Silver BananaTopicReplies
+4
Lack of Modeling

wso5305

Secured a FT offer in a group that is known as the top group in the bank. Strongest deal flow and hardest group to break into. Only issue is that they don't model. Goal is MM PE. Do I need to look at lateraling to another group based entirely on the fact that my group doesn't traditionally run with ...

8
+20 7
+1
U.S., Europe, and Asian multiples for tech startups

zennan

Hello everyone, I am working on some project and was wondering if you guys know what the general multiples for AI or tech startups is currently at for the startup industry? I would love it if anyone knows segmented by geography (e.g. Americas/U.S., Europe, Asia...) Thanks monkeys!...

1
+17
Why don't more women go into PE?

PE123456

Team pages have like 2-3 women max. Are the women in analysts programs just not pursuing PE and opting for Corporate roles instead ? Can anyone share their experience or those of your female friends and the paths they take after their IB stints ?...

36
+3
Credit to PE

bubbaliciois

I'm an undergrad who will intern at a credit fund at a larger PE firm like Apollo/Ares/TPG/BX/Bain/KKR. I'm not sure if credit is what I want to pursue long term, and don't know about placement yet -- I could end up doing anything from distressed to CLO to direct private credit investing. If I want ...

7
+3
Top Candidate Preference

PS21

Hi all, Curious about what the general top candidates’ preferences are in private equity (from IB). How have you seen your peers decide where they want to target. My impression is that it’s a combination of fund size, fund performance, prestige, office location, and the associate program. Def...

14
0
Thoughts on BC Partners / Apax

ilovemoney

Thoughts on these two firms? Was deep in the process with both over the last 2 days and have final rounds coming up. Comp, hours, and career progression? NY office. Please help. I need to know asap....

4
+2
Bored of PE, what next?

peburner2018

Hi all, Posting under a burner account. Basically have been working in PE for the past 3 years or so, started at a small fund which has grown decently over the past few years. We're still small, ~$500AUM, but good performance from early funds, good LPs, and line of sight to at least a few more fund...

4
+1
Why does PE require an MBA? Wouldn’t it require you to halt your life if you started working then left for 2 years to get MBA?

bugssi

In banking you can be promoted to an analyst from within and an MBA is no longer necessary. However, in PE you need an MBA it seems no matter the experience. Why is this the case? You’d have minimal income for 2 years while you pursue an MBA, am I wrong? Please enlighten me as I am not super know...

3
+4
Venture Debt/Lending Industry and Career Opportunities

gostate11

I could not find much information on this site regarding lifestyle/career progression/compensation of folks working in the venture debt space. However, my concern is that venture debt funds are essentially no different than other tech lenders such as SVB/Square One. Looking at lending opportunities ...

6
+2
Owl Rock Capital?

Buyside Monkey34

Does anyone have any insight into Owl Rock Capital? I know it’s a private credit shop founded by former GSO Capital, KKR, and Goldman Sachs partners, but if anyone could shed some light on reputation/comp/hours/culture, would be very much appreciated. Thanks!...

2
+1
option to purchase

choubix

Hi guys, We are looking at making an investment in a promising company which could become quite strategic for us in the future. At the moment we are looking at making an equity investment and we could consider an option to purchase. Where could I get some information on how to price & structure th...

3
+1
What sort of Case Study to expect from MM/LMM FO focusing on Growth Equity & Debt Capital?

moneytrail

As title suggests - in interview process with a (L)MM FO focusing on Growth Equity & Debt Capital. Was wondering what sort of case study to potentially expect? Since i dont expect them to be doing leveraged buy outs presumably LBO will be out of question unless its a Paper LBO type all equity transa...

1
+1
Main Post Partners

Broseidon1

How is the reputation of Main Post Partners ? Senior guys look like they have a strong background. Curious how the MBA placement will be....

1
+1
LMM Growth Equity Preparation

wso5305

Recently accepted a spring internship at a small growth equity shop, I'm really excited about the opportunity and I was wondering if anyone has recommendations for reading material ahead of my start date. Books, news sources, etc. ...

1
+3
Independent Sponsor advice

SmileChimp

I want to become an independent/fundless sponsor for a dental rollup. I'm currently on the sell side as a dental business broker, and I've been a dental operator in the past. I'm thinking my experience is lacking to raise a fund; however, I want to take down 5-20MM in EBITDA through a collection o...

10
+2
Legals in PE

GoodwillHunt1ng

Long-time reader, first time poster. I'm an analyst at an MM PE shop in London, current fund c£500m. Enjoying the job and all going well but have noticed that a particular weaknesses is my knowlegde of the relevant legals around transactions. This is tough to learn on the job as the only exposure ...

3
+3
Questions to ask during interview for new fund

slothsloth

Hey everyone, so I am currently interviewing at a newly formed fund. Made it past HR and case study round and am now going to meet the VP of the team. What questions should I ask this person to make sure the fund is legit? Some that I have thought of: - Who are your institutional backers? - What is...

6
+1
Master Thesis - Reasearch

Rorshak21

Hi everyone! I am turning to you guys today because as a last year student in a target business school in France, I have to redact a thesis to finish my Master. I have been interning for more than a year in finance (French system of gap year) doing M&A in France, PE in London and finally M&A as a ...

1
+8
Family Offices List

MBA_DC_kid

Does anyone have access to or know how I can obtain a list of Family Offices in the US?...

70
+22
Special Sits PE Case Study Example

Matrick

The webinar for this case is TODAY, July 6th, at 5:00pm EDT. If you miss it, it will be replayed for free on the homepage on August 6th Even though recruiting season is not necessarily around the corner, I thought I'd share the below with the community. If anyone has a case study/modelling test com...

61
+1
Private Equity LP marketing list for sale

pantera1978

PE placement agent looking to assist others in raising capital. Looking to sell my global LP list. Investors include 4,000 endowments, foundations, pensions, insurance, family offices, multifamily offices, sovereign wealth, RIA's and HNWs. These LPs have invested in VC, Growth, Debt, and Buyout....

1
+18
AMA: 2nd year BA/A/AC at MBB going to UMM/MF in 2020

embeebee

Graduated from a non-target university and joined MBB at a mid-size office. Just signed a UMM/MF PE offer during 2020 on cycle. Feel free to ask me anything related to experience at MBB, PE recruitment, etc. ...

48
+12
Two-Year Sabbatical/Break from PE

spinyourwheels

I’m a Senior Associate at a MM PE fund in my mid-20s. I enjoy what I do, but want to try something different. I’ve had an entrepreneurship bug as far back as I can remember, so this would be the most logical place to jump, for me. Chances are I’ll fail. I’m quite realistic about the probab...

20
+1
Working for a Job Title

ThatOtherGuy

Would like to get people's thoughts on this. My work allows me to work closely with a number of our portfolio companies and for those that don't have dedicated finance functions, I can see myself working up to CFO-level responsibilities or at very least to a strategic finance capacity. If I were to ...

1
+1
Israeli Growth Equity intern vs. U.S. Venture Capital intern??

Zen.Monkeys

Hello everyone, I recently received offers for a summer internship from an Israeli Growth Equity firm ($1bln - $4bln AUM) and a small venture capital firm in my local city in the U.S. ($400mil - $600mil AUM). Not quite sure which one to take or will provide me a better opportunity in the future? ...

1
+1
....please delete.....

iamaninnovator9353421

The quick brown fox jumps over the lazy dog. The quick brown fox jumps over the lazy dog. The quick brown fox jumps over the lazy dog. The quick brown fox jumps over the lazy dog. The quick brown fox jumps over the lazy dog....

1
+3
Roark Comp?

high hopes

Anybody have ballparks or numbers for Roark in ATL for associates, senior associate and VP level? There seems to be minimal comp info on WSO here, mostly at the analyst level. ...

10
+14
Moelis NY placements for this cycle (HF and PE)?

ProspectiveMonkey12345678

Hello everyone! I will be interning at Moelis NY in Summer 2019 and was just curious how well Moelis analysts placed this cycle. Appreciate any information regarding this!...

44
+1
Estimating working capital for a company on cash basis accounting

BEEFSECTIONAL

I just started a role in corp dev for a firm that owns/operates medical practices. Almost all of the targets we look at are on cash basis accounting so we have to estimate seller working capital. Since there is no AR/AP on cash basis balance sheets, we typically estimate AR by asking the seller how ...

2
+1
Baring Private Equity Asia - Reputation?

BankingXYZ

Hear that they recently had a $4.5 billion first close. Anyone aware of their reputation in the Asian PE landscape? Certainly can't be too bad with a first close like that, but how would they compare to American / European megafunds in the region? Thanks in advance all!...

4
0
PE salary straight from undergrad

bleudevils

Since it is rare to land a PE gig straight out of undergrad, I've had a bit of difficulty finding numbers on this. How much would a recent grad make at 1. a middle market PE firm in a city like Atlanta / 2. a top firm (Silver Lake/Blackstone)? Is it basically impossible to break into a top PE fi...

14
+3
Bregal Partners Full-time Analyst

Adams-Smith46

Anyone knows what's going on with Bregal's full-time recruiting process? Had a first round with them but haven't heard back yet...

14
+3
I have a SA phone interview with a PE firm (BX/KKR/Apollo) for Real Estate

goldsjp

I have a phone interview for a summer analyst position with a PE firm (think of BX/KKR/Apollo) for Real Estate, does anyone have any tips on how to prepare for the interview? I'm a sophomore from a non-target. ...

6
+3
Main Post Partners Job Posting

hdittman

Main Post Partners, a consumer-focused growth equity firm, is seeking an Analyst to join its investment team in early 2019. Firm Overview Main Post Partners is a San Francisco-based private equity firm with deep experience investing in growth companies across the consumer value chain. In November ...

1
+1
P and C Insurance / Transformational Chief Informaition Officer

Stitmoc

Are there private equity firms, focused on insurance, who need deep Transformatioal technology leadership to support their work and portfolios?...

1
+8
Funniest EBITDA adjustment... Go

dino3253

Pro-forma run-rate bank NTM EBITDA - included a ramping unit adjustment and weather adjustment Any others?...

20
+1
PE Analyst Secondaries -> Direct Investing PE Associate

Chicago60007

Hey everyone, Wanted to get opinions on moving from PE secondaries to direct investing. I am interviewing for a 2 year role for a PE analyst for MM secondaries market at a well-known brand. I was wondering coming out of this, will I be able to recruit for direct investing PE associate roles with ad...

5
+3
Anyone heard of XIO Group?

TheOceanizer

Would really appreciate some intel on XIO Group. They seem sizeable (some sources say $5bn AUM), and recently beat out Advent for a $1.1bn buyout bid. Apart from that, there is an astonishing lack of info for a fund of this scale... Does anyone know anything and can share? Most interested in their ...

31
+1
IPO vs M&A in a Private Equity Exit

turkishbanker

Hello everyone, I have read that an IPO exit usually yields higher returns compared to an M&A exit for a private equity firm. Does anyone know the reasoning behind this? Thanks!...

2
+1
Alternative Data in Private Equity

canada_money

I am curious to hear to what extent PE funds are making use of alternative data, or how firms are using analytics in their due diligence process? Given the role that increased data, analytics, etc. is playing in the rest of the finance industry, has this trickled into PE as well?...

1
+1
VC commitment to the fund

Diana-Vivaldi

I am a senior employee at a VC firm, but not a GP, and I am being asked to contribute to the GP commitment into the new fund. I get ~2% of the carry in the new fund, and I am asked to contribute ~1% of the GP commitment "to create alignment". I believe in the firm, but I’d rather not have my res...

3
+2
Small-Cap PE Analyst vs MM IB

MoneyMakerIB97

Hi, what do you guys think about an analyst position at a smallcap PE firm (...

2
+1
Capital One or small PE

juliehe1

Hi, son is a junior. He has two intern options right now. Capital one corporate finance and a PE startup with 15 people. Can any one tell me which one will have bigger earning potential down the road? Right now the starting is 85k~ vs 50k+25k bonus. Honestly son is not the type that can climb the...

3
+1
Growth equity straight out of undergrad vs BB TMT

Keepingitreal

What are your thoughts on joining a top Growth equity shop out of undergrad (20B+) AUM vs joining a top group for TMT banking, straight form undergrad top target? Thanks...

2
+23
AMA: I’ve held Pre-MBA MM LBO, Growth Equity and Venture Capital investment roles for funds with $500M+ AUM to $5B+ AUM

TheBigBambino

Hi All - I'm ~5 or so years out of college. I did not do a formal 2 years of investment banking and was instead hired out of undergrad as an analyst at a fund. I've worked at several firms in several major US cities. I've worked at one smaller regional firm with $500M - $1B AUM and have since worke...

57
+1
Help a High schooler out Please

SaraTCM

I'm a hs junior who was recently told by a school career test I'm a good match for a career in IB or PE. I know next to nothing about it, but the job descriptions sound really interesting (and so does the salary). I'm planning on going to USC for business anyway and I would really like to explore th...

1
+2
Really?? Carried Interest Offer in Top-Heavy $30m VC Fund

jwwilson11

Just got an offer to join a $30m venture fund as a VP with 1% carry. The problem: GP carry allocations are distributed among to the two "founders" of the fund, which are only involved lightly-- no day to day sourcing or evaluation-- mostly just a voice in the investment committee. The main GP ...

4
+2
Credit PE vs. traditional PE

VMC16

I'm currently working at a traditional PE firm, and was reached out by headhunters on a few opportunities regarding the private investing arm of credit/special situations firm focused on distressed long-only PE and special situations lending. I didn't find much information on credit PE funds, so w...

2
+1
What should be my job strategy here?

Binary_Noise

I'm a Senior at a moderately large but highly ranked state school (still a non-target I think). In the long term I would like to work within PE or at a Hedge Fund. I just received an offer from a very small (...

2
+1
Strategic Advisors on Deals

thibautl

Hi all, I was wondering as a junior pe analyst, how do you generally go about searching for relevant strategic advisors for a given industry? Other than searching for advisors on precedent transactions on MergerMarket and CapitalIQ, are there any more reliable sources out there which are more cons...

2
+1
Maximum exposure/ overcommitment

namo9922gmail.com

Hello everybody, just a short question: Why is the maximum exposure of most private equity funds only around 60-90%? I can see the use of overcommitment in order to maximise the exposed capital, but besides some "security" aspects these low rates of maximum exposure don´t make sense to me. I know ...

1
+3
Small PE FoF / Co-Invest vs. Large PE FoF

chezparadise

Hi all, Would appreciate people’s thoughts on these two great opportunities that have offered me positions as Analyst / Sr Analyst 1) ~5Bn AUM PE FoF strategy, with 40-50% co-investments, with primarily FO and sovereign capital. Great small team of talented individuals (ivy undergrad and/or HBS)...

5
+16
Are we in a new Family Office bubble?

Bullet-Tooth Tony

Maybe I'm just cynical, but at my MM, we have rarely seen family offices compete for deals in auctions and it seems there are more and more being formed weekly, if not daily. I'm astounded at how much capital is now going into the market to try and compete with traditional PE and strategics, particu...

26
+1
Got promotion to Senior Associate at a growth equity firm - should I stay or leave?

SushiShop

Recently got the promotion to Sr. Associate (at my 2-year mark) at tech-focused growth equity shop with less than 5 investment team members, and we are about to start raising a new ~$125mm fund (meaningfully larger than our first fund). The raise they gave me was only modest as we are capital const...

1
+1
Fengate (real asset PE)

CU04

Hi guys: Has anyone crossed path /know anything about Fengate (real asset PE shop based in Canada) please? I've read their website but curious on any inputs on culture, how it's like to work there, etc. Thank you...

1
+1
Thoughts on PE Analyst -> PE Associate Track?

sffinance321

I'm currently a second year analyst and an opportunity for a PE shop has come up where I could potentially join as an analyst. I would be giving up my bonus but this will let me explore something completely different and a lot more interesting on the buy-side. One caveat is that this position is hea...

3
+4
Do private equity firms hire undergrads?

artmonkey

Is it true that famous private equity firms like KKR, Black Stone, Apollo, and others recruits at undergrad level? If so then what kind of College do they recruit?...

201
+1
Is Search Fund Experience Valuable?

Kino Collected

How is Search Fund internship experience looked by Investment banks and Private equity firms? I have work on a few lbo models, build three statement models, work with brokers for finding deals and evaluating CIMs....

14
+3
How long did it take you to land your offer?

sffinance321

I have gone through a handful of rounds for private equity ranging from 1st round to final rounds and have come short every time. This has become a frustrating time for me and it is only making me lose track of the end goal as the entire recruiting process is wearing me down. I am a second year at ...

7
+2
Favorite Distressed LMM Plays

m_1

Can I get some case studies/examples of everyone's favorite distressed lower middle market plays? Bonus points for anything in consumer. ...

1
+1
Recruiting for Private Credit vs Private Equity?

Monkey_Chimp23

For those of you who have had to make the decision to recruit for either private equity or private debt, what made you choose your decision, did you do both, one or the other? Ex. Would you rather do Ares Direct Lending or Ares PE...

3
+1
Sovereign Fund Returns - Hypothetical

InquisitiveGuy622

Hypothetically, if I were looking to raise and receive $1 billion+ of money from a sovereign fund for a 5-year or 10-year duration for a portfolio of loans backed by double AA rated companies with 100+ years of creditworthiness, where I created a platform to lend out money and collect interest in ad...

1
+1
What materials did you use for PE recruiting?

sj592

What materials do most analysts on the street use? Should I buy the WSO course or are there any others out there?...

1
+1
PE compensation

Nxjdjd

Anyone know what the going rate for associates at private equity firms are recently? Did any raise compensation to stay competitive with banking? Heard some folks getting told $300k+ all in for recently recruited positions starting in 2020. Mainly looking for data points with the mgea funds (Apollo...

3
0
Variner?

justphresh

Hi All, I just got another recruiting email for PE from a "boutique" by the name of "Variner." Has anyone heard of them and what are your experiences? Also, is it even worth speaking with any of these recruiters unless they're one of the verifiably good ones that people know about? Thanks!...

0
+1
What does IVP mean on this forum?

dontbugme

It appears IVP has been tossed around to define either Institutional Venture Partners or Insight Venture Partners with the former being venture and the latter have a combination of venture, growth and equity. Is only one of them "IVP" and what are folks' thoughts on the two? I would be interested ...

4

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