Silver BananaTopic
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How much does transcript matter?Hello I'm looking to recruit for PE after doing the summer at investment banking. Right now I have the choice to take really easy courses, 3 classes per semester, take some pass-fail and still graduate with honors if I just write a thesis. I'm an econ major, and I don't even have to take more econ...
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REPE in LondonWhat are the best/most prestigious REPE funds in London? I have the impression its Blackstone/TPG... What are the best Real Estate Banking groups to break into those funds? How is pay? How are hours? Is it true that hours are slightly better than Corporate PE/"normal" IB?...
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BDC Price/NAV QuestionI've recently been researching BDCs and other direct lending funds, and something keeps vexing me. What I know about BDCs: closed-end funds that trade publicly. They're given certain tax advantages by following specific regulations, most importantly they need to pay out investment gains to investor...
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Company Review: The Riverside Company - Overall great place to work in PEGood people, good amount of capital with lots of opportunity to advance. Overall strong culture and good place to work for long term.. Quite political, some unimpressive people around. Lots of deal activity which is great to learn in but need to focus more to scale....
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Consulting-like cases PE interviewsHi guys trying to prepare for an interview for a megafund next week and was told that I will have consulting-like investment case studies. So it will be both qualitative and quantitative. I have in mind criteria for the commercial side but cannot find case studies online. I am not after paper LBOs ...
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John Laing infrastructure investments Hi, I was wondering if anyone here knows sth about John Laing (primary and secondary infrastructure investor and asset manager). Would an internship with them be a good way to break into PE (no ft possible)? I may have a chance to intern with them but as a graduate with 2 internships (in unr...
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Company Interview: Warburg Pincus - AssociateNothing was out of the ordinary. The first two 30 minute interviews were straightforward. I was asked standard PE questions that you can find from any guide. Some tougher questions were about specific businesses that the interviewer pulled out of the blue (how do you view this business, etc.). Some ...
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MBB Operations Consulting to Private Equity Operations/Value CreationCurrently working at MBB in operations/strategy consulting and want to have a long term goal of moving to PE operations/value creation. I am a CPA by training and made the jump to MBB to get the name on my resume and hopefully open more doors. I have done a lot of restructuring and turnaround work b...
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TMT questionCan anybody provide color as to what specializing in TMT would really entail? Technology, Media and Telecommunication seems to span...so much. Anybody care to give a summary? It sounds like you're looking less at pure technology companies or pure media companies. ...
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LBO-Modeling Case Interview - Completed Model but Fucked Up with Iterations?Hi, I recently had an LBO modeling test at the offices of a fund. The test was 2 hours long, requiring me to project the 3 statements etc. I did Ok and managed to finish the model on time, but when it was time to check that BS figures, change in cash, etc match, it all went to hell. Same with the...
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Overview of Infrastructure Private EquityHello WSO, I have been a long time lurker, and this is my first post (or maybe I am one of the top rated authors who decided to make a post anonymously). I have noticed a certain lack of information about infrastructure investing on WSO, and those threads that are created from time to time, are long...
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Private Equity (Real Estate) Analyst to Associate Compensation ExpectationsAny thought on this is much appreciated! I'm currently an analyst at a real estate private equity fund between (500M and 1B AUM). I know/have seen compensation reports for regular PE, but these surveys are only reflective of the mega funds and do not break it down by sector (at least I believe). Wha...
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Undergrad Summer Internship : CPPIB vs BB OfferHi All, I am currently torn between two Summer Internships offers : one from a BB bank, the other one in Private Investments (kind of Private Equity) at Canada Pension Plan Investment Board. Both offers are in London. From what I've gathered during the interviews and through my own research, the wo...
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Experiencing Berlin startup friendly environmentHello everyone, I've just graduated in business administration from a swiss university and I'm currently spending my gap year in Berlin (Germany) to learn the language since in September I'm moving to St. Gallen to pursue my further studies. I would love to experience Berlin's startup friendly envi...
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Company Interview: Alinda Capital Partners - Associate"How do you value a parking garage?" The question was set up to gear how I thought through valuing an asset I was unfamiliar with. I don't think the question was that difficult, but it was very unexpected. I thought that I answered it well through a logical approach - talking about the revenue model...
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IB SA to Full-Time PE? HelpHas anyone been able to do this successfully? I will be at a top BB next summer and am very passionate about investing. I would like to skip the 2-year IB stint and go straight to buy-side, preferably an upper-MM PE or MF PE. I go to a non-target on the east coast and have great internship experienc...
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Building A Startup From Day 1 - The Documentary So I haven't been as active on these forums lately as I would like to be. I was first brought in for the finance and investment banking side, but stayed for the great acceptance for venture capital, sales and startups. I've worked for some top startup (largest funding round, company funded by the ...
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Post-Money Stake vs. Pre-Money StakeHi, If a firm has a pre-money valution of USD 100m and It accepts an offer from another investor for USD 60m, that would implicate a pre-money stake of 60% for the new investor. Assuming all the cash is injected into the company, this would translate into a post-money stake of 37,5%. If this is pai...
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Thoughts on SPAC's? (Special-purpose acquisition company)Thoughts on SPAC's? (Special-purpose acquisition company) Noticed a ton of SPACS have tanked 80%+ within the past years and i'm wondering if this is just a shady ploy for a quick buck. Anyone with knowledge can speak on this?...
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Company Interview: TJP Advisory & Management Services GmbH - private equity internhonestly none of the questions were super hard. legit. they were all regular, run - of - the - mill interview questions. I had no business background so they were all behavioral. ...
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How to initiate M&A activity as a VC partnerHow would this work? If you are a private equity firm and you want one of your portcos to purchase another company, you give the money and tell them to do it (or do it yourself, rather). Say you are a VC and you, as well as other VCs, are invested in the same company. Let's say for ease of example ...
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LLR Partners - Any Insight?Hi, I'm looking for insight into this firm, including specifics on firm performance, experience as a junior, outlook, culture, pay, etc. Any thoughts are appreciated. from those who have worked at / with LLR or have heard things through the grapevine. Thanks....
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How to Amortize A Balloon Loan?Say you take out a 5-year loan of $100,000 amortized at 10 years but with a 35% balloon payment ($35,000) required at the end of the term. Do you calculate amortization payment (excel: PMT) excluding the balloon amount then plug in the balloon amount at the end of the period in the amortization ta...
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Company Interview: FORM Holdings - FORM Holdings One question i was asked was my proficiency in excel. Be sure to understand basic excel concepts and be prepared to answer advances excel concepts as well. Other than that, it was very basic-walk me through your resume, what do you want to gain from this internship, why should we hire you, what inte...
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Offer from REPE Fund: Need AdviceHi all, Senior from target school who received a PE analyst offer from Realterm. REPE fund investing heavily in warehouses, logistics and airport real estate. Does anybody know about this firm/how good of an offer this is? Did a quick search on WSO for both Realterm and Aeroterm which didn't yield...
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How competitive is Private Equity in Canada?I've done some basic research and it's clear that there doesn't seem to exist the same type of pipeline you see in the US (target->BB->PE->HBS->PE). Although hiring out of IB after 2 years is still the most common, they seem much more open to hiring at all levels, including post MBA out of IB, consu...
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Private Equity in ChinaHi all, I'm curious if anyone here knows what are some top PE firms in China and how the recruiting processes are for those firms. I'm a Chinese native having lived most of my life in North America, but is currently interested in potentially pursuing a career back home. Feel free to PM me if anythin...
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Company Interview: Norwest Equity Partners - Norwest Equity Partners- Market sizing question - light bulbs in Australia. - Case study on an industrial company - SWOT analysis and model - Paper LBO - it was fairly easy as they walked you through it, just make sure you don't make any mental math errors as that ends up being the biggest challenge. They also asked a fe...
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Company Interview: AUA Private Equity Partners, LLC - InternWalking through a DCF / thinking about valuing different types of companies - for me this was hard because I didn't come from a finance background, but even though I did not get the DCF question right, and needed some help with valuation they still gave me an offer - I suspect because I did well on ...
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Question - LBO Case Study? Will likely be writing an LBO case study in the coming months. Was curious, is it an expectation to develop the template from scratch during one of these cases? Or is it reasonable to come in with a template that allows you to plug and play for the most part? You would have to know the model concept...
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Company Review: Partners Group - Partners Group AnalystYoung office, relaxed dress code (jackets and ties typically not needed), city has low cost of living, rotational program allows you to experience different investment teams. Salary and bonus (signing and annual) is lower than expected but was told that it ramps up as you stay longer with the firm. ...
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How to find PE/VC jobs in non-target city?deleted ..............................................................................................................
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UVA McIntire - Not Great for BuysideInterested in attending UVA next year, and I plan on pursuing some sort of job in finance following graduation. Like many others, though, working 80+ hour weeks has somehow lost its allure for me.. With that in mind, how is UVA's recruitment for buy side PE firms (and hedge funds)? So far, I've been...
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Internship at Abraaj Group in DubaiI've seen a few posts on PE in the middle east and Abraaj in particular. I secured an internship at the Abraaj Group for this summer in Dubai so I created this forum to help put some things in perspective. I'm currently a junior studying in the US. Ask me anything!...
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Just landed a PE internship after being fired from a consulting firm for underperformance. How can I do well this time?Hey monkeys, Hope this post finds you well. I entered a mid-tier consulting firm out of undergrad where I did just about "ok", then jumped to a small strategy shop where I was let go after a year (give or take a few months) due to underperformance. I just landed a 4-6 week stint at a small PE sho...
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IFC - Investment Analyst in PE team - can someone shed some light please? I'm currently in the middle of giving interviews for consulting firms, and my long term goal is to end up on the buy side eventually. I got to know about an opening at IFC for an entry level investment analyst role in its PE team. The Job description says that the work chiefly involves helping inve...
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Operating Partner interviewDo some of you have experience in Operating Partner interviews - either as a recruiter or as a recruited partner? Process, type of questions, and likely test during the discussion.. Great thanks!...
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Performance ranking These days all recruiters have been asking about recent performance rankings. I am not sure how that benefits anyone as the average analysts can just mis-represent their placement. Is there a way for recruiters to check? ...
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Interview with a PE firm tomorrow I have an interview/meeting with two guys from principal and the founder of a LMM PE firm tomorrow afternoon. It is one of the top producing firms in the state I am from. I got the interview through a personal connection and have known 3-4 people who have gone through as interns. **Any advice on p...
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PE vs. IB out of collegeHi all, I'm currently an undergrad early in the whole career process, but pretty set on finance in one way or another right now. Though my knowledge and understanding is pretty limited, I like the idea of working in PE, as I have experience moving up the ranks of a business and constantly gaining d...
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London IBD vs Continental Europe MM PEHi all, So I have the option to start at at Tier 2 BB (BARC/CS/Citi) in London. But I also have an offer to start at two PE funds in continental Europe (West/North-Europe). The first one has an AUM of around €800m, is situated in a nice city and is a traditional PE fund. The second one has an AUM...
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Private Equity Recruiting Kicked Off?Heard this per head hunters / friends at various banks. Curious to hear what others have been hearing. Thanks...
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ECI Partners London – good exit prospects? Pay? Coming out of Cambridge, I have been debating whether to go to T Rowe Price for internship or ECI? I know that not many Private Equity houses will hire undergrads, so I thought ECI might be an interesting place to work. Are their exit prospects strong? What is their compensation structure like? Than...
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Valuation Services to Private EquityDoes anyone have any perspective on whether moving from Valuation Services to Private Equity is a doable move? I am interested to hear general perspectives but also specifically relating to the UK if possible, I know US/ Europe can sometimes work a little differently. How transferable are Valuation...
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Private Nonbank Lender ValuationHappy New Year! (1) I have an PE interview coming up where I have been asked to consider investing in a fintech private nonbank lender (think prosper, commonbond, etc.). Any ideas which valuation methods would work best for these guys? What multiples would you use? (2) Judging from their public pe...
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Company Review: CIM Group - OK- Good hours - Good exposure/diversity of funds - Good AUM - Good prime location - People with good background. - Investments/development team are taken care of very well, but other teams not so much - Unsure if personal growth is supported...
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Company Interview: Morgan Stanley - Morgan Stanley1. How do you calculate the equity yield for a real estate property? 2. For a triple net (NNN) lease for an industrial property, if the property manager increase the management fee how does that affect your net operating income of the property 3. Why is current yield lower than market yield? Why is ...
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Company Interview: Auda International - Private Equity AnalystThere were unexpected questions about my personal background, motivations for entering this field/working at this firm, etc that were beyond the typical "why do you want to work here" type questions. I was given a case study (lbo model) and asked about macroeconomic events that affected my valuation...
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Interview Question - BuysideWhat is "Cash Generation"? Is that FCF? Question for context: "Equity Purchase price of company is estimated at US$30 million, of which US$10 million is to be funded with cash generation and the balance with debt. Assume last year the company had $50M in Assets, $40M in Liabilities and $3M in c...
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Goldman Sachs' Private Capital team (ESSG)Hey monkeys, What can you tell me about Goldman Sachs' Private Capital team, which sits within the European Special Situations Group? The analyst role/job type/culture/ anything really... it's quite tough to find tangible information on this team Have face-to-face interviews coming up, no modelli...
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Company Interview: Apollo Global Management - Structured FinanceWhat does derivative mean? Give me an example. What did you learn in your previous internship? What do you know about this company? Why do you want this position? What excited you most in the previous internship? How would you tell a computer if its concave up or down? I also find it hard to keep up...
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BMW i Ventures - Reputation, Comp? Is anyone familiar with BMW i Ventures beyond the information available on the site / the couple of articles that have been published over the last 2 years?...
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Credit Fund to PE: Doable?Say post-banking you find yourself in a ~5 BN credit fund that invests mostly in senior / mezz debt. How common or doable would it be to shift to a PE fund after a few years? I’d imagine the skill sets largely overlap (modeling / diligence, investment memos & committees). Clearly the credit invest...
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PE to Credit fund Hi everyone, I am currently working in a small PE shop in the Middle East, one recruiter reached out to me through linkedin working on a mandate for a Credit fund in London the position is for an analyst, they are looking for candidates with up to one year experience in leveraged finance I have 2 y...
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Private Equity Resume Template - Official WSO CV ExampleAttached 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. For those of you with deal or project experience coming from ...
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Emailing PE professional that you met 2 years ago through university presentationDuring my masters I had the chance to go to some presentations from PE funds in the city, before I started work etc. I am now almost 2 years into my IB role and was thinking to reach out to one of the presenters at the time. The guy still works at the fund (think Carlyle, Advent, Apollo,..) but I am...
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Do you guys show economic returns on your CV?quick and dirty for this one - just like the title, do you guys list financial economic returns on your CV on complete transactions you've worked on? ie. Sale of portfolio company X - realized < >%IRR and < > MOI...
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PE Interview Tricky Behavioral Questions - Need AdviceHey guys - long time reader but first time poster here - thanks to everyone for all that you do. I am currently an analyst in a MM M&A group. I have had a couple PE interviews with different MM firms and I have repeatedly got some questions that I didn't really know how to answer in a good way. I wa...
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Reaching out to current AssociatesHi I received an interview via cold email to a higher up in a MM PE firm. Is it weird to reach out to the current associates now for interview advice? Would that be viewed negatively or positively?...
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PE networking: subtle or direct?Hi all. I’m a current MBB Analyst, and I’m currently trying to network my way into interviews at top PE funds. Primarily targeting alumni from my current firm and undergrad school. For those of you who are on the other side of this equation at PE funds or who have successfully networked in the...
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CMO joining PE - help with compensation structureI have an MBA from a top five b.school and 17 years experience in marketing and brand management. I’ve been approached to join a consumer focused PE firm as their in-house marketing CMO to advise their portfolio companies and help with due diligence on deals. How should I be thinking about compens...
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Recent GMAT and B School InsightGents, Nearing the time I need to apply and go to bschool. I understand there have been similar posts, BUT given the nature of the GMAT, I feel anything on this subject older than a year is now dated. For those of us applying to b school and taking the GMAT I have a few questions: 1. Tips and tri...
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Sellside --> BuysideSpeaking with a few other analysts at my firm, we were talking about the single best tip someone gave us when we moved from the sell side. One of the analysts mentioned channel your inner Ed Chambers (spurring my username change). Fellow buysiders... how do you channel your inner Ed Chambers?...
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Tishman Speyer (REPE) analyst progranHi guys, I've been lurking for a while, and decided to post in order to gather some info about a program that attracts me. Anyone has information about TS graduate program ? - how do you get in ? (they just mention to ask your Uni career service...) - what kind of tasks are you given in each divisi...
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Clarion Capital InterviewDoes anyone have any info regarding Clarion Capital and their interview process? Any guidance or advice would be appreciated....
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Company Review: Audax Group - Good Brand/Experience heavy Work Tough CultureLots of deal flow and opportunity to build experience. Opportunities to work with portcos. Solid brand.. The firm culture is terrible. Workload is overwhelming. MDs will through lower level people under the bus....
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Would you live here for $200k?A lot of basis towards each coast and no love for the middle of this country. Would you take a job in one of the flyover states for $150k base, $90k(mixed Bonus) for 2 years then it jumps up VP, SVP ($400k base) etc? Corporate Development type of role with financial analyst mix. If so what city wo...
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valuation groupHey Monkeys- I am big 4 auditor-manager level-yes i know im old- did a rotation in our financial due diligence TAS group-fluffed up my resume to show some exposure to valuation. Trying to transition to finance. secured an interview with a PE firm in their valuation practice. I have done self study...
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Corporate Tax Rate affecting Middle Market firmsHi just want to clarify a quick concept. Does the new corporate tax rate apply to the Middle Market firms a MM PE shop would buy? So now those firms should be more profitable, correct?...
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stepstone groupHello Monkeys, I was searching pe's in San Diego and saw the StepStone Group. Does anyone know anything about them, possible deal flow, growth possibilities?...
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Dataroom Goodies in PENot to hype up the pedestrian, but in banking there's a lot of "fun" stuff that datarooms provide for young bankers. Tickets, breakfasts, drinks, "parties" and the like. For the girls / masochists they'll often send a chick to go spinning with you at 7 in the goddamn morning too. Like yeah occasiona...
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Secondary PE vs. Co-investing vs. Fund of PE FundsI am looking to have interviews at firms with following strategies: 1) secondary PE; 2) co-investing PE; 3) fund of PE funds. I'm struggling to come up with reasons why I'd prefer any of those strategies vs the others, and vs traditional MM PE. And I mean for both reasons to state in an interview, a...
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Lateraling from LMM EU to US pre-MBA possible? Since graduating from a semi-target in the US 2 years back I've been working for a LMM fund in continental Europe. It's a small shop (...
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Help with this Debt Schedule for Project FinanceHow do I go about this making a debt schedule given these sets of assumptions? _____________________________________________________________________________________________________________________ Financing Details A bank will provide a project finance loan of up to 60% of the total project cost. ...
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Company Review: Hamilton Lane - Hamilton Lane Full TimeI go through the recruiting process. People are nice and down to earth, but I have not started my work yet.. Not that I could think of. But the pay seems to be below industry average. But still, it is a solid place to start my career...
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Fortune 200 FP&A > Big 4 Financial/Strategy Consulting > Fortune 50 FP&A > Private Equity?(1 year, Financial Analyst) - Worked at a Fortune 200 company after graduation in Corp. Finance (budgeting, variance analysis, forecasting etc.) (1 year and some change, Senior Consultant) - Transitioned to a Big 4 firm, in management consulting (Financial Management/Strategy) - worked on some acqu...
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Looking for some articles on non-profit opportunistic real estate private equity (if it exists... example inside)If you take a look at Derwin Sisnett's Gestalt Project that's probably the closest example I can give. http://rethink.vc/community/ Is this common? I am looking for any articles you recommend about non-profit real estate development, with an interest in opportunistic investments in distressed asse...
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Best Practices for SA Prep — Nontarget undergrad made offer to PE MF Hey Monkeys, I've been wandering these forums for too long. I'm a junior at one of the Ivy League schools—not known for placing students straight into PE and its status as an "IBD target" is controversial on these forums—and was fortunately made a summer analyst offer at one of the megafunds (~...
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Boston Search Group? Any info?Anyone know anything about this headhunter? Any advice in working with them? Looking to join one of the shops they represent...
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Company Interview: Cambridge Associates - Investment AnalystThe most difficult or unexpected questions asked was when we were asked to look at a series of portfolio compositions and choose which portfolio had the best risk return structure. This isn't similar to the normal decision making process because they put extra emphasis on the Sharpe ratio. Overall i...
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Becoming operator for PE backed companiesI was wondering how one becomes a senior exec (CEO / CFO / COO) for a private equity backed company? Is business school a worthwhile step if the ultimate goal is to be an exec? Is spending time at a PE firm on the investing side a good use of time if the ultimate goal is to work on the operational s...
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Moving from McKinsey/Bain analyst to PE associateIf anyone has made this transition could they maybe share some insight into what the process was like relative to the standard IB -> PE recruiting path? Specifically, do most people recruit first or second year, would a banking internship right before you start significantly help your odds or potent...
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Modeling new tax lawHas anyone built a model incorporating the changes to the tax law they'd be willing to share? In particular, interested to see ways to approach the interest deduction limitation - disallowed deductions get carried forward so there will have to be some kind of schedule. ...
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Part-Time PE Internships in London - any opportunities? Could anyone come up with a few firms that offer part-time internships in PE (or maybe VC) in London? Right now, I only know of Better Capital that offers such an opportunity for students. Any other places you can think of? Thanks! ...
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Company Review: KKR (Kohlberg Kravis Roberts) - Growing place with good opportunitiesOverall company has a good culture and all the core businesses are growing fast. Additionally, the company is expanding into other asset classes successfully.. Some processes in the firm still seem hierarchical. Also the company hasn't grown as aggressively as it can in certain asset classes....
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KKR Growth Recruiter?Keep getting messages from Parker Linton for KKR London (growth team) - anyone knows who does recruiting for their Menlo Park office? Think HSP does their out of banking recruiting but is it a different firm for their growth team?...
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Not having any Transaction experienceHi Have an interview coming up, and know that my lack of transaction experience is a question mark. Any ideas on how I can mitigate that during the interview? I was thinking of revising on my technical (learned from the WSO/BIWS modeling videos) and showing stories of how I can learn things, etc. ...

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