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+37
Reading List for Intellectual Killers

Elite_Bulge

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

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Private Equity Resume Template - Official WSO CV Example

WallStreetOasis.com

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

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+21
Developing the "It Factor" as You Progress in Career - What Puts High Performers on Another Level?

Pro Forma

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

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+3
PE Business Development Role

buckeye92

I am currently interviewing for a business development role at a MM PE shop 1-2B AUM. the role is on a smaller BD team sourcing deals. My goal is to go back to school for top MBA in a couple years. This seems like an interesting role where I could generate great contacts, but have a few questions. ...

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+1
Which laptops do megafunds issue?

mushy

Hi all, kind of a silly topic but which laptops do MF give to its employees? Background: GS/MS/JPM IBD Analyst to Associate (didn't do the 2+2 but stuck with my firm as I wanted to finish a specific project) Joining: KKR/BX/Carlyle/Apollo/TPG My current firm issues Dell laptops which I rarely us...

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+1
"Carry dollars at work" relation to annual carry distributions

latetothegame

How do "carry dollars at work" translate to actual annual carry distributions? Heidrick & Struggles 2018 survey mentions that they calculate "carry dollars at work" based on stated assumptions and expected returns, then they provide percentiles and mean figures for carry broken down by AUM for "all ...

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+2
Cannabis Valuation

Endofanera

Sending a feeler out to the WSO community to see if anyone has experience across Cannabis valuations in today's market. Did a quick search but appears most threads are 5+ years old and the industry is completely different now and changing rapidly. Would be great to hear from other monkeys involved i...

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The rise of business development roles in the industry

Tonixity

Hello, Just trying to pick up your brain because I'm going to interview with another small cap private equity firm for a business development role. I was wondering what internal/exit opportunities are to be expected. Is there room for qualitative strategy work in that role or its the Associate/VP t...

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Crescent Capital Model / Case Study

Boston Banker 4190

Hi All, I have second rounds with Crescent Capital on Monday. It's going to be a 3 hour model / memo test. Has anyone gone through this? What can I expect. I hear I would have to model warrants. I'm not quite sure how to approach that. Any help with be much appreciated. Thanks! ...

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+1
Private Debt vs High Yield Credit Fund for PE Transition

BobbyDoucher

Alright, so I know neither of the above is ideal, or likely... but given the choice between the two, which would better position you for attempting to move into private equity without an IB background? I went straight into a hedge fund out of school and have been there for just over a year now. We ...

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+4
How to break into PE Portfolio Operations from Consulting?

jlr214

Hi All, I am currently a Manager in Management Consulting at a Big 4 focusing on intelligent automation and technology but have experience in strategy roles. I have deep experience in life sciences and would like to learn more about how to break into a PE Portfolio Ops role(think KKR Capstone). Cur...

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+3
Associate Resume

curious_monkey

I've seen lots of examples of bankings resumes as people try to break into PE but does anyone have an example or tips of how to put PE associate experience on a resume for lateral/sr. associate recruiting opportunities?...

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+1
Tech PE Interview

harvestmoon

Hi folks! I was invited for an interview for an Associate position with a PE firm focused on growth capital investments in tech (70% software, 30% hardware) companies in northern europe. I am no expert in the tech space esp in europe but have had some exposure to fintech in emerging markets. Any...

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+4
Why are PE funds, who are usually quite pragmatic/opportunistic about investing and businesses, so rigid in their recruiting?

angrybanana

This whole idea that you have to have done pre-MBA banking to get into PE or that you have to have done XYZ etc... just sounds so rigid to me when you're in the business of identifying imperfect companies (but where you see opportunity) and making money off of buying and improving them. Hedge funds...

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+1
Best Books / Guides on Deal Structuring for Private Placements

Cdeag

Hi all - I am looking to expand my knowledge on legal documentation structuring and would appreciate suggestions on books / guides that get in depth on the different sections / highlight the important points of the the different legal documents for equity (shareholders and subscription agreements, e...

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+1
CPP Investment Board case study

TomLondon

I’m interviewing for an analyst position in the infrastructure team of the CPP Investment board and am due to do a case study next week. Does anyone have any advice/has anyone done one before? Also, does anyone have any idea about compensation there?...

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Confused on Credit Suisse Direct Equity Partners, Piper Jaffray Merchant Banking/Private Equity, PE at I-Banks in general

excelmodelsXbeerbottles

Hey does anyone know anything about the DEP group at Credit Suisse or the merchant banking group at Piper Jaffray as it relates to pay, culture, exit opps as an analyst? are these groups similar to Goldman's PFI group? How are private equity funds at investment banks viewed in general? It seems like...

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+2
Equis

Kh3ats

Hi, Is anyone here familiar with Equis? Curious about their culture, comp & work intensity. Reading conflicting reports. Appreciate any insights on this name Thank you! ...

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+5
Breaking into Private Equity in London

rawdoge

Hi Guys, I am looking to do my MBA in the fall of 2019. My top choice by far is London Business School (then Booth and Tuck). To me, all of the schools are good enough, but being in London gives me that life experience that I probably wouldn't be able to find in Chicago or New Hampshire. I was wond...

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+1
Becoming a FINRA member firm

wsoNYC_1

Does anyone here have experience attending a FINRA interview to become a member firm? What is needed? Thanks!...

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+4
How is TA Associates and CVC - London

Anonymous Monkey

Can anyone comment on the below for TA Associates and CVC: - Lifestyle / Culture - Type of fund (TA more like a VC fund?) - Sourcing Model - is TA really mostly cold calling CEOs? - Comp - Brand name / prestige (not so much important but would still like to hear your thoughts) Couldn't find mu...

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Early-Mid 20's, ECM, CAD, Passed CFA Level 1 - Is it worth finishing my CFA to help get into PE?

AspiringPEVC

Hey All, First of all, apologies for posting in this forum again but I have a somewhat more defined question to ask. I've done my research and have seen all the posts saying that the CFA is more geared towards the public landscape as opposed to anything dealing with private markets. However, I've a...

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How do I make partner in VC without starting an 10 figure company?

Nickh

I am very interested in the venture capital field and I have talked to a few partners at big firms like Sequoia, Khosla ventures, and Lightspeed partners. All the partners that I met were C suite executives of a startup that reached a billion dollar valuation; that the VC funded. And they got picked...

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+1
Integrated forestry business valuation

Mansa_Moussa

Guys, How would you approach valuing an integrated forestry business? The business has got timberland as well as a number of saw mills. I'm thinking of using a "hybrid" approach, valuing the timberland using a version of DCF and the saw mill operations using market multiples. Problem is, getting c...

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+3
Blackstone Tac Opps

throwawayaccount1098248

Anyone know more about Blackstone’s Tac Opps? I know it’s not Corporate PE exactly but how does one recruit/what kind of candidates get interviewed/get offers. Also if it’s not traditional corporate PE is it comparable to UMM or Mm?...

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Evaluating Strategic Routes to MM PE

burner69

*deleted...............................................m.................................. ..mm....... ...

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Goldman Sachs Private Equity Group (AIMS) Interview

Jacob-Costello

Hello, Does anyone have insight on the interview process for lateral analyst hires? Case study/model? Anything is helpful...

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Lateral to the TOP IB GROUP(NY) or PE arm of BB, best path to Mega Fund?

camelcrush

Hello WSO community- I work at a very reputable tech IB shop on West Coast (think MS menlo, CS tech, Qatalyst , BAML sponsors, JPM SF). I went through on-cycle this year but couldnt get any MF in NY interviews (maybe because I was in WC). My goal is to eventually work at a MF in NY. I have two of...

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Differences between traditional MFs (KKR, BX etc.) vs large operational funds (BainCap, H&F, Advent etc.)

PEPlaceholder

Hi guys, I am trying to better understand the practical differences between working at one of the traditional MFs favoring people with finance backgrounds (KKR, Blackstone, Apollo, Carlyle etc.) versus the large but more operationally focused firms which also take consultants (BainCap, H&F, Advent ...

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+1
JC2 Ventures - Does anyone have experience / information on them?

FinancelsWacc

Hey Monkeys, Wondering if anyone has worked with / interviewed for JC2 ventures, John Chamber's VC / PE company that seems to focus primarily on a niche tech sector focused on the IoT and Disruptive tech in emerging markets. What "rank" would this have in the PE and VC space (I don't give a shit a...

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+1
Oaktree Summer 2019 Infrastructure Investing Internship

LeveragedBlackouts

Oaktree recently posted a job opening on LinkedIn for 1-2 Summer 2019 internship spots on the Infrastructure Investing team. Job description stated it was targeting individuals graduating in 2020/2021. I'm assuming this is more geared towards sophomores and was wondering if anyone had any knowledge ...

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+1
Looking for a Leasing Model Template

JordanCompounder45

Hi Fellow Monkeys, I'm trying to analyze a company that leases equipment and was wondering if anyone has a leasing model template that I can use as a starting point. Thanks, MJ45...

1
+18
Romance my way into PE?

Armhoo1

When we talk about hustle, usually that means extreme networking or something. In my case, I recently met a second year associate at mega fund in NYC. I know she's single, and was the first to text me about something random. Quite frankly, the topic of conversation sounded more like an excuse to ini...

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Post MBA IB Associate -->> PE?

dipndunk

Is this a possible track? Thinking about doing an MBA to get to banking to get to PE. Is this a waste of time?...

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+1
How to Join Webinar...

lebron-fan

I just purchased the PE resume webinar that starts in 15 minutes. How do I join it now...................

1
+1
Family Office Analysts

Thales777

Interested in discussing experience of junior analysts in family offices. I am starting 3rd year as analyst for single family office, working directly with principals. No banking or institutional experience, legal background. No industry or asset class focus. Anyone else in a similar role / position...

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What are the PE funds that genuinely care about operating experience?

angrybanana

And by that I don't mean consulting or the like. I mean somebody who has actually worked inside a company alongside the exec team, led projects, raised capital for the business, etc. I have a mix of both M&A experience early in my career and operating experience thereafter but the path into PE see...

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+1
[Help] Aspiring PE/VC analyst/associate - coming from an ECM background

AspiringPEVC

Hey All, Hope everyone is having a great day. Without making my story too long, I'm someone who's worked in an ECM role for the past year and am looking to make a change at some point in the not-too-distant future. I've been passionate about the PE/VC space for years now and I'm more than willing to...

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+3
Go Buyside - Worth the Upgrade?

FinanceWannaBe44

I’ve been on Go Buyside for about a month now and spoken to one recruiter and applied to maybe 20 jobs. I get a fair amount of notifications that “an investment manager has downloaded your resume.” The only way to see which firm is to upgrade. Has anyone upgraded? Is it worth it? ...

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Good book on private debt terms and structuring?

CU04

Hi guys: Looking for recommendations on good books on private debt terms and structuring , thank you in advance!...

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+1
Bain Capital Credit / Sankaty

CashFlowz

Hey guys. Quick Q. I know years ago Amity repped Sankaty, but is that still the case? Or did they jump with Ratio? Or to someone new?...

1
+2
Is growth equity a subset of PE?

jhemming2020

Hoping to get into buyout PE down the road and was updating my LinkedIn. One of my internships was at a multi-billion firm that primarily does growth equity but also has done the occasional LBO when it fits their investment mandate. Is it technically incorrect/poorly perceived to describe this as "p...

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GS Analysts Fired For PE Recruiting

rossi99

As we all know a first year analyst has to make a decision around this time of the year: a) take part in PE/HF recruiting for a job that would start after his/her two year commitment, or b) be a good monkey and stay out of the recruiting process because his/her firm prohibits it / it is a conflict o...

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+1
Distressed Debt Analysis by Stephen Moyer

m87

Does anyone have a PDF copy of 'Distressed Debt Analysis' by Stephen Moyer? If so, would you mind sharing a copy with me? ...

4
+1
Distressed Investing to Growth Equity

bananabanker978

Is it possible to make this transition? I’ve seen distressed investors move over to the credit arms of some GE firms like Summit but is it possible to move over to the growth fund from distressed PE/HF or are they just too unrelated? Thanks....

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+1
KKR Real Estate Credit Team

tim.67879.tim

Hi all, I have a first round interview coming up with KKR's Real Estate Credit team and I was hoping someone here could shed some light on what to expect/how I should prepare. Any help is appreciated! Thanks, Tim...

4
+1
Leading Chinese funds

unigenitus

Not sure how much WSO knows about China, but here is a question: what is the landscape for VCs in the new economy / tech sector beneath the first layer of obvious ones? I would typically see firms like IDG and Hillhouse in the top tier, with maybe foreign companies like Sequoia too. Beneath this th...

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+1
Need Help Writing a Business Plan

Skinnayyy

So a venture has moved on to the next step and we are now at the stage where I have write a business plan. The problem, I've never written one. Is there any good websites out there that provide good information on how to write a good business plan? I've seen a lot online, and sample business pla...

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Asia IBD to Asia PE - Good idea or not?

Tobuysideornot

Fellow monkeys, Just would like to seek a second opinion from some of the more experienced monkeys in the forum given that this is more from an Asia context... Currently an associate at a BB and recently received an offer to join one of the PE MFs. On a total comp basis, the PE MF pays 50-80% mo...

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+4
Private Equity vs Megafund Credit

ironbanker06

Hi all, I've been looking for a thread on this topic and haven't seen one. I'm currently an analyst at a boutique, energy-focused IB , and am considering a move to either a megafund's credit team (think Ares, GSO, Carlyle) or an energy-specific private equity fund (think Quantum, NGP). I was curi...

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+5
Making the most out of conferences (professional and student)

CHECK6

All, Attending a student PE conference in the coming months and was wondering from a professional's point of view what should students be doing to make the most out of these? Usually, at student conferences I see professionals swarmed by sweaty students thirsty for attention, who only brag about th...

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A student lied about graduation date to OTPP Infra and received an offer (be vocal/not be vocal)

Hfersrgreat

Hi all, So I heard of a Canadian masters student lying to one of the biggest pension plan regarding her graduation date to attain a winter internship offer starting in 2018. I'm wondering if OTPP should be aware of this? Because OTPP specifically indicated that the candidate is only eligible if him...

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+1
Rx Consulting to PE

fitzmagic

Has anyone made the jump or know someone who made the jump from a top Rx Consulting firm (think A&M, Alix Partners, etc.) to PE? If so how were the barriers to entry ? What are the skills that are transferable and what are the skills that a Rx Consultant might be missing ?...

1
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European regional office at top BB (GS/MS) vs MBB for London PE exits?

Baguette MIA

Hi guys, I am debating between offers a top BB (GS/MS) at a regional European office (think Frankfurt/Paris) vs MBB (McK/Bain) at another smaller city. I am aiming for a PE exit in London at preferably one of the upper middle market funds (e.g. Bain Cap, Advent, EQT, H&F), but would not mind going ...

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+5
Thoughts on Permira?

jo1421

There doesn't seem to be much info on Permira here. Any thoughts on culture, deal flow, senior members, reputation, comp for the American office (either NY or Menlo)? I know they have a strong presence in Europe and have done some interesting deals there, but am curious about what people have heard ...

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+1
Torquest

yyyyy12371717

Interested in PE in Canada and came across Torquest. Currently not a lot of information them. Any thoughts?...

4
+1
InvestIndustrial

Trinidad

Does anyone have info on InvestIndustrial or has gone through their process? Heard they do a 6-7 hour modeling test? Would love any insight on them...

4
+40
Tricks of the Trade

babymonkey357

Just 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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Vista Equity Partners - Insights on this firm?

humble_dude

I am wondering if anyone can provide some insights on this firm. I am graduating and have an interview with them for an analyst role. Nothing came out in my search process on the forum so any advice and information would be appreciated. Thanks guys!...

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AMA - Analyst at Top PE Fund (TPG, KKR, BX, OAK, Carlyle, APO)

thewallstreeter200

Hi everyone! Long term user, but new account here to preserve my anonymity. My background: I'm currently a private equity analyst at one of the funds in the topic title. As some of our processes are slowing down, I wanted to check back into the forum and give back to the community. I still remembe...

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Oaktree 2019 Future Leaders Program

reperella

I am a junior in college and I just found out that I was accepted to the Oaktree Future Leaders program. I will be attending the training session in person in the NYC office. Is anyone else planning on going/have any idea what this program is? I applied on a whim and don't have many friends in fin...

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LBO: Optional Debt Repayment

junioranalyst01

I have a few questions on optional debt repayment in an LBO (i.e. you’ve made your mandatory debt repayments and have excess cash to prepay some of the principal on outstanding debt). All of the LBO materials I’ve reviewed say that in this instance, you should repay your revolver first, followed...

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+1
Interview question - how do you price a middle market loan?

you_get_the_dream

A friend of mine got an interview question - how do you price a middle market loan? What's the spread and pricing? What do you think it will trade at? I am wondering how to answer this question. Can someone in the field give an example please?...

1
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Sub $100 VC / Growth Equity Research

wso5305

Hi all, ISO of data or a research report on hurdle rates for micro-cap VC / PE funds within the US. Would love any recommendations or links. Felt like I've looked everywhere online and can't seem to get any good info without having to pay for it. ...

1
+10
Independent/fundless sponsor and Family Office surge

Little Sheep

What is the wise WSO community's thoughts on the rise of independent/fundless sponsors as well as uptick in Family Offices? Will this play out long term and fair well against a downturn vs traditional funds?...

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+1
The Sterling Group Houston

BankingAnalyst101

Anyone have insight into Sterling Group in Houston? Had a HH ping me about an opportunity with them but having a tough time finding any information on them. Surprising considering they were founded in the 80s. Much appreciated!...

1
+14
Moelis NY placements for this cycle (HF and PE)?

ProspectiveMonkey12345678

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

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Best Family Offices?

jimpix

Hi, Can anyone provide some color on some of the well regarded private equity family offices? I'm mostly interested in those that focus on PE/Growth/VC and not public equities, and those that hire post-banking associates. Thanks!...

1
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Undergraduate to PE in India

stitchfix01

I am currently an undergraduate student (final year) at a top **law** school in India. While I do understand that law is not one of the conventional routes to any finance jobs (at least in India), I wrote CFA L1 to show my interest in finance. I also have the experience of interning with a BB as a s...

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Insight into Private Funds Group

chirmurri

Can anyone provide more insight into the Private Funds Group at the likes of UBS/CS etc? Understand it is mainly in a fund raising capacity, though CS seems to have now set up a direct investments arm within their PFG. How should one prepare for a PFG interview? What kind of technicals can be aske...

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