Silver BananaTopicReplies
+1
Bain Capital Interview

cthegr8

Tips on the Bain Capital interview? I know it's consulting style cases but what should I prepare for specifically?...

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Re - Lifestyle in Private Equity (lower mid to mid market space)

Dingdong08

Mod Note (Andy): This recent comment by 2015 member of the year @Dingdong08" from the thread "Long-term PE - Lifestyle" is so insightful (10 silver bananas) that I decided it deserves its own spot on the front page. Read on and enjoy monkeys: I can't speak specifically on mid to large funds but I'...

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short cut to LBO model

vanggoo

I found a post saying there is a shortcut to LBO model: 1)make assumptions on the net change in working capital rather than looking at each item on balance sheet 2) need some form of Income statement to track how the debt balance change 3) need some type of cash flow statement to see how much cash i...

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Reaching out to a firm that previously passed you on

nightowl777

Hi guys, current first year IB analyst here. I recently interviewed off-cycle with a really compelling ESG-oriented PE that had mostly hired associates in previous years of processes. I'm on a small team and was completely jammed with a deal when the modeling test came due. As a result, I had to tu...

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AIMCo Private Equity SA interview in Toronto

berkshirehathaway888

anybody been through AIMco's private equity SA interview process ? Mind sharing what they ask you and tips. Thanks!...

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+1
Pamplona Capital Management

Throwaway 123

Any info people can share on Pamplona? Have heard rumors that people are leaving the firm, risk of their single investor leaving, etc. Any information would be much appreciated!...

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What are the indicators of a good management team?

undergradhardo

Hi! I have been doing some networking with different PE firms, both big and small, and have always asked what their specific firm's evaluation of a target company consists of. Most of the time, I am told that management teams are the most important because they ultimately decide the vitality of the ...

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0
Golden Gate Capital culture and performance

veronica456

Hi all, Posting for a friend: What is the culture / work environment and career progression at Golden Gate Capital compared to other MM PE firms? How would you rank its performance (and reputation) relative to other top MM firms -- places like H&F, Advent, FFL, Berkshire, New Mountain Capital, etc?...

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Question Regarding Using Work Laptop for Case Studies

bsong92

Hello, I just had a quick question - Is it okay to use work laptop for case studies? I've heard HR or compliance may check in pretty regularly, but was wondering as long as it is not work related, (or contains client information), is it fine (mainly because my personal laptop is so slow) For examp...

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Energy / Oil & Gas Focused US-Based PE Firms (Reputation, Insights, Etc.)

r2d2_

With recruiting kicking off soon, I was looking for any up-to-date / anectodal insights into US-based energy (particularly oil & gas) focused private equity firms. I've done my research based on older topics on this board but wanted to see if anyone had more recent information given the downturn, an...

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+1
Crossover funds

SCZealot

I'm getting more and more interested in crossover funds - funds like Crosslink Capital that invest in both venture capital / growth stage companies as well as public markets. Does anyone have a solid of these firms? I know there are firms like Coatue and Tiger that do both, but aren't sure if the ...

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Macquarie Capital - Principal Investing

simon2318

Anyone have insight into this group? Particularly concerned with industry focus, recent transactions, culture, position within the larger org, etc. Thanks in advance!...

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+3
Add on acquisitions in LBO

sffinance321

how would one model out add-on acquisitions in an LBO? If you wanted to consolidate a local player in the 3rd or 4th year, how would that flow through the LBO correctly and how would I make that accretive to boost returns?...

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+9
Private Equity in Canada - Updated

TDot Hunk 22

I'm looking to gain more insight into the private equity space in Canada, particularly for Toronto. I understand that there are historical posts addressing Canadian PE, but any updated information would be helpful. Please share any information you find relevant, such as best funds in the space, life...

22
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Computer Program Skills as an Undergrad Student

badgerbadger

Hi everyone, I am an undergrad student looking to get into private equity after I graduate. Being an economics major I constantly hear of people getting familiar with Python, R, and Excel programs. I am doing workshops in Excel because I know that modelling is a major part of entry level jobs in PE...

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+2
LBO modeling for co-investment?

sffinance321

Does anyone in co-investment groups or private equity firms know or understand how the modeling for co-investments work? If so please let me know how this is modeled out and how different it is to traditional buyout LBO models!...

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0
Beyond the Big Names

richko

Other than the MF's like BX/KKR, etc, what are some of the most reputable (successful, respectable and well known etc) PE funds? Also what are the benefits of working at a MF? Other than the clout, is there a substantial difference in exits? I understand why people go for the brand names with bank...

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+1
Looking for advice | VC -> ?

SCZealot

Hello all - longtime lurker here. I've hit a crossroads in my career and I'm looking for some advice. I went to a target school on the east coast and worked at a MM IB firm focused on M&A. The firm was extremely well known for its vertical and placed well into PE/HFs in the same vertical. However...

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+112
Overview of Infrastructure Private Equity

Option Value

Hello 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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+1
IFC recruitment process

KingShuk

Good day, Does anyone know how long the IFC take to get back to you? It's been 3 months since I last heard from them. I did the case study/ modelling tests plus 4 interviews....

5
+1
Agriculture Focused Private Equity Models

WestCoastFarmer

We are a small Ag fund that syndicates capital and grows permanent crops on the west coast. We are in the process of rebuilding our underwriting/financial modeling and I was hoping for some suggestions on things that we should include in the model to give an institutional level output for our inves...

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+2
Net Working Capital assumptions?

sffinance321

I am building out an LBO from a CIM. If the CIM doesn't provide information on NWC, what is the best way to project this out for a conservative estimate? For now, I've kept D&A the same as capex (capex is provided in the CIM for projection years but they are quite aggressive)...

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PE Firms Reputation/Culture

Banking34075

Hi All, Just wanted to know if you guys had any thoughts about the following firms: Irving Place Capital Searchlight Capital Thanks! ...

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Post Removed by Owner

EconomicEquity

Post removed by owner. Post removed by owner. Post removed by owner. Post removed by owner. Post removed by owner. ...

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+2
Positioning yourself with headhunters for niche private equity roles

cthegr8

I'm applying for a niche space within PE. I currently have a headhunter repping me for a firm that does what I want, but she doesn't know about my longstanding passion/interest in the space. Should I call her cell and tell her, or shoot her an email with a few bullet points on why that's my dream jo...

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+1
Insight on Palamon Capital Partners

EBITDAD17

Hi everyone, Can anyone provide any info on Palamon Capital Partners? Anything would be greatly appreciated....

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+1
Trilantic Capital Partners US

Anthony Scaramucci

Hey All, Anyone have recent thoughts / experience working with Trilantic Capital Partners? Can anyone share thoughts on the reputation of the firm? I understand they are a MM / UMM fund with a good culture and a program for promoting internally. Thanks, The Mooch...

1
+1
Revenue Growth in LBO?

sffinance321

Management's projections of revenue for the forecast years seem way too high (although the company may just be doing well in that sector), but it seems like based on comparables, companies are tapering off YoY (vs. YoY increase management is projecting) to a single digit growth by year 5. Is there ...

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+2
Best LBO Template for Case Study?

dontbugme

I've seen a few templates floating around that can vary quite substantially and was wondering what templates you guys use in case studies where you have 45 mins - 1 hr to build out the entire model. Assuming for case studies it makes sense to use a 1 tab simplified model. Curious to see if there's a...

6
+1
Secondary PE

Prescott Moncrief lll

Looking at an Associate spot with a sub $1bn secondary firm. How does the analysis/diligence differ from growth equity (assume more execution than sourcing)? How well does the experience translate into other private buy-side positions, or moving into an operating roll, versus say an M&A Assoc spot w...

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+2
Entry multiple in LBO?

sffinance321

I'm running an LBO for a case study and the prompt was open ended so I made general operating assumptions to growth and margin, capex, NWC, etc. For the entry and exit multiples, I based it off of select precedent transactions over the last 5 years in the same sector as well as trading multiples fo...

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+2
1.5 Hour LBO Test

ap2A_8

Just had a modeling test and was given a CIM to build a 3-statement model in 1.5 hours. I tried my best to construct everything (i.e., debt schedule, operating model, etc.), but wasn't able to build out a clean BS and CFS. Was able to get all my assumptions and IRR/MOIC. Wish I had more time. Has ...

9
+1
any MF that doesn't kick out associates after two years?

littlenoone

I've done some research on LinkedIn and realized that most MF will kick you out after your 2 years as an associate. They want you to go to business school then either rehire you or you lateral/startup/HF/leave finance. I want to stay in PE in the long run but don't want to do business school. Is the...

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+4
anybody knows anything about PSP investments in Montreal ?

tomford1982

just got an interview from PSP investments in Montreal for their Direct Private Equity team. This is for an internship. Anybody here can share any info on the interview process / tips ? Thanks a lot! ...

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+2
Mezzanine Investing Straight out of Undergrad, exit opps?

shortvix

I am going into the mezzanine group of the investment arm of a large insurance company directly out of undergrad. The company does sub debt as well as equity co-invest. There is extensive modeling on the job to evaluate returns. I was wondering what would be my chances of getting into PE down the ro...

2
+1
Post MBA moves from public equities to private equities

CU04

Hi guys: I've learned a lot from this forum and would really appreciate your insights on the following - If a person works in public equities investing for 2 years post-mba (assuming it's a concentrated strategy with long holding period, and detailed due diligence), but want to work in private equi...

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0
GoBuyside Apt Test

Vector1990

Anyone taken the GoBuyside aptitude test? What's been your experience with it? ...

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+1
What debt tranche to use in an LBO?

sffinance321

If a case study doesn't give any specific directions as to the debt tranche and spread to use, what would be the best way to think that through and come up with a structure? I feel like because it is so open ended, there is room for them to ask why not i.e.) 2.0x senior debt and 1.0x subordinated de...

2
+2
Senior Associate or MBA?

peprimatetempaccount

So I've finished two years of BB IBD, followed by 2 years at a MM PE fund. I was originally planning on applying round 2 to b-school, but have recently considered making a lateral move to another fund, ideally with a promotion to senior associate and considering applying then. Would 6-7 years of wor...

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Deleted Delete Delete

Cabepusher-9999

Delete Delete Delete Delete Delete Delete Delete Delete Delete Delete Delete Delete Delete Delete Delete Delete...

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+1
PE Secondary Advisory Brokers

Bagge

Hey guys, posting this here again with the hope of finding someone in this forum who might know something. I am a recent graduate looking for an Analyst Position in M&A or Restructuring and came across an Analyst position in Secondary Advisory: I wondered if this will leave me with the same experi...

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+1
LBO Practice Company

redraidermustang

All - I've got an interview next week and was hoping someone had some recommendations on a relatively simple publicly-traded company I can build a practice LBO for? Just trying to get some reps in beforehand. ...

2
+1
Blackstone Real Estate Debt Strategies Group

ewhite1234a

Does anyone have any information on this group or interview insights? Have heard a lot about the other divisions and BREP but not so much BREDS. ...

2
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+4
Sweatshops and Pay

A.B.22

Hey everyone, I wanted to know which pe shops are considered to be sweat shops and why? I.E. I keep hearing that Apollo pays 400k but they’re the pinnacle of sweatshops and cause some to quit within the year. ...

7
+1
Are the following firms still open or finished: Bain, Golden Gate, Providence, Francisco, Permira, Advent, Eurazeo, Vista

cthegr8

............................................................................................... Thank you!...

3
+5
Please help me understand PE recruiting in the lower middle market.

nretni

How does PE recruiting work for the lower middle market funds? Is the timeline relatively similar to true MM (or bigger) PE funds? I am a first year analyst at a LMM sell side shop. I know my chances are slimmer than if I was at a true MM but we have solid deal flow and I expect to close at least 3 ...

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+1
Private Equity Analyst - Panic Mode

10xleveraged.sellout

I am worried that I made a decision around this time last year that will have permanent consequences on my career... First, I will start with a brief overview of my background. I came from a pretty small town in the mid-west, and was admitted to a Big 10 university. Originally planning on going int...

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+1
How much do HH’s make?

PE123456

Anyone have an idea of comp for headhunters at the top firms? Do they get paid on a commission basis?...

1
+1
Help: Asking MD for PE internship

PE123456

Hey guys, I met an MD at a well-known fund that’s been very busy about a year ago. We had a phone call which went very well and haven’t touched base since. I would like to do an off cycle internship at this fund, do you have any advice on how to make the ask? Doesn’t look like they have taken ...

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+3
Industry Studies for LMM Deals?

ShelbyCompanyLimited

Anyone know of legit firms who do industry studies for LMM deals ($10-50mm)? Friend of mine just moved to a new shop and is trying to find companies who produce quality work for smaller transactions. Places like LEK and such are out of their price range. Any and all recommendations would be a hug...

6
+1
Reneging on 2020 PE Offer

T2Monkey

Having spoken with a few headhunters in the past couple of days, I should have interviews coming up shortly for a few consultant friendly MM PE shops. Unfortunately, the fund I want to work for most will likely begin recruiting after the others have finished. How receptive, if at all, are PE shops t...

2
+1
PE interview expectations for this year?

cabbagecorpIPO

Will the ultra-accelerated PE recruiting process this year lower the expectations/difficulty of interviews? Do you still see prospective candidates having to complete full-fledged case studies and LBOs? ...

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Serent Capital - any info? Case interview? Even impressions appreciated (time sensitive)

cthegr8

Thank you so very much ..........................:........::......:.:::::..................,,,,,,,,,,...

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+2
Private Equity Case Study HELP!

sffinance321

I have a case study for a private equity fund coming up and they provided a CIM as reference but kept it very open ended. One caveat is that the CIM doesn't have any information on D&A and NWC. Also because it is open ended, the capital structure, libor spread, entry multiple are all up in the air. ...

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No experience? No problem

Kassad

We're famous guys and gals! Or at least @WallStreetOasis.com" is. Good luck to everyone doing PE recruiting this year, and congrats to those who have offers. [Quote]“It’s crazy,” said Patrick Curtis, who runs Wall Street Oasis, a financial careers website. “This timing definitely caught a ...

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Do headhunters reach out to MM IB firms?

cavdrunk

I know that EBs and BBs usually get most headhunters to reach out to them, but what about at MM IB firms? I'm sure that the Jeffries/HLHZ tier gets some headhunters as well, but what about when you go lower to a firm at Piper Jaffray's level?...

6
+4
How to better understand businesses and articulate investment ideas?

and0ne101

More of an open ended discussion, but how do you all try to better understand businesses when going through potential investments, ex. understanding how the operations work, the value proposition, and being able to articulate it to the investment committee. Anyone have any tricks of the trade or any...

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+1
What Entry Multiple to Use?

sffinance321

I am given a case study for a final round interview. They have handed me the CIM to create a presentation and it doesn't seem like a 3 statement model LBO is necessary/possible here as there isn't enough information (Net Revenue, Adj. EBITDA, CapEx, NWC, etc.). However, what entry multiple is a rea...

1
+1
Need Help! Interview for Summer Analyst Position with Private Debt/Credit

Bario Mros

Hey everyone. I'm currently a Junior at a top undergrad studying Economics. I'm interviewing for a Summer Analyst role at a Private Debt/Credit Arm of a large Fund (they also have private equity, cap markets, real estate, etc.) They deal with high-yield, non-investment grade. I'm at an undergrad wit...

3
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PE Hiring Craze: Fact or Fiction

Pershing ROI

https://www.wsj.com/articles/no-experience-no-problem-private-equity-lures-newbie-bankers-with-300-000-offers-1540998554?mod=e2li This WSJ article seems like a fish tale. Can anyone in the industry confirm or deny this!...

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E-waste recycling

max_1

I'm working with an exciting new European e-waste recycling business and would like to meet equity investors interested in this space. It would probably suit a millennial generated fund or a fund that is looking for clean credentials. The Company has a great team and a good forward supply of raw mat...

1
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Typical MM fund comp for T2 city

BobMerkin

Looking into MM PE opps - what would typical base/bonus be for a pre-MBA Associate role in a secondary city (Philadelphia/Boston/DC) at funds in the $500mm-$1bn AUM range? Have heard $100k is typical base but don’t have much intel past that....

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Constellation Software in Canada ?

targetmonekyhihih

Any one has info on constellation software in Canada? I'm interested in their M&A/Investment group. what's the exit opps, comps and most people I see on linkedin came from consulting lol. Do they give returns to summer interns ? Thanks. ...

2
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LBO Model for Co-Investment?

sffinance321

How different would an LBO model for a co-investment be? If a fund is only taking a minority investment, what different assumptions would play into the model? would there be less risk incorporated in with it given that another investor is in it with you? Please help!...

1
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Minority equity investment - three statement model

TarkL

How should I approach modelling a minority equity investment in the form of a three-statement model? Some thoughts below, but not sure if this is correct - Purchase price should just be current Equity value (EV - net debt) * % desired minority ownership - There should be no PF balance sheet / purc...

4
+1
Private Equity Networking Events

sffinance321

Has anyone been invited to and attended private equity networking events (believe some label it information sessions)? It goes on for a couple of hours and seems like a place where you get to meet mid-level and senior folks at the fund and network with them. This is for a growth equity shop. What ca...

1
+12
Do PE IR guys get paid on par with Investment team?

firstclassflyer

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

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+3
Blackstone Strategic Partners - thoughts?

Sav

"Strategic Partners provides a unique opportunity to achieve a valuable learning experience working in the secondary private equity industry. Strategic Partners manages funds with approximately $11.0 billion in committed capital and seeks capital appreciation through the purchase of limited partners...

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Going back home for Thanksgiving during on cycle PE recruiting - Bad Idea?

Quint101

Hi there, My girlfriend and I are both from the midwest but doing banking and consulting, respectively, in the west coast. We've both met with recruiters that told us the on cycle process began last year early December. Would it be unwise to go back to our cities for ~roughly 5 days near Thanksgivi...

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