Silver BananaTopicReplies
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Which PE funds have emerging / frontier market strategies? In the wake of Abraaj, and with other MFs having pulled emerging markets strategies in the past couple years (e.g., KKR's dissolution of its Africa fund), which funds still have EM / FM strategies or funds in place? What is you opinion of such strategies? Does anyone here have experience working for...
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LONDON: Blackstone Tactical Opportunities teamHi all, Could anyone give me some insights on Blackstone's tactical opportunities team in London? (recent deals, culture, working hours, asset class focus (an estimated % breakdown would be nice)). Their mandate seems to be pretty loose ... from what I understand they pretty much invest in any ass...
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What would it take to pull you out of PE and into ops?This applies primarily to LMM PE guys. What would it take for you to jump ship from where you're at now and join the operating side of things for a company with sub $10M in revenue in an executive role? Specifically looking to figure out a range for: -Base -Equity -Bonus structure -Any addition...
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Target monkey who graduated from non-target zoo. Landed an interview with Vista Equity Partners. What do I expect?Been fighting like hell to break into banking. Became deal sourcing ninja. Now have PE interview. What to do now? How to prep?...
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How hard is it to break into PE with a computer science degree? Hello, all. I'm going to Harvard this fall, and I've been debating whether to do Economics (because they don't have finance) or Computer Science rotary to get a job at Google. I figured a good option would be to take a computer science major with some economics classes, because it isn't unhe...
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Rialto Capital Management - Review - Real EstateExposure to all types of deal. All products types and mezz, preferred equity and equity investments. . Hours ...
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Growth Equity Technical QuestionsI will be interviewing for an associate position with a mid-sized growth equity firm in SF in a few weeks and am looking for some insight on how to prepare. I do not have banking/finance experience so am a little concerned about any technical questions (i.e. those that would require knowing formulas...
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Infra PE Analyst -> Traditional PE Associate?I'm in a bit of an atypical situation from your typical IB analyst -> PE associate recruiting, and was wondering how to go about PE recruitment. I'm currently a pre-MBA PE analyst at a major infrastructure-focused private equity fund in NYC. While I've enjoyed my experience, I'm starting to get mor...
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IB (BB) > PE Growth Equity > PE Mega > B School (worth it?)Posted this on the bschool forum, but thought getting some thoughts here would be good, as well. Started off at a BB (think GS, MS, UBS, CS, JPM) - 2 years ($70k base, $70k bonus) Moved to PE Growth Equity (think TCV, TPG Growth, Carlyle Growth, Bain Cap Ventures) - 2 years ($100k base, $100k bonus...
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Just landed a PE internship after being fired from a consulting firm for underperformance. How can I do well this time?Hey monkeys, Hope this post finds you well. I entered a mid-tier consulting firm out of undergrad where I did just about "ok", then jumped to a small strategy shop where I was let go after a year (give or take a few months) due to underperformance. I just landed a 4-6 week stint at a small PE sho...
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Lower MM PE shop intern interview prepHello, I am a sophomore at a non-target in a large city, I got an opportunity to interview as an intern for a lower end MM PE shop and I was wondering what I should be preparing for? I have no other work experience in finance so I've been self-studying online, applying for internships, and cold emai...
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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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covenant questionsSay you have a company with pretty high customer concentration, what are some typical covenants to mitigate the risk from a lender's perspective, besides the usual financial covenants?...
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Real Estate Private Equity Megafund Superday Hey all, I have a superday interview for a full-time analyst position at a real estate megafund (BX, KKR, Apollo, etc.) in a couple days. Interview takes place from 9am - 4pm, so I am anticipating some sort of modeling / waterfall excel test. I have seen in some other threads that for experienced ...
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White Oak Equity Partners - Interview - N/AHe asked me to list 3 strengths and 3 weaknesses. Since I elaborated on all of them quite a bit, my answer just felt extremely long. Really, this is not that difficult of a question, but I needed something to fill the box. I feel as though all of the questions he asked were very appropriate. Questi...
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IFC modeling test? Has anyone interviewed for IFC Inv. Analyst? Looking for some advice on 2nd and 3rd round, particularly the case study/modeling test on the 2nd round. I have no idea about the time limit and the type of analysis required. DCF? IRR? etc? Appreciate your feedback!...
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Harvey & Company - Interview - Investment BankingIf you owned a dress company, what other companies would you acquire and why? If you want to be in investment banking, then why are you here? We don't work with numbers. What is EBITDA? Talk about the three financial statements. How will your background be of any use in finance? Are you caught up i...
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WSO Private Equity Guide for Post-MBA RecruitingIs the WSO PE course helpful to MBA students recruiting into PE? If so why? Interested in purchasing but it does feel like the WSO guide may be excessive? If anyone has used it and can speak to the guide, I would very much appreciate your insights....
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Leonard Green and Partners - Interview - GeneralistWhy Los Angeles and not New York City, seeing as I was from the east coast and obviously much closer to new york. Other questions included the minimum stuff about leveraged buyouts, what other jobs I was considering, why I had a passion for private equity, and what I knew about the firm. I was also...
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Exiting PE: PE ---> Portfolio Company?Hey all, So I know most people here are looking to get into PE (godbless you all). I'm actually in a slightly different situation - I'm considering leaving my fund and going to one of our portfolio companies. I know the company well - I led the deal (diligence, documentation, structuring, etc), a...
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Can you go from industry group "X" in IB to an Industry "Y" PE firm?I'm talking about healthcare PE if that makes any difference. Do you have to be in a healthcare IB group to place into a HC-focused buyside firm? If you're in a decent non-HC industry group (Goldman TMT, C&R at BAML) can you tell headhunters that you're interested in a specific industry that's diffe...
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Warburg Pincus - Review - GeneralistWork on interesting processes with close mentorship from mid to high level professionals; great business school placement. Work on processes that will clearly not go through occasionally; hours can be a bit tough but only when for good reason...
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Ever feel like a victim of finance? How do we take mother f-ing control of this b-tch?I want to take control of my life back. I have been in IBD and PE. I feel that this career path is not so stable, and not nearly as lucrative as originally promised. Mind you, that's a "rich country" kind of a problem. But somehow I feel that any semblance of a stable / dependable career has evapora...
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Private Equity firms with ops groupsDoes anyone know how to find a comprehensive list of private equity firms that have an operations group? Or does anyone know of any besides Bain Cap, TPG, and Blackstone? ...
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MF Distressed PE/HF RecruitmentWhile everyone is obviously aware of the MF PE recruiting timeline, does the same go for groups that do distressed/special situations within these firms? What about distressed HFs? I'm referring to groups such as BX Tac Opps, Ares Spec Situations, KKR Special Situations, Oaktree, GSO Distressed, Apo...
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$125k - the New PE Standard?For anyone who missed the latest GoBuyside compensation report, it looks like the numbers are in: $125k is the current standard in base pay for 1st year pre-MBA associates for the middle market on up. This makes sense given that 1st year IB associates now make $125 base w/ ~$225+ of all-in comp. How...
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Temasek PE or AM?Hello, I have a networking session coming up on Temasek investment internship program. But, I am not confident either this is more of a market-driven equity investment position or M&A private equity position. Is there anyone who could clarify this? I thought it was more of a market position (equiti...
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Onex - Interview - Prime BrokerageWhy did prime percentage go down and so you think it will stay at the same value or will it go up or down. And questions about myself and how much i want to get paid and my past experiences in fiance. Other questions I have read include short answers about morgage and if the stock for a particular c...
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Special Sits PE Case Study ExampleThe webinar for this case is TODAY, July 6th, at 5:00pm EDT. If you miss it, it will be replayed for free on the homepage on August 6th Even though recruiting season is not necessarily around the corner, I thought I'd share the below with the community. If anyone has a case study/modelling test com...
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Financial models and its real importance...Hi everyone, I've been enjoying the discussions on this forum for the past 3 months and felt it was time to bring up some topic that i guess everyone in finance has wonder at least once in their career. I'm a senior associate at one of LATAM's largest alternative asset manager. I'm relatively youn...
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Family Office Private EquityWanted to get the community thoughts about family office PE firms in general and my situation. A little background - this is for a junior level position, I am currently working in the credit arm of a large PE firm (think Sankaty of Bain, Thoma Bravo's credit arm, Whitehorse Capital of HIG, etc.) on...
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Healthcare Rollup StrategyHi All, I recently left my PE gig to try something more entrepreneurial. I built a thesis around rolling up certain assets in the healthcare industry that trade at low multiples (3-5x) which can be leveraged easily and can trade at up 10x once they generate large enough cashflows. I managed to ra...
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Does anyone have a 3 statement model with advance rate assumptions from a debt provider?We are working with debt lenders, and need to see if we can sustain 70 or 80% advance rates from our lenders (which would require 20-30% cash used by us. I am in the specialty finance industry, and cash is our inventory, so we need to make sure these advance rates are sustainable....
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KKR (Kohlberg Kravis Roberts) - Review - Technology, Media and Telecom (TMT)Great, high impact deal exposure, smart people, good corporate benefits and perks. Overall, a very entrepreneurial environment. Lack of visibility or upward mobility if you aren't in the "in" crowd with upper management. Lots of "tape"...
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Private Equity vs. Trading internship (undergrad)Hey everyone, Let me give a quick background of myself: I am Sophomore at a non-target majoring in engineering. I am trying to decide if PE or trading will give me better opportunities for the following summer/post-college. I have some offers on the table in trading (think Akuna, Optiver etc.) an...
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CPP Relationship Investing?Hi everyone! I was looking at a potential job with CPP in their relationship investing team. Does anyone know about their Culture/hours/reputation? Thanks!...
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Should I take a job with Apollo?I am a petroleum engineer, been working at major O&G firm for the past 6 years as a reservoir engineer in A&D. I’m also in business school for MBA. I got a job offer with Apollo mgmt in Houston as an engineer to help manage a small portfolio of oil companies. I have no clue about Wall Street or th...
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Praltrix Man Enhancement Reviews: Ingredients, Benefits & Side EffectsPraltrix Man Enhancement Pill- For the affluent as well as sound conjugal life there has to be a respectable sex-related coexistence for both the partners, it will likewise supportive for the terrific pshychological life. There countless supplements that will assure you the great sexual life nonethe...
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TPG Capital - Interview - N/AThe interviewers provided about 2 hours to build an LBO from scratch and then to discuss the investment thesis with an associate. The discussion centered around why certain assumptions were chosen, why mistakes were made, and overall risks and benefits of the investment. There were other questions r...
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Blackstone PE Summer Analyst 1st round video interviewHi all, I have a first round video interview with a member on the Blackstone PE team (NY) in the coming few weeks, for their summer internship position. It will last about 30 minutes, and in the email, they said that they will be looking to "learn more about my background and discuss the role in fu...
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Buyside Debt -> MBA -> PE?Hi there, Used to work for a small buyside debt fund. Now at a top 15 MBA program. Repeat consensus is that post-MBA -> PE is extremely tough. Does screening syndicated deals showcase enough complimentary skills to make a case for PE? Is jumping into an alternative investment group at a PE shop the...
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BDT Capital Partners Update?Does anyone have any updated information on BDT Capital Partners? I understand all the general information in their reputation as a "true merchant bank" where investment professionals are on both the advisory / investing side of the business, but would love to learn any more nuances of the shop (cul...
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Do I have a chance to start off as a junior (associate/entry level) position in a PE Firm?I graduated 2 years ago. I majored in accounting. I worked for 5 months in a major bonding company as an underwriter's assistant, officially called financial analyst. It was very technical and I really just made risk reports and analyzed financial statements for seniors.. then I worked for a year...
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Sponsor Finance Commercial Banking to Private Equity - Is this doable?Hi everyone. First time posting here. Would be curious to get people's thoughts on the likelihood of being able to transition from a Sponsor Finance/Leveraged Finance group of a Bank's Commercial Banking arm to a Private Equity firm? For someone with 2 to 3 years exp in underwriting senior debt for...
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Paying for carry at fundJust joined a secondaries fund and was given the option to subscribe for carried interest at the fund. However, I would need to finance this myself. Was wondering if: (a) Do you all pay for the carry at your fund? Wanted to see if this was market practice. (b) If not, do you invest the maximum that...
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Credit Fund to PE: Is it DoableSay post-banking you find yourself in a ~5 BN credit fund that invests mostly in senior / mezz debt. How common or doable would it be to shift to a PE fund after a few years? I'd imagine the skill sets largely overlap (modeling / diligence, investment memos & committees). Clearly the credit investor...
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Best Time to Send Cold E-mails?This is really dumb but I've got a batch of cold e-mails ready to fire off to some Associates and VPs on the buy-side - with the holiday this weekend is everyone likely to be on vacation this week or next? I imagine next week and I imagine this week should be pretty light, but someone please contrad...
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Books/primers on evaluating NPLHi guys, are there any books/ primers on how to evaluate non performing loans please? Thanks for the recommendation!...
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PE IR vs. Placement agentI recently got one offer from a global top-tier PE firm for a junior role in the Investor Relations team (dealing with PE/HF/RE) and one from a global top-tier placement agent with focus on fundraising (100% sales for PE funds). Unsure which one to pick here, as the global PE firm is indeed a great ...
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How do you gain insight into a PE firm's culture/lifestyle in the interview process?Going through interviews in MM PE right now and am wondering if there are good questions to ask or red flags through the interview process? Obviously don't want to come off as a slacker, but also don't want to jump blindly into a firm with toxic culture and soul-crushing lifestyle. I have heard ther...
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EQT Partners - Interview - N/AThe most unexpected and difficult question to me was "Which of the portfolio companies would you not have bought if you had been the decision maker at the time and what are the reasons for this? Furthermore, which companies would you have recommended to buy instead?" An in-depth understanding of not...
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Private Equity Associate: 15 Things I Wish I KnewTo mirror what I found to be one of the most helpful discussions on this site for IB analysts, what are some things you wish you knew before showing up Day 1 as a PE associate fresh out of IB?...
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Blackstone Group - Interview - Private EquityThe interview was fair. The only technical question I had was to compare the Cap rate of a hotel and a residential building. As I had no real estate background, the interviewer told me directly to consider the Cap rate as the inverse of a multiple. The rest of the questions were quite straightforwar...
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PE Recruiting for Non-Ivy League CandidatesHi Everyone, I'm a first year analyst at a BB (JPM, BAML, Citi) in a dedicated M&A group and I am trying to decide whether or not to pursue private equity. However, I have heard that school brand really matters in that process. I am attempting to determine if it is worth it for me to pursue that...
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Warburg Pincus - Review - Financial Institutions Group (FIG)good career trajectory, live deal experience, good team and culture, pay is not bad, working environment friendly. long working hours, very demanding boss, internal competition with other team, relationship driven bsiness...
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supplementforuse.com/praltrix-male-enhancement-za/Praltrix Male Enhancement This can even assist to extend the division of your sexual activities that means you may live longer at the bed for the maximum rounds. ...
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Advice for getting a full-time PE offer after the internshipHey guys, I'm set to start a PE internship in a few weeks (will be splitting time between the deal team and the portfolio management team), and would like your advice on how to seal a full-time offer afterwards. Would also appreciate any tips on how to prepare for the internship (what sort of materi...
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Novacap - Interview - Private EquityTechnical questions: * Difference between ROA and ROE? Which one is higher and why? * Why 2 similar companies could have different multiples? Fit/Behavioural questions: * Tell me about yourself. * Could you please describe your experience and what was your impact? * What do you know abo...
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Skipping recruiting as a first year analyst Are there any disadvantages to doing this? Especially with how much recruiting has been pushed up, I feel from a deal experience/ramping up to my current job, I would be way better off waiting a year. Am I thinking about this wrong?...
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NAT Gas phys Trader to BD roleHey all, Looking for some advice. I am under 30 and have been trading phys nat gas for 3 years for a top 5 trading shop.(I got lucky) I’m the youngest on the floor by a good bit but recently had a completely different opportunity arise on the BD side of a PE backed midstream company. Trying t...
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Forensic accountantHey, has anyone in their job as investor used a forensic accountant and recommend him/her/them? Basically someone who is used to screen financial reports for red flags. Thanks ...
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TMT M&A Graduate Intern in a recognized boutique vs. Analyst Intern in a well-known PE FundHello everyone! I have been given the opportunity to join either Arma Partners, a fast-growing London-based TMT boutique as a Graduate Analyst for 6 months or TowerBrook (PE) for 6 months as an Analyst Intern. I am much more interested in starting my career in a PE fund and I wanted to know what w...
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How Do I Approach MF Full-Time Analyst Recruiting?Hey guys, I am a a currently a rising junior at a mid-level target and have accepted a Summer 2019 SA offer from a top IB(MS, GS, EVR). I know I'm a bit ahead of the timeline here, but I would like to start my full-time career in PE, and I understand that there are a number of MFs with analyst prog...
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Sycamore PartnersAny thoughts? They spun off from Golden Gate and raised a fund pretty quickly with a couple of fairly large deals. Seem legit?...
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Founding a startupI work for a middle-market private equity fund and dream of starting my own business. I have been talking to friends with similar aspirations. Anyone have any ideas / similar aspirations? ...
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Do you consider your Private Equity job intellectually stimulating?I have heard on some threads here and in general that PE jobs can get stale and boring, of course every job has its shit days but the nature of PE is long term concentrated investing. Do you consider your job in PE interesting and intellectually stimulating?...
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I am older than my bosses and I'm embarrassed! I joined a new PE firm as a VP - I am older than one partner by 1 year! I am the same age (35) as another other partner! The other VP is a year ahead of me career-wise but 3 years younger than me! To be clear they deserve to be where they are and I (probably) deserve to be where I am, but I find mys...
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Millionaire by 30Hey there wolves. I recently set a goal for myself to be have a million dollars sitting in my savings account before mid-age crisis blows me across the face like a metal baseball bat. If there's any of you young bucks out there on the street with a similar goal. Matter of fact, if you're a veteran r...
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Transitioning from early stage VC to Growth EquityHi all, First time posting here.. Curious if anyone has any insight into the feasibility of transitioning from early stage VC (seed, series A) to growth equity without banking experience. I suspect it's somewhat doable after getting a top-tier MBA (Stanford, HBS, Wharton) but rather difficult witho...
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How do private equity companies do rule of law analysis in countries they invest in ? Everyone knows it's safe to invest in Singapore, Australia, Norway, the UK. But how do PE companies screen out - say investments in Mongolia or Nepal or some unheard and shady places ? Rule of law screening - how is it done ?...
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Morgan Stanley - Review - Investment ManagementLifestyle isn't terrible and work can be interesting if you're staffed on the right deals. Can get good visibility from senior management.. A lot of ex bankers who knew nothing but banking. Also, Corp Dev is essentially a back office function at a big tech company....
Bain Capital - Interview - GeneralistThey will ask you high-level and then drill down into exact details. Aka where does the revenue come from? What is the bottoms-up build of that revenue? What do you think the drivers are? Same thing on the cost side. Then they will ask you - based on how you built this build, would a 10% increase in...
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PE Resume Formatting Advice NeededI am beginning work at a MBB consulting firm in the next couple of weeks and headhunters have begun to reach out to me about buyside opportunities. They are asking for my resume and I’m unsure how to format my most recent experience/current job, as I still haven’t started work. How should I sign...
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Bain Capital - Review - GeneralistGreat company with excellent facilities and above average benefits. Most people are dedicated and helpful and you'll learn a lot by working on challenging projects. . Beware of joining IT Development. Initial salary and benefits offered would seem much better than any other employer... but take cau...
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Bain Capital Credit?Hey guys, so I have an interview coming up with Bain Capital Credit (formerly known as Sankaty Advisors) in Boston. Would anyone be able to shed some light on their investment model? From what I found (on their website) they invest in "senior secured, floating-rate debt through long-only, open-ended...
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Constellation Software ? ...............................................................................................................................................................................................................................................................................................................
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So I just became a Big 4 Manager in the San Francisco area, specializing in Private Equity/Venture Capital (Financial Services)So most of my clients will be some of the largest tech companies and financial services firms in the area (aka country). Are you jealous? Guess my salary....
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Cascadia Capital LLC - Interview - GeneralistThe interview did not consist of a lot of techinca questions. They knew I did not go to a business target school so they were not as focused on the techincal side, They were asking more about why I want to be in the industry, what the life is like at college, what my prior expereince was. I wasn't ...
General Electric - Review - Venture CapitalPeople are so helpful and willing to teach Dynamic Extremely intelligent individuals Investing in amazing tech companies. People are boring Not competitive Very corporate Company is so large Strategic investing was limiting...
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KKR vs Carlyle vs Warburg - URGENTI have offers from the three firms above in their respective traditional PE/buyout groups and have to decide by tomorrow due to a pending deadline at one of them. Locations are actually all different for the three but it's not a factor because I am willing to relocate to any of the three locations ...
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Thinking like an Investor: The key financial metricsI've quite often come across the phrase "thinking like an investor" in books and here on WSO, "not thinking like an investor" seems to be a fairly recurrent reason cited for getting dinged in a PE interviews. It's quite natural, since it is not something that one can pick up from a banking stint. Th...
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Ask me anything: Ex Banking Analyst in China + Incoming PE AnalystHi All, been on the site for a while and previously contributed a bit on investment banking in China. After 2 years at my previous bank, I am moving to a top middle market Asia focused PE fund (China team) in the next few weeks. I have experience working on cross-border M&A, both onshore and offshor...
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