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+26
AMA- Undergrad to PE (Ask me anything)

JDS07

Hi everyone! I’ve really enjoyed the community here at <abbr title="Wall Street Oasis">WSO</abbr> and the fantastic insights and advice people have shared over the years, so thought I’d give back and share my non-traditional experience. <h4>My...

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+19
AMA: Fundraising for Private Equity, Cap Intro & Investor Relations Career Paths

earthwalker7

Guys, Below is an AMA podcast + some key takeaways on fundraising for <abbr title="private equity">PE</abbr> and <abbr title="hedge funds">HFs</abbr>. I was in-house IR at a couple <abbr title="private equity">PE</abbr>...

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+15
Renewable Energy PE Overview

ob38dn

Hey folks. Spent a lot of time as a ghost on these forums back when I was trying to figure out what I was doing - figured I'd give back a little for anyone who's looking at the renewable energy infra/project finance space, with specific emphasis on the buy side. ###...

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+2
PE Career Path after MBA

Bill Stern @ Axe Cap

Can someone shed some light on what's the career path like after MBA? Recently, got offered for a 2+2 MBA program at a T15 school. If you do the traditional 2 year IB analyst and 2 year PE associate, do you finish MBA and recruit for Principal right away or is it post mba associate role?...

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Anyone heard of XIO Group?

TheOceanizer

Would really appreciate some intel on XIO Group. They seem sizeable (some sources say $5bn AUM), and recently beat out Advent for a $1.1bn buyout bid. Apart from that, there is an astonishing lack of info for a fund of this scale... Does anyone know anything and can share? Most interested in their ...

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+1
Trying to break into PE with Subpar CV

Jambalaya

Hey everyone, I'm fairly new to WSO and in need of some advice. I am trying to break into PE (ideally in London) and as so many have a subpar CV for the industry. Rough overview: German national with non-target undergrad, international experience including Big4 Acc internship in London. One year F...

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Black Diamond Capital Question

footballbanker1212

Black Diamond Capital is a Greenwich based Asset Management firm with ~$8bn AUM. I think they are mostly known for their CLO and credit HF business, but they also have a middle market PE group that most recently raised a $1.5bn Fund IV in late 2015. It would be great if anyone could share any inform...

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London: Exit Ops from Top BB (GS, MS, JPM) "niche" group to normal PE funds

128

What are the exit OPs in the city if you are in a "niche" group such as Oil&Gas, Real Estate or FIG at a top BB (GS, MS, JPM) for normal corporate PE funds (not like infra funds or real estate PE)?...

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Which PE Funds have Generalist programs?

htt2107

Which PE mega funds/UMM give generalist offers and which give industry specific? I believe Carlyle is industry specific, to start. ...

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Internship choice: 2nd tier Canadian bank IBD vs Jefferies S&T --> for a long term goal in PE

monkeytogorilla

Hi, I would appreciate some advice on my internship choices. I have a long term goal to get into PE. Both of the offers I received are Hong Kong based: 1: 2nd tier Canadian bank's IBD 2: Jefferies S&T From what I understand and research, Ive learnt that the Canadian bank's ibd unit has close to ...

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Networking to find Clients & Investors

CompliConsultant

So on this site we talk about how to succeed as a junior level employee and how to get jobs, but something that i have seen rarely discussed is how to succeed and take it to the next level aka making VP and above. We all know to a certain extent that at a certain point your value is bringing in cli...

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VC firm interview quant test

ship

am currently a management consultant with MBB. I have PhD/MBA and now interviewing with a healthcare VC fund. After 2 interviews, I am going to have a quant test. I am told that its a 4 hr test. so folks have any idea on what to expect and how to best prep for it? e.g. gmat type; build a NPV model;...

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+4
Madison Dearborn vs. GTCR

carlsbad83

Obviously two of the top names in Chicago private equity - anyone have any insight into how they compare in terms of culture, hours, pay, prestige etc.? Was discussing Chicago PE with someone recently and realized I had very little insight into either of these firms....

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Best PE Events in EU...?

pharn00

Hi, can anybody suggest best Private Equity / M&A / Fund raising meetups / workshops / networking events that are ongoing in Europe? Thank you! ...

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+10
Family Offices List

WallStreetOasis.com

1,133 Firms / 2,722 Emails / 2,285 LinkedIn Profile URLs and Growing Fast With the help of the WSO community (700,000+ members and counting), we are building a massive, self-adapting crowdsourced list of family offices that won’t break the bank. This list includes contacts from family offices ...

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+3
TMT M&A Graduate Intern in a recognized boutique vs. Analyst Intern in a well-known PE Fund

geobdh

Hello 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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+2
Industry-Specific PE in a Recessionary Environment

nightowl777

Hi all, I know this topic has been covered a few times, but the discussions are a bit dated at this point. I'm contemplating an opportunity with an industrials-focused MM PE shop in a Tier 1 city that has had strong fund performance. However, I am concerned about the firm's sector focus. Given t...

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+9
What is "Street" MM PE Compensation for Associate 1 & 2 and Senior Assoc. (3rd year)

twentyone

Seems like street for MM Associate 1 is 110-125k with 100% target (i.e. 220-250k all-in) for $500-3bn funds. Haven't seen much talk about what the standard raise is for the 2nd year, and then what the Senior Associate offers look like for the third year....

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How to spend my free time in banking?

AdultishGambino

I’ve been incredibly blessed to have been given an IB summer analyst stint this summer at a solid BB group, as well as an off-cycle IB internship this winter. It’s been since the early fall that I locked these 2 positions up, and I’ve given myself these past 9 months to prepare for my summer a...

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+1
LA Midmarket - Gores, Levine Leichtman

OhhThatsGood

Hi Everyone, Curious if anyone has experience working with or knows people at Levine Leichtman or the Gores Group, both in LA. Most of the threads on WSO around them date back a few years, and wonder if anything has changed. LLCP just raised a $2.5B fund in January (prior fund of $1.6B), and has lo...

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When to remove GPA from resume?

itdiestoday1557

How far along in your career is it appropriate to remove your GPA from your resume? Asking specifically about moving between PE firms after 2-3 years of experience (so ~5-6 years after undergrad), or perhaps when applying post-MBA? Thanks...

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Vista Equity Partners Analyst Program

MarthaStewartsAFelon

I'm doing an summer analyst internship at a MM bank right now. Me and a bunch of other people in my class got a blast email from a recruiter a VEP about summer networking events they're having in Chicago and NYC this month. I applied and (surprisingly) was invited. Does anyone know anything about V...

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ACT Score for PE Recruiting

Cosa-Nostra

Hi everyone, Curious to see what you think the minimum ACT score is to not be seriously dinged for PE recruiting. I intend to target buyout shops in the UMM space, but would also like to hear what you think the threshold is for other fund sizes. I assume MF/UMM funds have a higher minimum threshold...

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+1
Carried Interest on Operating Income?

Penacho

I work at a family office making direct investments in small businesses. As we're managing wealth for a family only looking to compound wealth over generations, there's no incentive to sell the businesses we buy. I was speaking to a laywer who said instead of compensating ourself with salary we cou...

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Kinderhook Partners reputation? Founded in 2003 from former Geocapital team

GibbonAwayNow

Can't find any threads on them or significant data on pitchbook. Located in NJ and have quite the scant website which makes me curious to know more. ...

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PIK Interest

B4nkd791

Has anyone ever come across a "borrower friendly" note where a portion of the interest PIK's, but the total coupon payment remains fixed, despite the PIK accrual?...

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8 years old with no finance experience, too late to get into PE?

AllStateRap

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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Preparing for Real Estate Private Equity Modeling Exam

gcoo

I have been in talks with a REPE company for several weeks. The last step to being hired is to pass the modeling exam. I'm an analyst at a similar firm now, so I have an idea of what to expect, but any guidance on how to best prepare/what I should focus on?...

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+1
Should I Take My PE Internship Offer?

jroney

I do not usually post in online forums, but I am desperate for advice. I just landed an internship with a relatively large private equity firm in southern Florida, and I am trying to determine whether or not to take the position. I am graduating this December from a non-target school (ranked 50-100 ...

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+6
Private Equity in London - US MFs vs European Funds

multi678

Hi guys! In a recent thread, a discussion regarding PEs in London came up that, imo, deserves its own thread. How are the top European funds perceived in comparison to the US MFs that are regularly described as the pinnacle on this forum? While the top candidates still seem to go for the known US n...

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Impact investing - choices

FigLeaves

Hello everyone, The subject of impact investing hasn't been very prominent on this site so far, but maybe there is someone here who could help. I'm currently in M&A at a strong MM shop in a major city and but decided to abandon banking for international development / impact investing. I've secured ...

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Infrastructure Project Finance/Private Lending

TechAM1

Can someone help me better understand the key differences in responsibilities at the analyst level for roles within infra PE and infra lending? Is it appropriate to think of direct lending as the same as commercial banking and a lower fee structure vs PE investing? Finally, is comp significantly low...

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Direct Lending Interview Questions - What to expect?

DocSchivago

I have an interview for a direct lending role - this is my 1st one and I haven't been able to dig up much information on what to expect in terms of interviews question. Hoping someone could shed some light. Thanks for any insight you are able to provide....

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+1
Opportunity at MM PE Group - questions/advice

UnbalancedSheet

Hi All, I am looking for some advice from the community for my current situation. For background, I recently transferred to a Big4 transaction services group focused on financial DD. A few weeks ago I was contacted about an opportunity with a fairly new private equity group. They focus primaril...

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+5
Independent Sponsor advice

SmileChimp

I want to become an independent/fundless sponsor for a dental rollup. I'm currently on the sell side as a dental business broker, and I've been a dental operator in the past. I'm thinking my experience is lacking to raise a fund; however, I want to take down 5-20MM in EBITDA through a collection o...

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GPA Cutoff for PE/Credit funds?

Dark mamba_11

What are the typical GPA cutoffs for private equity/credit funds. Are those with ...

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Ares Credit / Direct Lending - NY

crookedhillary

What do you guys think about this team as far as credit exit opps go from IB? Seem to be the domiate direct lender in the space but curious what this forum's thoughts are on the group. Pay seems to be comparable if not better than what ive heard first year PE guys making, and lifestyle seems much be...

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+9
$2,000 for any referral to The Talent Oasis

WallStreetOasis.com

Fellow primates, we are launching a new $2,000 referral program to help us reach more potential clients for WSO's recruiting services. ####Here's how it works: 1. You make a warm intro to the team member that runs analyst/associate/vp search processes for your firm (cc me using [email protected]

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Seniority - Trade Credit vs Senior note?

CU04

Hi everyone: In general, how would you determine if Trade Credit is senior to a Senior note, esp. in a bankruptcy scenario please? Can I assume that Trade Credits are pari passu with senior note, or is there a specific subsection of the indenture that might mark this out? Thanks!...

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Clean Energy Fund Modeling test

bankerella2

Hi All, I have a final round coming up for a clean energy private equity fund. I have no idea what will be on the test, but I am assuming the modeling test will be some sort of DCF based test with some debt and/ or tax equity involved. Curious if there any materials you recommend to prepare? The s...

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How did you choose your industry group?

htt2107

Hey all, My general understanding of Private Equity industry placement is that it does depend on the industry of your prior banking group. Moreover, while some PE funds have generalist programs, they also have industry specific funds like Blackstone’s Energy Capital Partners or say Infrastructu...

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Secondaries - 1 Hour Business Case - Advice

truelondoner

Will have a Business Case test with a mid cap Secondaries in Europe. They are generalist but do not invest in Infra or RE. I dont have much experience in Secondaries, only in Primaries and Directs. Since it is 1 hour only, and will need to develop the valuation and thesis, will kindly ask : - Pre...

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Off-Cycle Headhunter Screens

yb363

Hi all, Applied for a Summer 2020 role at an upper MM PE shop through a headhunter I had met with previously that emailed me asking about my interest in an upcoming process. How much time generally is there between the headhunter blast and the interview notification / process? It’s been about a w...

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+28
Keeping Management Motivated Post-Exit

takenotes08

Hey all, I was able to acquire a small managed service business a few months ago ~1M Revenue, 300k EBITDA almost all recurring revenue. I am looking to acquire another one in a different area ~3h flight away from where I am living now. The deal is ~2M Revenue and ~500K EBITDA, with about 60% bei...

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Undergrad to Private Equity?

NJStudent1021958

Hi, So quick background: I am a High School Junior from NJ, and I've always been interested in investment banking, particularly private equity. I know that it's rare for undergrads to get a PE job after graduation, but I wanted to know which schools give the most likely chance of getting a PE job ou...

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Private Credit Funds

threescreen

Can anyone discuss their experience working at a private credit fund (senior loan fund, BDC, etc.)? In terms of exits, I've read that most people tend to stay in industry, but what other opportunities are possible with private credit investing experience? ...

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+5
IB SA --> FT PE -- Interview Timeline/Process during Summer

specterross21

From just a quick scrape of LinkedIn, the number of IB Summer Analyst jumping to FT Private Equity has definitely increased than in years past. For those that did make the jump, how did you navigate the interview process/timeline during your Summer Analyst program? Did you call out sick on superday...

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+1
Blackstone Private Wealth Solutions

CorpRaider101

Anyone here know about this group? How are the interviews structured? timeline for offer? I would like to know how the culture is here. ...

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+1
Foreigner in private equity in South East Asia

Black Toro

Hi, I am looking to make a move to South East Asia after having worked in London for a few years (bulge bracket IB and MF PE) Does anyone have a list of PE firms in South East Asia recruiting foreigners? Who are the best headhunters to use to look for a position? ...

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Spinning Op Model experience for PE interviews

MBBKilla

Hi guys, I'm a first year analyst at MBB. Since I've started I've been working on an OP Model case for a $70B+ market cap, consumer goods company. For those of you who don't know, operating model cases deals with org structure (who reports to whom), roles (who does what), and how those come togeth...

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Strategies employed by PE firms on Target companies : can you suggest me some books where these topics are discussed ?

theworstinhisclass

Hi guys, I must write a master thesis about the strategies employed by PE firms on acquired companies post-acquisition, can you suggest me some books or papers where I can get valuable informations ? thank!!!...

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+12
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...

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What happens to unvested carried interest when fired?

JustADude

Anyone know what is market for carry vesting periods? And if you get pushed out involuntarily, do you lose the unvested amount? ...

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