Silver BananaTopicReplies
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One Rock Capital - Thoughts?Does anyone know about this group or has ever interviewed here? They have an office in NY and a small office in LA....
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Funding in the Cannibis IndustryHi everyone, I have a long shot question, but I thought I'd float it to see if anyone can give me some guidance. My brother lives in Southern California and is a chemist by trade. He and a former colleague (also a chemist) are trying to start a cannabis testing lab. It seems that's the bottlene...
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Why do ppl choose megafunds over MM?Wondering about this. Is it just the prestige/pay? Seems like your experience would be quite limited at megafunds (type of work similar to banking, just modelling focused). Why don't more people pursue MM -- especially if it is less competitive? Moderator note: This has turned into one of the most ...
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Small cap funds investing in Africa? Hey guys, I'm starting a quasi-PE shop in Accra, Ghana 500k to 10m USD deals. Not your traditional PE shop (happy to explain how it's different) but has anyone done any deals within this ticket range? or know of any companies that invest in small and growing businesses on the continent? Cheers...
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Breaking In from Undergrad: Energy PEYou definitely hear about select students from HYPW breaking into PE straight from undergrad for relatively generalist roles. Do students from places like McCombs or Rice have any similar shot at breaking into Energy PE MFs in Houston? Or are they stuck with Houston BBs and EBs? And I realize if...
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Help: Accept PE Offer or Corp Dev Offer?Delete Please... This one is not necessary anymore, so please feel free to delete. Thanks a lot. Much Appreciated ...
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PE Finance QuestionHi Everyone, I have a quick question. In a private equity firm/hedge fund firm, which department handles the carried interest / management fee calculations? Who actually set the funds up and keeps track of the deal by deal revenues that come in & report on them? I assume there is a department that...
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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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Cold RecruitingHey guys - Have you had any experience of reaching directly out to PE firms? I have had some initial interviews through headhunters and networking but wanted to know an approach for cold recruiting. I have a list of firms that I want to target but I am having difficulty deciding the best way to att...
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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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Watson-Gleason Test for PE InterviewHey all, I interviewed with a LMM PE firm a month ago and they got back to me yesterday saying they wanted me to complete an test called the Watson-Gleason Test. I see on google it is a critical thinking test typically used in law firms for hiring purposes. Does anyone have any experience with it ...
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Follow Up After PE Interview?Interviewed with a Upper MM buyout fund in East Coast USA last week Thursday. They mentioned the next round will be the following week (as in this week). It’s already Wednesday, still no word from them. Should I follow up with HR? Thanks ladies and gents!...
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Pre-Money vs Post Money ValuationBasic question. Let's assume the following Net Debt as of today is $0 Year 1 Sales (LTM) - $10 Year 2 Sales (1 year forward)- $20 Year 3 Sales (2 year forward)- $30 I am looking to invest $5 today (primary infusion) at an EV/Sales (1 year forward) multiple of 4. This means my EV is $80 and given N...
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Dealing with uncertainty in the job searchWell, I did it. I secured my first buyside job offer. But, it's not my top offer. Think of it this way, there are three fund types I'm interested in: fund type A is my top priority, fund type B is my second priority, fund type C is my third priority, and I just landed an offer for fund type C. I th...
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Which sophomore internship would be valued more highly to MF analyst recruiting?Which of these two internships would be more valuable if I want to recruit for MFs in my junior summer? One is with the direct private equity group of a large pension fund. The other is with a large PE fund of funds (think Harbourvest, Adams Street). ...
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Tecum Capital - Thoughts?Any thoughts from the community on whether this firm is a solid move, coming from a MM group at BB? They are based in Pittsburgh and have a hybrid structure consisting of an SBIC fund that is their primary strategy and an LMM buyout fund supported by permanent capital from a single HNWI. Title wou...
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Is GoBuyside a joke?Guys - just want to get your thoughts on Gobuyside, I haven't used them extensively before. Have gotten their previous updates on recruiting and comp survey and stuff here and there. Other than that, I haven't applied to much positions on their website. Recently, there have been a couple postings t...
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No name boutique or Big 4 TAS to get to private equity?This is my first WSO post. I'm finishing my sophomore year at an SEC school with a 4.0 GPA and a double major in finance and accountancy. When I was in high school, I didn't even know what investment banking or private equity was, and planned to start in Big 4 auditing, switch to private accounting...
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Private Equity vs Venture Capital - Differences and SimilaritiesThere's a fine line between private equity and venture capital firms. Many get them confused because they both invest in private companies and attempt to sell that equity at a profit down the road. Yet there are several critical differences between the two. Venture capital and private equity firms...
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TPG Capital - Review - Natural ResourcesIt was a sweatshop but great people and learning. Fantastic name brand. The team overall has been a positive community in terms of network. . Constant stress and lack of visibility into personal performance is one issue - further, you were siloed into specific industry verticals relatively early in ...
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Levine Leichtman / Platinum Equity (LA)Anyone familiar with Levine Leichtman and Platinum Equity (both in LA)? Curious on reputation, compensation, culture, etc....
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Vista Equity Partners - Interview - Investment Research Why is Vista special? Where do you see the technology industry in five years? What are the driving forces of innovation in the industry? The interview was pretty standard, candidates should be able to show knowledge about the company and their investment strategy. Candidates should also understand...
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Silicon Valley Bank - Interview - Venture Capital- Tell me about a tech company you've been following -> just told them about a recent IPO that had been in the news - What are your interests in tech -> this was asked after I mentioned that I was a tech analyst for a group competition for a club, they then took the question to drill me on all thing...
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CPP Investment Board - Review - Leveraged BuyoutsGreat culture - Canadians are generally pleasant and easy to work with. Hours are reasonable as well. . No carry at the post MBA level, compensation is below average still. Most of the team sits out of Toronto at the moment....
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TPG PE - Business Unit Finance opportunity questionHello! I was recently forwarded information on an opportunity at TPG, and it's described as follows: "An Analyst in the Two-Year Program will focus primarily on performing analytics, financial reporting and accounting associated with Business Unit (BU) Finance, which supports the TPG private equity ...
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International Finance Corp Venture CapitalHi all, looking for any information on recruiting for IFC's venture capital team. Anything is appreciated. Thanks!...
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Westport Capital Partners - Interview - Real EstateMost difficult questions were asking the following: 1.) What are the top prospective markets in the United States? 2.) Identify foreign markets worth investing in? 3.) If you're looking at an asset in Suburban Houston, what submarkets would you be interested in? 4.) What is a real estate invest...
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Going straight into PE megafund skipping IB: Need AdviceI will be going through SA program (Return offer on the table) at a top PE megafund and I was wondering if anyone could provide me with some tips and advice. I have done internships at well-known firms (BB, etc), but I have zero IB experience....
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Blackstone Group - Review - Leveraged Buyouts-Unlike most megafunds in Hong Kong, BX has a relatively big analyst class. It feels like a real firm as opposed to a satellite office -Get to look at the best deals in the region -Get to cover ex-China deals as well, including Japan, Korea, Australia, etc. -Best-in-class people. -Not many things -A...
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How is pre-MBA PE experience in a different emerging market viewed by MFs and other mid/smaller firms here (in US)?Something like this: PE in emerging market--->MBA(say Columbia) So how is that experience viewed by firms here for hiring for post-MBA PE roles out of top MBAs? I've heard that they value your knowledge of the market here but what if you don't have any? Is that a deal breaker? Asking this for a...
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Credit Suisse - Review - Private Equitylove the group I work with exposure to high level employees opportunities for growth within the group. work can be mundane as a first year analyst deal teams can be too lean on occasion lack of application of technical skills at times ...
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Blackstone Portfolio Operations ProgramThere are a few posts about this group at Blackstone, but unfortunately they don't contain much (if any) insight. I'm curious if anyone could provide more background about the role and whether it is more back office (portfolio valuation, treasury, cash management, reporting, etc.) or tactical consul...
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U4 / U5 when switching from IB to PE?Hi guys - I have a few questions regarding U4 / U5 as the web doesn't return any good info on it. - The Bank I left have sent me U5 that was submitted to FINRA - My current PE shop doesn't require registration, but I don't want to loose the license - How do I amend my U4 to let FINRA know that I ...
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Cold Emailing PE Head Advice I go to a very small non-target school and will be joining a second tier BB (think BAML, Citi, CS) at a foreign city (think HK, London, Tokyo) as an Investment Banking Analyst. I am starting to think about exit ops, and my school has an alum who founded a Global top 50 AUM PE shop that is prevalent...
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Blackstone/KKR/Apollo Internal Audit vs. Small Hedge Fund Investments AnalystHi guys! I would really appreciate your input on this thread. I wonder which one would you go with, a middle office role at a very prestigious mega fund or becoming a hedge fund analyst in a small hedge fund? Both positions are in New York City, and pay are similar - with more perks and better benef...
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Best B-schools/programmes for Project Finance fieldWhat are the best schools/programmes if I would like to set my career on infrastructure PF? Are there any good jobs in the field out there? I hear that the UK is pretty much secondary market. But I'm sure many banks (i.e. Macquarie) must do a lot of greenfield investments. Cheers....
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KKR Infrastructure?Anyone have any insight into this group? Anything around culture, reputation, etc. would be helpful. ...
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Family Office Private Equity Pay?Hey all, just accepted a role right out of undergrad at a Multi-Family Office. That being said, 80% of their funds go to PE. So, per their words, I'm effectively "an inexperience PE analyst".I was wondering what comp is at these "PE Style Family Offices" as they have been on the rise lately in the ...
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Family Office Private Equity PayHey all, just accepted a role right out of undergrad at a Multi-Family Office. That being said, 80% of their funds go to PE. So, per their words, I'm effectively "an inexperience PE analyst".I was wondering what comp is at these "PE Style Family Offices" as they have been on the rise lately in the ...
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Value of bankers on buyside transactionsI'm curious to gain some insight from the PE Investment professionals on here how bankers have added value when hired to advise on the buyside. My understanding was that advisory roles on the buyside for PE shops were usually nominal and a "reward" for also providing favorable financing. If not, ...
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Interest Rate Spreads for Private Equity BorrowingHey guys, Just working on a project for school and trying to find historical general interest rate spreads for different tranches of debt used in LBOs (revolver, senior, sub, mezz etc.). Does anyone know any good places to look for that data? Specifically looking at a lower mm manufacturing company...
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Non-Target 2 years out of undergrad - Private Equity InternshipQuick background on me: -2016 non-target with a BS in Finance.. major GPA 3.44, overall 3.28 -Enrolled in a 2 year rotational internal audit program in July of 2016 -Realized I hate audit and want a career in banking so I took the CFA route to gain credentials (passed L1, taking L2 this June) I ju...
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What happens to cash and debt when a PE firm takes over a public company?Quick question that I hope some of you experienced banker can help me understand. Say a PE firm is looking to take a publicly traded company private. Let's assume the public company has: Market cap: $500 Debt: $200 Cash: $100 Enterprise value: $600 For simplicity, let's say the PE firm doesn't p...
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Alinda Capital Partners - Interview - N/ABehavorials were of course straight forward. The most difficult part of the interview process was the open-ended valuation with limited information to begin the discussion. They were focused on the type of questions I asked and were quick to follow up with additional scenarios (ex, how would interes...
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Let's talk Growth Equity: Where do Accel-KKR, Goldman Growth, and Google Capital rank amongst top growth PE shops?**Here is a list I found on CB Insights of the top Growth PE firms.** Summit Partners Technology Crossover Ventures Insight Venture Partners Lead Edge Capital Susquehanna Growth Equity JMI Equity General Atlantic FTV Capital OpenView Venture Partners Stripes Group Spectrum Equity Updata Partners I...
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Financial Modeling in Early Stage Venture Capital in 2018Hello all, I am just under a year out of UG from a semi-target school (think Duke/Dartmouth/Northwestern) and have operating experience at various software companies, and, long story short, am hell-bent on breaking into Venture Capital pre-MBA. As I network with alumni, family friends, and professio...
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No interview scheduled after invite, should I follow up again?I've been in touch with this firm since April 2017. Finally, after months of back and forth, they invited me to interview in December. They said they'd reach out early January to schedule for a early-/mid-January process and late January start date. That never happened. I followed up late Janua...
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Special situations opportunityHi all, looking at an associate role at a special situations fund. Wanted to understand the perceptions of these funds and exit opportunities. The fund is focused on privately originated investments, backed by financial or real estate assets. 2/3rds of their investments tend to be debt, and 1/3 eq...
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AMA: GS Special Situations >> Founder of a Private Equity StartupMy experience bridges three worlds: investment banking, private equity, and startup life. Here’s my story, in a nutshell: I graduated from the University of Texas at Austin's Plan II and Business Honors programs and was hired directly out of undergrad to GS. I worked in the firm's Special Situat...
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Distressed vs. Credit vs. Special Situation vs. Turnaround PE What is the difference between all 4 types? I've been able to find a lot of PE funds with credit arms, but what are the big names in special situations and turnaround PE? Private Equity Strategies The following was originally posted by certified user @I Invest", a private equity associate, and has b...
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8 years old with no finance experience, too late to get into PE?Hi everyone. I go to a top feeder elementary school and hoping to get into MM or hopefully MF PE down the line. I'm trying to transfer to a target middle school soon so I can work my way into an elite prep HS -> HYP -> BB -> MM/MF -> HBS -> MF. I just got a piggy bank but a few friends already have...
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Blackstone Group - Interview - EnergyOther than resume related questions, questions about investment decision with case studies through the interview. Asked about how I would value a particular investment, key risks, key value drivers. Asked about market trends, trends in private equity space and overall macro economy outlook. Was also...
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Criteria for funds to be considered MF, as opposed to MMHi all, Going over a lot of topics in WSO, there are a lot of mentions of MM and MF PE funds. Just curious to hear people' opinions on what classifies funds as MM vs MF? Total AUM? Enterprise value of investment? Equity check size? Size of funds most recently raised? Thanks!...
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Just got laid off from my 3rd PE job in 4 years - help!I just got laid off from my 3rd PE job in just over 4 years (all MM). I am pretty devastated as I thought this was the one I was going to stay at for awhile. This time I was a VP (first two as Associate and Senior Associate), and was laid off after less than a year there. Last two PE firms were bout...
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Any experience w/ LBO or M&A of a Traditional Asset Manager by a PE Firm?Hi all, I couldn't find much relevant materials on-line so I thought I'd post here. I'm in IB and a PE client is interested in (preliminary) discussions regarding a potential acquisition of a traditional asset manager (mainly equities and some fixed income). No talks regarding structure (i.e. strat...
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who is job listing site accept Cryptocurrency?World First Job Posting Sites Who Accpet Cryptocurrency.Jobstoday is the first global platform supporting cryptocurrencies...
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Few Interview Questions1. Company A has 30x P/E and its net income has a annual growth of 30%; whereas Company B has 10x P/E and its net income has an annual growth of 10%. Which Company will you invest? 2. A Company's EBITA is 100mm, and you are purchasing the Company at Year 0 at 10x EV/EBITDA. Assume the Company has n...
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Onex - Interview - Private EquityTechnical Question: 1. If you had 2 million to buy a house and the bank was willing to lend 100k at 1%, 200k at 2%, 300k at 3% etc. How much would you borrow? Eventually, interviewer said that your required rate of return on your own equity is 7% what does that mean? 2. You own a bakery and sell ...
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Plug and Play Tech Center - Interview - GeneralistThere was nothing that was especially hard or difficult. Case study consisted of evaluating different tech companies based off of various metrics, i.e. previous funding raises, market or product growth rates, various financial multiples, management, etc. I had to utilize power point & excel to org...
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How to value a company that is not listed on the stock exchange Hello people, First, pls, how do you know whether or not a company is listed or unlisted? Also, how do you carry out valuation for an unlisted company? Basically , the scenario is that I have a private equity client who wants me to value some mining companies for them. They need 3 of these companies...
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Worth it to join no name MM PE Fund for the experience?I currently work in corporate finance and came across an opportunity at a middle market no name PE fund in my area. It has strong reviews on Glassdoor but the salary is well below what I'd expect someone to make at a bigger fund. $50k base with $15-$25k bonus. If I worked here for 1-2 years would th...
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Please rip apart my PE/VC information Memorandum (attached)Hi all, we are listing a SPAC that focuses 100% on Mining companies. The model is simply a listed PE/VC firm. Find attached our Memorandum and rip me apart like a Monkey. Tell me the fund is terrible and advise me where you can, I really respect the wealth of experience in this form. In the last se...
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Other - Interview - Generalisttest test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test test ...
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Preparing for my first day as an Associate at a Venture Capital FirmAs the title says. Left my previous role last month, earlier than expected since I was finishing up a project and it didn't make sense to move on to another one. Parted on great terms. The problem is I've been off for two weeks already, don't start the VC role till early May and I'm already bore...
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Bregal Partners Full-time AnalystAnyone knows what's going on with Bregal's full-time recruiting process? Had a first round with them but haven't heard back yet...
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CAIA Level I Test MaterialI recently took the CAIA exam and have a lot of leftover material/study guides/powerpoints that I paid good money for. I am wondering if I bundled all my files if people would be interested in purchasing them. Thinking $40 for it all, compared to the hundreds and sometime thousand dollar study guide...
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Blackstone 2018 Future Women Leaders Programme Has anyone heard back from them? The event is in a few weeks and I have not received an inviation call or a rejection...
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Advent International Corporation - Interview - Private EquityWhat are the most important drivers for value growth in a industrial roofing company? What drives revenue and EBITDA growth for a pharmacy? Why are you interested in our firm versus other options? What unique viewpoints will you bring that other candidates will not? Most other questions were fairly...
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Hanover Investors - Interview - Private Equity For the first round, excel test included sorting data and then making a decision. Why the current business models for used cars lot are working now more than they were last over the last 20 years. The question was off the cuff so you have to just talk him through your answers. The Case study has...
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Economics Ph.DI started learning Chinese this year and I would like to be fluent some day, for both personal and professional reasons. I will be starting as a banking analyst this summer after graduation and because of the time constraints of work, it seems unlikely that I will be able to keep up Chinese. So at ...
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Blackmore Partners - Interview - Mergers and Acquisitions “They’ll ask you things like, ‘Walk me through your work experience… What’s you’re number one achievement? Tell me about a time at work when you had to deal with a conflict-based situation” “How do you value a company?” What is the appropriate discount rate to use in an unlever...
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How hard is it to land a job after internship?It looks like there are dozens of opportunities to get an internship in PE, and the requirements are not so strict. However, is it possible to land a job after the internship considering that they have way stricter requirements for paid employees such as years of experience? Is it even valued to hav...
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The mother of miya's appearance in The mother of miya's appearance in the fashion show the beauty of the United States to win Jimmy Choo praise. Sexy, elegant, healthy, confident, this is The mother of The "appeared in 2018 Shanghai international fashion week, The big show Atelier, to leave The new impression of various fashion medi...
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The Abraaj Group - Review - ResearchGenerous Pay. Intelligent colleagues. Great location. Good employee & alumni support. High visibility. High Exposure to all teams, senior mgmt, processes and business partners. Good growth prospects. . Hire and Fire culture. Work overload (around 12 hrs a day, sometimes couple of hours on weekend b...
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Pros/Cons for joining a small, new VCHi, Does anyone have any insight about whether it's a smart idea to join a small, new VC (~50m AUM) backed by a celebrity, as an investment associate (2 years out of college)? I currently work in asset management at a BB, but have always been interested in VC. The only issue is that the pay is low,...
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Really need some career advice. Thank you for your time.Hello fellow professionals, I am a first-year law student who has no interest in practicing law, but I am interested in a career in finance. My question is: which job will put me in a better position, a front office finance job in a decent sized PE fund back in Beijing or a non-front office financ...
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CPP Investment Board - Interview - MiningThe interview process overall was highly technical. There were a very wide range of technical accounting and finance concepts tested as well as macroeconomic principles. The interviews were several months ago now and I don't honestly remember in detail all of the specific questions asked. Some inc...
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Direct PE to Fund or Co?Hi folks, Question for you - have you seen any transitions from direct PE to co-investment or fund investments? If so, what would some of the reasons that someone would want to make that move apart from lifestyle? Just trying to get a feel out there to what some other people might be thinking that...
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private equity agriculture investments in the Southeast Asian I was trying to find a good list of Agriculture PE investments in the Southeast Asian, I've tried searching but haven't found anything useful. Anyone know which company?...
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MM PE Analyst Position Interview - No Response post 15 min chatHey everyone, I applied for an analyst position at a MM PE firm. Recruiter reached out to set a short 15 min call (asking typical behavioral questions) and said I would hear back by the end of the week, but most likely by the end of the day the following day. She had said the interview process woul...
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LBO Practice with CIMHey guys, does anyone know where I can find the best resource to practice LBO modeling using a CIM? Anything that walks you through how you start with a CIM and build a model from there. Thanks!...
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Leasing Company -> PE / VCI'm currently being considered for a credit analyst at an equipment leasing company. The company provides LOCs up to $10MM , to companies in all different industries. They're begun to focus on start-up companies and decent amount of the portfolio is biotech and data center and cloud computing compan...
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minimum SAT score for PE recruiting? to avoid GMAT Hey all, What would be the minimum SAT score needed to not have to take the GMAT for PE recruiting? I've heard 2100+. Thanks! ...
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recruiting for NYC PE coming from Chicago IB? Hi everyone, Would appreciate your insights on the following... 1. I am at a top MM IB in Chicago. Tech group. However, I want to eventually switch over to NYC PE. Prestige is not super important to me - as long as I'm making competitive pay. How will this process work? I assume recruiting will ...
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PE Case Study - Model & Presentation with CIMI have an upcoming case study round where I will be given a CIM to build a model and prepare a few slides that I will have to present incl. Q&A. This will be my first full case study, so my question is how do you approach this most efficiently? I will have 2-3 hours for the whole exercise. How would...
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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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Finally secured VC interview, what do I study?I am very grateful to all the advice I received from this forum. I have now secured a final stage interview with the VC arm of a big pharma company. My focus will be on medtech and analytics, early to late investments. I need some advice on what I should be revising, need to make sure all bases ar...
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Undergrad GPA for megafund Hi guys, I am going to intern at a BB this summer and I hope to break in PE after IB. What is the average GPA for megafund PE associates? I am thinking about whether it is worth it to take more classes in my senior year to bump up my GPA or just chill for a year. ...
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Search Fund Internship? Thoughts/Experiences?I'm a freshman at a target school and am currently searching for summer internships in IB/Private equity. Recently, I have found some unpaid internships at search funds and am just wondering if any of you had experience with these? If so, is it worth it? Do you get to learn a lot of financial modeli...
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Recruiting timeline for megafund?Hey monkeys, With all the BBs starting off already, it seems like recruiting timelines shifted up again. Have any of you heard when megafunds (KKR, Blackstone, TPG, etc.) start recruiting for next summer SA?...
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