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Reading List for Intellectual Killers

Elite_Bulge

Recently there was a thread on what books one should read to assist in the development of a successful career in finance. I strongly believe in balancing your library with pure "finance books", pleasure reads, and classics, with a strong bias towards the classics. You will learn about...

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Private Equity Resume Template - Official WSO CV Example

WallStreetOasis.com

<h4>Attached to the bottom of this post, you will find the Wall Street Oasis private equity resume template for experienced professionals, used by the WSO paid service and thousands of candidates to successfully land a job in private equity.</h4> For those of you with deal or...

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Developing the "It Factor" as You Progress in Career - What Puts High Performers on Another Level?

Pro Forma

Something I've been thinking a lot about recently is if I have (or if I can develop) the mental "it factor" that I see among so many of the top VPs, Principals, and Partners at my firm and others. I'm not talking about internal drive or ability to multiply three digit numbers...

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part-time intern at PE companies like KKR and Blackstone?

Scarlett0109

is that even possible? (for college student and international student in particular) Anyone had experience to share?...

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+2
PE Recruiting from a Regional Office

throwmeaway12345

I'm going to start my first year analyst soon at a top BB/EB at a non-NY office (LA/CHI/BOS/CHAR). Ultimately, I want to end up in NY preferably or SF for PE after my 2-year stint is over. What is recruiting for NY PE like from a regional IB office? Coming from a target or having good grades or GMA...

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LBO - Financing Fees and Calculating PF Goodwill

buymrk

Been working with a few practice models with a friend and have seen a coupe different ways of handling financing fees on the balance sheet. Looking for clarification on how to generally approach modeling these fees. Below is what we have seen: In one model, it is specified that 50% of total financi...

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What you wish you would have known getting into VC?

ISA2130953

What do you wish you knew getting into VC and why? Whether it's about quality of life, your firm, the workload, or your coworkers please share! Also, if you could explain how you got your first position that would be great!...

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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 ...

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Thoughts on General Atlantic

jo1421

I'm curious what people have heard about the growth equity Analyst program at GA regarding Hours, Comp, Culture. Also, possible comparison of their analyst program vs. that at a MF buyout shop, types of character that would go to each, and what a career path down either road might look like. Thank...

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Private Equity vs. Corporate Development

LaCroixAllDay

Ability to “Keep Doors Open”: Private Equity—have seen plenty of PE Corporate transfers, but am not aware of Corporate  PE transfers / Corporate Development—would imagine the role could transfer nicely to other high growth companies, but don’t see a path back into PE ...

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Centerbridge generalist?

TheFuzz

Curious to know how Centerbridge splits up its associate teams. Is there a “buyout segment”, a special sit segment, a credit segment etc. and you recruit for/are placed in one of them, or are you a generalist, staffed across verticals?...

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Is this associate compensation competitive?

dtowninv

A lower MM PE firm offered $160k cash comp, with a vague description of deal participation. This is for a pre-MBA associate in a state with no income tax and fund size ~$500m. Is this reasonably competitive? I like the firm but was kind of disappointed with the base / bonus Edit: Confirming that th...

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Associate comp at 1st fund

Greenassociate10

Interviewing in a few weeks at a PE fund and could use some help on what to expect in terms of comp. It is the firm's first fund so that adds some risk to the position. They are shooting for a few hundred million. Location is along the east coast in a major city, but not NYC. I do not have my ...

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LBO - how to ensure alignment with management?

chips_ahoy

Hi guys: I have a rookie question..in an LBO, how do you ensure alignment with management? Is it to give them stocks? How can one analyze what's the best way of doing so? Thanks!...

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Moving to Asia to do Mega Cap PE, good idea?

Billions_101

Hi All, I am a second year analyst at a bulge bracket bank in London and recently won an offer for a pre-mba associate at a mega fund (think KKR, Baring, Carlyle, Bain Cap) in Asia (Singapore/Hong Kong). I am a bit concerned about going for it, as I am afraid that going back to Asia ( I’m Asian)...

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Is credit ratings to private equity possible?

Bigdog22

I've come a solid ways career wise from attending a non-target > to first job was outside the industry > then to Ops at a BB > currently FIG analyst at a big 3 CRA and CFA level II candidate. Just thinking long-term - Is there any avenue to make the jump from big 3 CRA to PE ( ex. debt restructurin...

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Goldman Sachs GSAM PRE

Vito_Genovese

Burner account here. I have spoken to someone at GS regarding an open analyst position in the IMD, GSAM Private Real Estate Group essentially doing business development and investor relation duties. Job description didn't really show much analytical duties, it was a lot of creating marketing mater...

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What's your system for organizing emails?

dshipper_1

I feel like I get a thousand emails a day — internally from the deal team, from portfolio companies, from our resources group working on specific projects, and from deals in our pipeline. Anyone have a good system for organizing all of it so you can find it later? Outlook search sucks......

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2019 On-Cycle PE Recruiting: Headhunter Ranking

Theo_Epstein_2032

Recruited on-cycle in early December and signed with an upper MM buyout fund in NYC starting Summer 2019 (flagship fund size: $6-9 bn; AUM: $20-40 bn). Lazy Friday in the office and wanted to contribute here somehow - figured one helpful angle could be an update on the relevancy and efficacy of var...

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Associate Bonus Clawback

r9logic

So I just got hit with a new concept in my annual review. The firm I work at has had significant associate churn in the past year, and I guess they decided to implement bonus clawbacks. The rough mechanics are: When i signed my offer letter last year, they gave me a bonus range of $x to $y. Then in ...

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Interview experience for PE role with strong Ops Focus

Aschrack

I have an interview for a Associate role in the Distressed Investment Team of a Large Cap PE Fund in 2 weeks. According to the Headhunter they are looking for someone with a mix of operating restructuring and IB experience to support the investment process and management of portfolio companies. Th...

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I want to steal his CEO job NOW!

Kamoroun

Long story cut short...I am qualified Actuary with experience in Life Insurance, Consulting and Banking. I have recently been hired by the CEO of a company in distress. I am very excited since it is very very hard, for a life insurance company to be under distress. I have had a look and I see most o...

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An Ocean of Capital: Saturation in Private Equity

Draper Specter and Co.

I'd like to revive this discussion from 2012..... http://www.wallstreetoasis.com/blog/an-ocean-of-capital-saturation-in-private-equity It seems particularly pertinent given the PE recruiting cycle. I've attached some charts from a presentation given by the CIO at a firm in the 75th percentile of ...

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Crestview Partners 2020

throwaway7890

Did anyone else get the email from SG Partners regarding the 2020 Associate position? Looking for any insight on the firm and interviewing as there's not much on the site....

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IB vs. Start-Up For VC

NonTargetNetwork

Hi All, I currently have two offers: one from a large IB firm in a southern city, and one from an up and coming startup that is just beginning to generate revenues (should be around $250k+ this year). The role at the start-up would likely be very all encompassing (finance, corp strategy, business ...

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Data Driven VC

Brzig

Hello, I personally find the idea of data driven VC(think like Hone Capital) to be very interesting and would like to one day break into it. I am looking into getting a masters and am trying to decide between masters of data science or financial engineering. I would love to hear what y'all monkeys ...

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Industry Thesis Building

heavily_adjusted

My firm (MM PE Firm, $1B+ AUM) does not have a standard method of preserving notes and key insights on various industries and sectors we look at consistently. Curious to see if there are any PE / HF folks whose firms have a tight process for memorializing industry findings (notes, white papers, reso...

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LMM PE compensation, recruiting and port co. work

TouchedbyYou

What can one expect when transitioning to a LMM fund in terms of hands on port co work, hours, current valuation environment, comp and the recruiting length and process?...

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Going from PE Portfolio Company to PE

APLEE

So, I'm currently working at a PE portfolio company as a Sr. Finance Manager; hoping to exit in around 2-3 years. I'm coming from another Portfolio company (where I was a Corp Finance Mgr) that exited. I'm wondering if PE firms are looking to hire people with portfolio company/exit experience to wor...

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Help - PE Case Study Interview Resources

overandout

Hi all, I am in an interview process and have been told that I will be given a case study, and was hoping to corral some resources to prepare. I already have the WSO PE Prep Pack and generally have LBO model practices (not to mention that I am comfortable with my LBO modeling regardless). I am sp...

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Pantheon Ventures

chirmurri

Hi, Does anyone have any experience or insight into Pantheon + interviews with them? Can someone also explain why is FoF more attractive than directs/co-investment? Or even investing into a single fund for that matter. Is it just purely diversification? This is for a Infra/Real Assets Analyst pos...

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Oliver Wyman to Private Equity

JohnDoe101

Haven't seen this path covered in a while and would be curious to hear what insights people have. I'd be trying to go the route from consultant to PE (working on due dilligence M&A cases and trying to leverage that experience to get a position at an operations/performance improvement group in PE.) ...

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Partners Group case study?

chips_ahoy

Hi guys: Was wondering if anyone has experience interviewing with Partners Group for their rotational associate programs please? Heard that the case study will be a mix of modeling/business/IQ test....How does this work? Would love to learn a bit more about the format and what they are looking for....

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Industry Learnings in Private Equity

heavily_adjusted

I work at a generalist MM PE shop, and despite looking at a ton of different industries our team doesn't have an elegant / codified system for consolidating and tracking notes / resources / data on certain industries, which makes macro thesis-building a bit manual after coming back to a certain sect...

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Mid-Market private equity firms that focus on turnaround/special sits investing in North America

StreetofBulls

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Placement Agent vs Internal Fundraising at a top PE firm

yituraxi

Title says it all. I have interviews coming up at both a top placement agent and the internal fundraising team at a top 20 by AUM PE firm. Wanted to know if anyone had any insight in terms of compensation and potential exit opps. There have been a few threads on this, but nothing with specific detai...

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Moving from VC to PE/IB

The White Bull

I may have a chance of landing a job as a VC Associate/Analyst at a small seed stage VC firm based in the UK. Eventually, I would like to move into PE/IB Analyst positions in the UK. Is it really possible or I am just having a pipe dream?...

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Flexpoint Ford

the sun is cold

Anyone know anything about their culture / hours? Have heard they have excellent returns but curious about culture and lifestyle....

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Technology PE

33333

How would you compare firms like TPG, Advent and Apax for a tech growth/buyout investing role? Would like to learn about the culture and particular strengths (sector, etc.) of the mentioned firms, and also compare their tech capabilities to firms that are tech-specific like Insight, Thoma, etc....

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Risk Management/Quant Research Interview Questions

deliverables_and_friends

I have an interview at a PE firm (within the top 10 list of AUM) for Risk Management/Quant Research role internship and was wondering what types of questions to expect, both behavioral and techincal (whether financial or mathematical) and the best way to prepare. Thanks guys!...

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Follow up with 1st round interviewer or 2nd round interviewer?

ebitdapizza

Hey guys, So little issue here. I had 2 interviews for a boutique PE firm (2nd one was final round) and I'm not sure who to follow up with. I got plugged with the VP who was my first interviewer and they asked me to come again for a second round with a principal... Pretty sure the VP is higher up.....

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Brexit & Canada Example

jcmiraculis

Do you think Brexit will have the same impact on London that the several referendums in Montreal? ( most Financial Institutions went to Toronto and never came back)...

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Prepping for Bain Capital (PE) associate interview: Best resources?

Rslph

I have a Bain Capital case assignment interview coming up and would like to know if anyone has interviewed at Bain Capital for an associate position recently. Coming from non-traditional, scientific background with some industry experience, I have a lot of preparation to do in terms of financial mo...

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Apollo PE division (London office) - Interview Advice

Anonymous Monkey

Does anyone have experience with Apollo interview process in London - or any other city? What do the first round interviews look like? Also, where do I get prep material for the distressed investment part? I work at a BB, so have zero exposure to restructuring and wouldn't even know what to expect ...

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PE Investor Relations Case Study Interview

intermilanooxfordunited

Have an interview for an investor relations internship at a good-sized PE firm. I've done two rounds with them so far (both behavioral/fit type questions) and for the final round, I have been told that it will be a case study. I will have 2 hours to complete the case study before going over it with ...

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Transition from Capital Markets to Real Estate Private Equity

CirclingBack

Currently a capital markets analyst at a top 3 shop working with a high performing office & industrial team. Wondering if anyone had advice regarding timing, preparation, and networking to eventually work for a REPE group? The models my team works with are heavily catered towards a PE real estate mo...

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Typical Multiples in Growth Private Equity

Paul Rudd

Hi all, Long time luker, first time poster here. I am currently trying to value some established (not VC stage) but high growth companies using EV/Sales multiples. I have found a list of EV/Sales multiples for different industry sectors, but these multiples were computed using large publicly traded...

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Does start date matter for PE?

dat_boi_3069

Starting soon as an analyst at an MBB in NY. Quite certain I will recruit for PE this fall when on-cycle recruiting happens, but since recruiting happens so early these days (last time was October) I feel pressured to pick an earlier start date than I would otherwise like. Does anyone who's recruite...

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How to walk through a past deal during an interview

PJ101

Hello everyone. I'm wondering if there are any tips on this question. If due to confidentiality, you can't name the deal and can't cite the numbers, what would you do? What is a good structure to answer this question? Start with the deal itself or start with what my responsibilities were? Thank you....

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Is the $299 WSO PE guide worth it?

random241804

Hi, i’m a current IBD analyst, my exposure to modelling hasn’t been great (still yet to touch an LBO or even go above a simple DCF) I work in TMT so we mainly just do trading/transaction comps. I am looking to recruit for next years PE cycle and want to find out the best courses or ways to lear...

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Transitioning Culture: Distressed Deal

m_1

Anyone have a good learning resource on transition culture at a distressed company post-acquisition? Feeling pretty good about a distressed co. we just picked up but the culture is seriously fucked because the last owner was not running off a real management structure....

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Reducing Hourly Flex Due to Deals?

m_1

Obviously since PE/VC is a deal based business hours flex pretty hard/fast. Are there any specific strategies you guys have seen used before to reduce this somewhat? Trying to minimize the whole 60 hours a week until a deal is suddenly on and getting smashed with 100+ hour weeks. This is problematic...

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Books relevant for PE/VC Professionals

The White Bull

Can you guys write what books should one read if he/she wishes to get into VC/PE which requires you to have a thorough knowledge of what works and what does not? Since you would be looking forward to investing in companies which are still new and you don't know how to sort them out, so what knowledg...

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Why I Left PE & Switched to the Public Markets

johndoe89

I compiled this post because I've received several questions aroud this topic in private messages and I thought it may be helpful to discuss my experience with a wider audience. I would like to caveat all of the information in this really long post below by saying that these are all broad generaliza...

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Sam Zell's fund EGI

Little Sheep

Anyone come across this fund in a process or know what it's like to work there? EGI is the name of the fund....

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PE - Finance (accounting) analyst to investment role

Lois-WU CFA Level III Passed ACCA Affiliate FRM

Hi guys, I have recently got a second interview for a finance/accounting role in a top real estate PE (1 year contract). I have passed CFA and CPA, and also gain around 2 years experience in ibd/corp fin. Do you think i should take this chance if my goal is to transfer to investment role in the same...

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2 year PE MF program with MBA requirement - potential exits?

Tobuysideornot

Fellow monkeys, Just accepted an offer to join a PE MF in ~2 months time. Given that this is a 2 year program (with an MBA requirement to progress to a VP-equivalent role), would want some insight on exit opps from people who've been on the same path. Some background: HYPSW undergrad, and 1st year...

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Expected Analyst Comp at a Fundless Sponsor

twolves14

Hey all, just a quick compensation question for you. I have been interning at a small fundless sponsor with 2 employees, both partners, and expect to receive a full-time offer within the next month. Honestly, I have no idea what pay/structure to expect and don't want to go into the conversation blin...

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Landmark Partners - PE Secondaries- Opinions?

creditrevolver

Hello WSOers, Saw some older info on Landmark Partners and wanted to see if anyone had any new insights. Prestige in the secondaries space? They looked like one of the bigger PE Secondaries players out there. Thanks for any insights....

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Ghost stories from the BO

Orangutndm

TLDR The graveyard is a better place for careers than the BO. This post was originally a tantalizing parable about the daily experiences of a back-office drone. Seems it was way too fucking long so it is being revised Short story coming soon. I spent several weeks working the BO and for those who ...

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Urgent Care Startup Funding

swilliams

Hello Everyone, I apologize for any missteps in terms of foru/posting or community ethics - or if I'm even in the right place to be asking this question, for that matter. I'm currently starting an urgent care center with one physician partner at the moment and in need of additional capital. We woul...

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Free resume review

Private what...

Despite being across the ocean (Europe - not UK), but working for a MM PE fund I would like to voluntarily review resumes. I have been in the industry for some time and have gathered some experience in helping others to land a PE / IB job....

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LEK to PE, timing

LifeSciConsultant

Hi WSO, I am a year 1 at LEK, looking to transition over to PE in the next year or two. I was wondering if anyone could speak to the timing of when to begin reaching out to headhunters and applying. I have not had a lot of experience yet with modeling and I am wondering if I need to wait until I ha...

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Recruiting for Top Infra Funds (MIRA, GIP, BIP, etc.)

Buyside_Blues

Hi everyone, After spending some time going over threads about Infra PE on WSO, I realized there's very limited info on the recruiting aspect for top infra funds. Can someone who has gone through the recruiting process for any of these funds shed some light on them? Some insight regarding prefer...

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Do PE IR guys get paid on par with Investment team?

firstclassflyer

Curious if anyone has any visibility on compensation as you approach the upper levels of IR/Marketing/BizDev roles at large funds? It appears that compensation becomes very close to that of the investment professionals, particularly as you get to the upper levels where equity stake gets invovled. ...

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