Silver BananaTopic
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Lead Edge Capital - Upcoming summer associate interview - Insights?Title. I have an upcoming phone interview with Lead Edge Capital, a growth equity fund with $1B AUM that invests in Saas companies, unicorns, and tech giants. It appears to be a small fund, and I assume they don't take very many interns. Looking for any advice in regards to what they're looking for,...
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Experienced PE/VC, ways to get noticed for new search?Hey monkeys. I spent the last 5 years working at a pretty private single family where we did both PE and VC, and I left as a Vice President. I got good experience but it isn't a well known or particularly respected firm. I came up through the military, not banking, and as such don't have quite t...
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THL Interviews?Anyone have experience interviewing with THL? Any insight would be super helpful, thank you! Specifically looking for answers they like to hear to the "Why Us" question and also any detail around modeling exams....
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Company Review: Ares Management - Overall Solid Place to Begin CareerCasual office attitude/culture, good compensation, meritocratic, interesting coverage of multiple industries . Unpredictable work weeks, unclear career progression trajectory, sometimes disregard for junior resources...
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MM IBD (Analyst) > MM PE (Associate) > MM PE (Senior Associate) - Here to answer any and all questions!Currently a Sr. Associate at a well-known $1Bn+ shop. Long time lurker and first time poster. Given all the misinformation and misguided advice so prevalent on this site, I'm here to (hopefully) provide some real advice to private equity hopefuls. AMA!...
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PE firms in Canada: accelerated recruiting ?Hi world, I was just wondering if Canadian PE firms such as OTPP, PSP, OPtrust etc do accelerated recruiting like the banks ? assuming that you know someone. Thanks....
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Company Interview: Kamylon Holdings - Private Equity Analyst InternNo questions were necessarily out of the ordinary. All seemed fair. The interviewers were very helpful explaining something that I did not understand. If you do not understand something do not make it up or lie. What would result in a higher IRR? A bullet bond or a bank loan. What would be your in...
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Do IB Associate have less chance when making a move into Private Equity?Hi, I worked as an IB Analyst with BAML for 2 years and moved to a boutique as an Associate for a year. Now I want to make a move into private equity and want to understand if this becomes difficult at an Associate level, though I saved my one year of Analyst life previously. Thanks...
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LBO: Sources and Uses questionHi, I have one question on the sources and uses. **Assumptions:** EV = 100 Debt = 30 Cash = 10 equity value = 80 50% / 50% debt equity funding No fees **Sources and Uses - Version 1** Sources: Debt = 50 Equity = 50 Uses: EV = 100 **Sources and Uses - Version 2** Sources: Equity = 50 Debt = ...
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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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BBIB -> PE with Non-US UndergraduateHi all, Attending a relatively decent university down under in Australia. Not a feeder to the BBs as such (very limited alumni), but decent enough to have OCR with all Big 4 firms and all that (I know, this is nothing fantastic but it's not a complete shit hole).. Doing BCom/BSc dual degree, intern...
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How do you approach a PE company for funding ?How does a person raise PE for a venture ? everyone covered how the VC world works - elevator pitch, powerpoint, blah blah. But how is PE raised ? Any good books ? Say I own a fast food company - i want $10 million to increase scale. How do you go about this ?...
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Analyzing Manufacturing facilities in Private EquityAny advice/words of wisdom/primers on manufacturing facilities? I'm analyzing a facility that packs fruit. I work for a middle-market private equity fund. Many thanks in advance! ...
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Cold email the controller? Who to cold email. The controller at a PE firm I'm intesrested in has HR responsibilities listed in her bio and we have a common link by the same major. Should I cold email her for an internship or still go for the MD?...
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Including "dead" deals on resume?Hi all, I'm going through the oh-so-fun exercise of updating my resume for PE interviews, and I'm a bit stumped on if I I should include a recent deal I worked on that just didn't pan out. I want to include the deal because it involves an industry I'm interested in and can speak to in detail, but I...
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Management buyout PE fund Hi it's easy to research about LBO and growth equity PE funds but not much is mentioned about MBO PE funds. How does a management buyout fund differ from a leveraged buyout fund? I know MBO is all about providing the capital for the management to buyout the company where as LBO funds are all about ...
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Company Review: PwC - Review Headlinecontent with the hours and types of clients that I work on but do not want to be in financial reporting . boring work. work will specialize you for internal audit or financial reporting or another accounting position....
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Informing VC funds that rejected me where I am going?I've interviewed at a few funds where I got to the final 2/3 applicants. I was wondering if it made sense to give an update at those funds where I failed where I ended up? There were a few that ended their rejection emails with "Let me know where you end up!" and the like, hence why this has occurr...
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Internship After Freshman Year?I am currently a freshman at a non-target school and am interested in VC or PE as a career path. What are some ways to get an internship at a startup or a VC fund? Is it best to even look for an internship at a startup? Should I be networking more so in the fall? Or should I wait until first semeste...
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PE internship applications: when???Hello everyone! I am studying an MSc at a target in London and I was wondering when is the best time to apply for summer internships at PE firms here given that they don't usullay offer them. From what I have read they have a less structured recruiting process than IBs. Thanks!!!...
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exit ops from ( think Imperial Capital, GLC )exit ops ( think Imperial Capital , GLC etc. ) undergrad applying for analyst - hoping to jump to PE...
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PE case study partners? Hey WSO, I'm a MBB consultant looking to participate in PE recruiting in about 3 months. I was wondering if there's anyone - consultant, banker, or none of the above - also planning on interviewing for PE and interested in doing investment case study prep? Running through cases with partners was d...
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IB or HF internship for undergraduate?First time poster here! I am a penultimate year bachelor student in the Netherlands who wants to go into PE. This summer I have the opportunity of interning at a $400MM HF but I'm still waiting for replies for some IB positions. I have also applied at a megafund but I am not very hopeful about that...
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Apply for PE position without M&A transaction experienceI am currently a second year analyst in a bulge bracket bank based in HK and considering moving to a PE firm. Understand that most PE firms look for candidates with MA transaction experience. However, all the deals i have worked on or am working on are IPOs... Will that be a deal breaker?...
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Seek advice about undergraduate major and career path for VC My son will start his senior year of high school this fall and need to submit his college application(ED) before Nov 1. He is very interested in pursuing a career in the VC firm in the future. However he is uncertain of what major he should start from and what the ideal VC career path is. He is thi...
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Accountant position in VC firm and hope to transition to associate down the roadBackground: 2 years of experience in public accounting Recently I got a interview for a staff accountant position at a nice VC firm. But I always want to do VC/PE associate. Is it possible for me to start as a staff accountant but try to switch to do VC/PE down the road? Is this doable? I want to h...
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Long Ridge Equity Partners? Little information onlineDoes anyone know anything about Long Ridge Equity Partners? There isn't much information on them here or on other sites. How are they regarded in the PE / growth equity world? Is it hard to get an internship / analyst role there? Any info / thoughts would be greatly appreciated....
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Do's & Dont's - 1st Year Private Equity AssociateThere are a lot of posts on WSO about IBD, the internship, the do's & don'ts, how to handle PE recruiting, etc. I feel like there is a lack of material on the do's and don'ts of being a new PE associate. I felt like this definitely would have helped me handle the transition, so just throwing some i...
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Senior hoping to do Private Equity after Investment BankingHi guys, I'm a current senior at a semi-target that was lucky enough to get a FT offer in IB at one of the stronger BBs (think GS, MS, JPM) in a mid-tier group. I know it's a bit early to think about this, but I was wondering if there was anything I could do in my senior year in college that could p...
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Dealing with a Dumb Senior Private Equity Co-worker who the Boss likes? Hi guys - might be a bit of a read here but need your help and guidance. For background, I’m at a MM PE shop in a pretty small team. There are two guys above me, MD and a D. The MD and D joined at the same time and I was hired by them, one year behind them. I enjoy working with my MD, he’s ast...
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Sales —> VCHey Monkeys, it’s been a while, some of you might remember my earlier posts. I’ve since found some direction and have been diligently working to break into the venture capital. A bit of context, I’ve been a serial entrepreneur, with limited success; sold small lifestyle business for $xx,xxx ...
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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 vs Consulting?Hey everyone, I am currently a first year analyst at an M&A group of my bank. I really appreciate the learning opportunities and experiences I am getting but am having some questions/doubts about next steps in my career path that I was hoping this forum could help with. Initially, my plan was...
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VC shadow carry termsI am considering joining a VC firm in a non-investing role at a Principal level. The firm is fairly young and in early stages of raising Fund III. Part of the package is shadow carry in both Fund II, and future Fund III, but I have outstanding questions regarding the terms of the shadow carry, and...
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Company Interview: Northwest Venture Partners - Venture Capital Analyst- Where do you see yourself in 10 years? What will you do from now to reach that goal - Can you tell me about the different valuation methods that VCs use to value start-ups? Can you rank them in terms of usefulness? - What are the different cycles in a fund-raising cycle of a start-up. What's the d...
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Difference between Associate & VP?Hello board: I'm still pretty new on the board and started in PE earlier this year. I realize the answer to this question will differ and vary from firm to firm but I was wondering what most see as the difference in responsibilities for an associate and a VP? Is it just a mastery of the associate...
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Working in PE Firm straight out of college?Hey WSO, So I'm currently a senior in college and looking at job opportunities, and one job I'm currently looking into is at a boutique PE firm around Cleveland, OH. I've had two phone interviews which I thought have gone really well, and I'll be visiting the office next week for a formal interview...
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Prepping for PE interviews (pre MBA MBB consultant)Hey Team, Any materials that folks would advise for someone beginning PE recruiting from a McKinsey/Bain/BCG perspective? I have the WSO PE prep pack, wondering what else anybody advises? Given my consulting background I'm relatively weaker on corporate finance/accounting, but have done quite a few...
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GMAT Test Score needed for PE?Do PE funds want to see that you've taken the GMAT and scored well? Do SAT scores matter? What are the score that MFs look for?...
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Big Four to PE - MBA or not?Hi All, I could use some career advice. I currently work for the Big 4 in London. I've been working in Audit for 3 years and have passed all of my ACA exams first time. I've done some work on PE portfolio companies. Over the last year I've been trying to break into Transaction Advisory Services....
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LBO Case Study AnalysisGot this recent case study for LBO/Returns Analysis modeling, and really need some help trying to figure out how to attack this - can anyone provide some help or answers (DM is also preferred)! Specifically with: - How do I structure this out (steps - i.e., make sources/uses, then P&L (do I go to i...
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Dallas PE Funds?Haven't been able to find anything recent on this, anyone have any opinions on top Dallas funds? Just googling around I found the following list: NGP Encap Lone Star Insight Trive Kainos Tailwater CenterOak Redbird Highland Prophet Gauge Trinity Hunt Highlander Pharos CIC ...
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What are the day-to-day challenges faced by PE associates?I'm trying to understand what the challenges are day to day of being an associate: not necessarily things that are hard and straight forward, but things that are real head-scratchers. For example, a consultant might have trouble reconciling two mutually inconsistent datasets in building a market g...
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Secondary PE ModelingI have a 2nd round interview coming up with a secondary PE fund. They do mostly LP secondaries of funds that are majority invested. I'm still trying to understand exactly how they value these LP interests. In the round 1 interview, they told me that they do a bottoms up analysis on the underlying p...
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PE Partner trackAre you automatically put on the partner track if you did the IB Analyst -> PE -> MBA -> PE ? ....
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Transportation problems reducing income in an LBO targetWe have identified an LBO target that is a Mining company producing Salt and Soda ash. However, the target has a market in a foreign country situated 861 km away. The target is doing good and has positive cashflow, however there is still room for growth as the demand is not being met. The only probl...
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Post-MBA Associate -> PEHey guys. I'm currently in non-target MBA program (~20), coming from ~2.5 years of working at a 750m+ private equity family office. Prior to that I spent 2.5 years in Asset Management investing across all asset classes for institutional clients and got my CFA. I decided to go back to b-school to ex...
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Venture Debt/Lending Industry and Career Opportunities 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 ...
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Company Interview: Triangle Capital Corporation - triangle capital corporationwhat do you want to get out of this internship? why mezzanine financing/what do you know about mezzazine debt?-I answered with a simplified version of what I googled the night before. Expensive debt with some characteristic of debt. Mentioned warrants (don't say this, warrants aren't common anymore)...
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Evaluating Portfolio Company TalentDoes anyone have any criteria or metrics they use to evaluate the performance of key individuals at their portfolio companies? Specifically interested in the CFO....
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WSO Basic LBO Model #1All, Thanks for the help here. I've recently been going through the basic lbo models that WSO has as part of its prep package. One thing I am really confused about is the way they put minimum cash required to operate as a "Use of Cash" in the uses of cash section. Is this best practice for how one ...
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MM PE Analyst Exit Opps -> Megafund?Hi guys, I have an offer from a MM PE shop for an analyst position (think L Catterton/CCMP/Crestview level--about $10B in committed capital). To be frank, the compensation isn't as high as I had hoped, and from what I gather, if I get promoted to associate (which is a big if in itself), it wouldn't ...
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Work on deal team at a MM PE firm or work my way up at a larger bank?Currently employed by largely unknown MM PE firm on the portfolio management side and weighing my options: A) transition into our deal team (dept. director has agreed to phase me in if I want) B) or take up an offer to work abroad at a much larger bank with no guaranty of what my function will actua...
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Sponsors Paying for Lender's Legal FeesIs it market for Sponsors to pay the legal fees of their lenders? Every deal I have seen is set up that way. It seems like a stupid norm. The Sponsor has to pay top dollar so an expensive law firm can defend the interests of the lender and actively negotiate against the sponsor! The lender is incent...
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Company Review: Rothschild - Good place to start and have full exposure to senior professionalsSmall team in the Merchant Banking division; Full exposure to senior professionals at both the investment team and Investment Committee. Bad culture among colleagues; Relatively slow deal flow (at least during the period of my internship)...
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Private Equity CompetitionsI'm currently an undergrad at a non/semi-target school, and looking to do some private equity competitions and gain exposure to the field. I understand that there are not much PE competitions for undergrads out there other than Silver Lake, and was wondering if anyone had heard of other competitions...
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Opus Advisors Client ListHi all, Thanks for the help here. I tried searching online but had a hard time with finding this information. Does anyone have Opus Advisors' client list? I know Catterton is one. ...
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Real Estate PE LBO - Exercises Dear all, I made it to final rounds at a large Real Estate PE Firm. I am a second year undergraduate student and therefore have not to much PE interview experience. I would be super happy to find any helpful material to train for Paper LBOs, as I will be given short 20-30min cases during the inter...
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MM PE vs. Consulting vs Credit out of UndergradHi All, Deciding between top PE firm (focused on MM/growth companies) vs. top consulting firm (MBB) vs a credit group of a top PE firm (think Ares, Apollo, BX, etc). Looking for thoughts/considerations here in terms of pay, prestige, exits, lifestyle, etc....
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Audax Group PE vs. Guggenheim IBD SA Summer analyst offers for both. Wondering what would be a better option long term, in terms of exit ops and general prestige/reputation of the firms. ...
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Difference between Portfolio Manager and Private Equity Investment Teams?Is the difference just one is public vs private? Or is PE just one type of portfolio management where managing money in one asset class (deal-making)?...
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Tricks of the TradeJust want to share best practices and hear what other people do to be more efficient. I'm wrapping up 1st year associate in middle-market growth equity shop... PortCos * Keep a folder for each portco in outlook where I save all correspondence * Save all files received from each portco in spec...
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Interviewing at Boutique retail REPE - No Previous Experience and mediocre excel skillsGuys and gals I'm not going to bullshit you on this one. I've made a tall order and now I have to fill it. I've been interviewing with a boutique REPE firm where they're looking to raise $100m in the next little while. Since it's a small firm (...
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DCF Valuation down to the unit ecomonicsHello, I was hoping that someone would guide me to a course on how to value a company using DCF down to the unit economics. I learned DCF in grad school but never too deeply. Thank you!...
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Physician, Consultant, no deal experience but interested in PEI'm a foreign trained physician, 2 years in MBB but no deal experience (or didn't do due diligence studies), thinking about moving to PE. I plan on taking financial modelling and valuation courses to develop these competencies but wonder if no deal (or DD) experience makes it near impossible to get ...
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Company Interview: Alpine Investors - Investing Analyst InternIn the phone call with the principal, the questions were all behavioral but some did catch me off guard: 1. What were your low and high points in high school? 2. Same as above but for college. 3. If I were to go into a meeting with the investing team and I had to tell them why we should hire you in ...
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Anyone heard of XIO Group?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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Entry level jobs in Canadian Private EquityI know the question has been asked once or twice, but some 10 years ago. I am going through the recruiting process with a series of PE funds in Canada and wondering about comp / benefits and drawbacks of each. Anything quantifiable would be helpful. Funds in question: Onex Partners Altas Partners Bi...
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Burning debt questionsCan someone please explain the following questions regarding some concepts related to debt products? I haven't found anything online that has been helpful. 1. Debt types: what is the difference between a term loan (a&b) vs. 1st/2nd lien term loans? 2. Why is 3 mths LIBOR the most frequently used b...
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One Equity Partners?Cheers all, does anybody have insight on One Equity Partners (OEP)? There is a thread on here, but it's 9 years old. I'd like to know stuff about working hours, deal flow, pay, the interviews (either internship or full time), etc. They posted a job ad and I'm thinking of applying - so any insigh...
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Energy PEWhat are the best Energy PE funds? Riverstone, Energy Capital Partners, etc.. also which mega funds have the best energy arms? Thanks!...
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Does graduating in 4.5 years look really bad to PE firms?I had some health problems in my first year from a nerve injury, won't go into it, but the chronic pain I suffered was material. It was advised by my doctor that I take a reduced course load at the time. I've fully recovered from that incident and managed to do well in school in spite of it: I'm cur...
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Deal Sourcing& Industry research Unpaid Worth it or Not?Hi. I am a financial risk management master student of the second year, I recently have an unpaid internship offer (still applying for other positions but no response yet......) from a PE startup. As imagine, doing deal sourcing through the online database and provide industry research reports. The ...
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Nets Acquired by Hellman & FriedmanHellman & Friedman agreed to acquired Nets for 5.3 billion dollars. The deal is recent in the payments-processing sectors as it continues of the consolidation of the industry. [quote] The deal for Nets comes less than two months after Blackstone Group LP and CVC Capital Partners joined forces to ac...
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Clayton, Dubilier & RiceHow are these guys viewed vs. some of the other major PE firms. Are they considered on the same level as a KKR, TPG, Blackstone etc., or more of a middle market PE shop??...
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Consulting to PE/VCI'm considering doing an MMS and most of the placement are in Consulting. If I'm able to get a consulting position, how hard will it be to break into PE or VC? ...
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Distressed Debt Investing I know Moyer is the consensus on one of the few books on a short list to read for distressed debt. Does anyone have any other suggestions? And for Moyer, can anyone point me where I can download a PDF? Or PM? Much appreciated!...
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BX PE First RoundBy some stroke of luck, I have landed a BX PE first round interview – does anyone know what to expect, i.e. if the interview will be mostly behavioral, mostly technical, or a mix of both? And should I be expecting typical IB technicals? Any help would be appreciated!...
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Company Interview: Hovde - bbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbb...
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Initiating interview process through headhunter or contacts at firms?I spent a lot of time networking during college with people at the firms at which I'd like to work. My question is this: when I am ready to start interviewing, do I reach out to my contacts directly and ask if they have any opportunities I can interview for, or do I inform headhunters of my conne...
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Parthenon Capital Partners - new Analyst program, reputation, lifestyle?Was wondering if anyone had any in-depth information about Parthenon Capital Partners. They recently posted that they're recruiting Analysts right out of undergrad, for summer 2017 start, on my school's (target) job board. This is apparently the first time they're doing an Analyst class, probably fo...
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Small PE shop onsite interview what to expect?Hi everyone, so I have an onsite interview at a small PE shop this Friday. The internship was supposed to be just sourcing deals and some qualitative research, but I asked the owner if interns have chances to get exposed to financial modeling. He called me the afternoon I sent him my resume and he a...
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Investment team salaries as percent of total management fee?Trying to gauge my compensation and would like to know what percent of management fees usually go to salaries. Does anyone have input? For comparison, i'm at a small fund with less than 10 investment team members...
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