Silver BananaTopicReplies
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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Ardian - Interview - Private EquityTech questions. Let’s say Apple is buying $100 worth of new iPod factories with debt. What is on the 3 financial statement. Now let’s go out 1 year, to the start of Year 2. Assume the debt is high-yield so no principal is paid off, and assume an interest rate of 10%. Also assume the factorie...
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JLL PartnersAnyone have any info on this firm? Pay, culture, etc..? Thanks!...
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Anyone have a street opinion of Union Park Capital?Lower MM industrial technology PE firm located in Boston. Looks like the seniors are mostly former Battery Venture guys and I know they've been successful with their recent foray into tech buyout territory. Anyone have an opinion of their team?...
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Audax Group - Interview - GeneralistThe case study was difficult because I wasn't expecting one from a private equity firm. I was more expecting your typical IB interview questions. The interviewer was very pleasant however and walked me through it. I believe the specific question was, if you were setting up a bar in your local area h...
GPB Capital Holdings LLC - Interview - N/ANone really. The basic why Private Equity, why GPB, why New York. The people I spoke with were very laid back as it is obvious summer is not peak season. I think the program does a good job teaching as well as putting the interns to work with live deals and work that isn't entirely grunt work. Unfor...
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Internship: Unicorn Start-up vs Boutique PEFor additional information: 1) Both are in Singapore 2) The startup is currently very, very hot. Thanks in advance, I am trying to keep it general so that this thread can also help others....
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OTPP background check process?Hi there, anybody here has accepted a co op offer from Ontario Teachers' Pension Plan? what's in the background check ? Is it done by a third party ? Do you have to send in your official transcript? how long does it take ? Thanks!...
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What is the Incentive for Charter Asset Management?Hi Everyone, I'm looking into a private equity position at CAM (https://charterassetmanagement.com/about-us), and I'm trying to figure out exactly what the financial appeal for the company is. I understand that charter schools value the liquidity that CAM provides, and that CAM collects their inves...
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No country for old I-bankers (starting a mid-career thread for finance professionals)Starting a thread for mid-career finance professionals. Where did you guys go after banking? I ended up in PE myself, but man, it's hard. Seems WSO is all about the younglings but I wanted to hear what you fellow mid-career guys are experiencing. It's quite amusing to see the many young WSOers wa...
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Language capabilities - An advantage in PE?Hi everyone, I have been thinking about making the jump from management consulting to PE but I wonder if I, currently, have a strong/interesting enough background. I have 2 years industry experience, supporting CFO/CEO in corporate development, fund-raising and operational improvement, and current...
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Long run PE compensationThis forum is very focused on entry-level folks, and the compensation discussions are always just about pre-MBA and post-MBA associates. But we are not going into PE for the short term - what does the long-term compensation path look like in the top PE funds (KKR, Blackstone, Apollo, Carlyle, etc)?...
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Private Equity vs Consulting?Hey everyone, I am currently a first year analyst at an M&A group of my bank. I really appreciate the learning opportunities and experiences I am getting but am having some questions/doubts about next steps in my career path that I was hoping this forum could help with. Initially, my plan was...
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Morgan Stanley - Interview - N/AMost difficult part was the tougher mental math questions they asked in the first round. There was also a modeling test which was comprehensive excel wise and included a written portion about my opinion on the investment opportunity. I do not believe it would be a big deal to not finish the test as...
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Proptech - anyone cover real estate+technology?hi all I work for an Asia-based family-owned conglomerate whose main business is property. I'm trying to launch a proptech initiative internally, as I run our in-house PE function. Do any of my fellow WSO monkeys work in proptech or have expertise in this area? Thanks, Mattan...
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On Cycle Recruiting 2018: What to ExpectMonkeys - due to the absurd timelines for private equity recruiting, many first year analysts (including myself) feel pressured to proactively prepare for on-cycle private equity recruiting. Would be helpful to have the community outline a prep plan for the next few months. Particularly, how should ...
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Sourcing new clientsWhat are your most effective ways to source new clients? (My firm raises capital on a per deal basis)....
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AMA: MM PE (~$1.5B AUM) Associate in AsiaHi WSO community, The forum has always been beneficial to me. Therefore, I decided to do this AMA to help others. I'm currently an associate at a middle market private equity firm (~$1.5B AUM) in Asia. My background is relatively typical: top 4 undergrad in China, two years at tier 2 consulting f...
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Lev Fin vs M&A for MM PEInterested in both M&A and Lev Fin at a bank I have an offer with. For background, Lev Fin definitely has more deal flow but they don't run with the model. M&A doesn't have nearly as much deal flow but the modeling experience would be a huge advantage. Want to exit to a boutique or MM PE shop outsi...
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Venture capital returnsHow much of a return do VC companies typically look for?...
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Big 4 Deals/TAS—>South Asian PE—>Kellogg MBA/PE LAB—>MM PE post MBA, is this possible? I’ve seen this girl make the transition to mega fund PE after 2 years at Big 4 deals. Can I do the same except that I’ll be recruiting from an MBA? My experience at big 4 is great and solid, worked on a lot of deals especially with PE firms. ...
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Private Equity firms that recruit undergrads?What PE firms recruit from undergrad? Probably a ton of posts like this, but honestly curious. Would love to get into an REPE firm. I'm a current jobless senior...
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Goldman Sachs - Review - Investment ManagementVery nice office, heavy prestige factor. Solid benefits and exit opportunities. The support system is also very helpful.. One of the most political organizations that has ever existed. The senior staff tends to dump work that nobody wants to do on the junior staff. ...
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Who actually works at a SPAC?Just curious, does anyone know of any junior or mid level employees who currently work or have previously worked at an "independent" SPAC like CF Corporation? I'm wondering how people land such gigs and what happens once a deal is in hand. It seems like it would be an interesting experience, but I d...
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JLL Partners - Interview - GeneralistExplain the power supply stack and why it is significant (background in power) Questions around FCF conversion and what conclusions can you make about a business with very low or high FCF conversion What do you think of the power space and identify and major trends you see What was the biggest chall...
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Does anyone know of any Private Equity firms that invest in SaaS companies >$10m revenue? I am just curious if there are any well-known boutique/mid-sized firms investing in smaller deal sizes that you guys/gals may know of?...
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PSP Investments - Interview - Private EquityMost unexpected one was walk me through an LBO, which isn't that tough in itself, but it becomes more difficult when they ask the harder hitting questions like oh what happens when variable x changes within the LBO model, also the company that I had to do an LBO company on was an early stage tech co...
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PE vs. growth vs. VCHey guys, I've always worked in growth capital. Does anyone have any experience working at VC and PE both and can compare and contrast the experiences / firms, the nature of work performed, the opportunity for advancement, and comp? ...
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Bregal Partners - Interview - Private EquityHe asked me to walk through my resume. Then he dug a bit deeper about what I actually did in my prior experiences as an intern at an investment bank and the deals that I worked on. Then he asked about my interests and what I was involved in on campus. There were a few more behavioral questions. The...
Cerberus Capital Management - Review - Private EquityPeople work hard, culture was pretty good. Everyone was very smart and intelligent. Great deal flow. . During big deals, hours can get really bad. Not the best communication between senior management and associates....
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Mainland China Opportunities post IB stint in USAHello, Can anyone provide some insight on working in finance in Asia (particularly Mainland China)? I grew up in the US and am working currently an IBD analyst in the US at a bulge bracket firm. I do have the language capability to work in China. I would be interested in either working for a weste...
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Looking for Private Equity Startup Talent Launching a PE Firm and looking for talent with PE Experience at all levels. Landed a three project development that includes three Marriott branded hotels, residential tower and 100,000 sq ft Casino. One hotel already built and operating, second breaking ground 1st quarter 2019 and third breaking...
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Does anyone know of any PE firms that write smaller check sizes (SaaS >$10m)I am asking because it seems like the majority of PE firms have higher investment criteria like $10m+ in revenue, $2-5m+ EBIDTA, etc....
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Blackstone BREDS Full-Time Phone InterviewAnyone else have a phone interview yet for debt strategies group? ...
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Infrastructure PE News SourcesI know infrastructure can mean a huge variety of things, but what are some good news sources to get a better understanding of larger deals? Would it be trade journals or something like that?...
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Cerberus Capital Management - Review - Strategy and OperationsThe culture is entrepreneurial. Employees choose work streams they would like to participate in based on personal strengths and abilities.. HR is weak and the resourcing is unstructured. Development opportunities should be added to develop young professionals....
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KKR Real Estate Private EquityHi, Does anyone have some insight about KKR Real Estate private equity or has anyone worked there or working there now? I have an interest in applying for a junior position and want to know more about it. Do they have both equity and debt funds or just one of them? How is the interview? Is it very ...
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Internship ChoiceHi guys, may I ask your opinions on the internship choice of the below situation? I recently got admitted by Wharton MBA and am thinking about doing a pre-MBA internship. I am currently working in PE industry in China with a local fund covering an industry I kinda dislike, so I want to quit my cur...
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Other - Review - Private Equity* smart colleagues * very interesting projects * prestigious firm / fund * very strong brand in China * lots of exit options in the local Chinese market . * insufficient recognition in the PE industry outside of Asia * grueling hours / schedule, with lots of late nights and weeke...
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Consulting to PE: Portfolio Teams Hi all, first time poster. Joining a strategy house/DD specialist in London (think LEK/EY-P/S&/OC&C) entry-level, with half an eye on transitioning to PE later in career. ***Context*** Having networked (+ desktop research + WSO trawling) I'm aware the main pool for PE is IB and that consulting as...
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PE question: FX hedge sizing EBITDA or EV?Say a US PE firm buys a European firm using USD funds. The target has USD revenues and EUR costs, resulting in an adjusted EBITDA made out of USD 70mn and EUR -20mn. Using a 5.0x valuation multiple, the fund has effectively a short EUR 100mn exposure. If I decide to hedge, should I enter a EUR 100mn...
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Looking for VC study materials (valuation, term sheets, etc.)Anyone got training materials for venture capital? I'm ideally looking for technical materials, such as info on valuation, term sheets, etc. ...
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Susquehanna International Group - Review - Private Equitysuper cool team, love the people here, it's all about merit and the work you produce and not about how much you can smooz your way around. not in the city, and even if it was it's philly. small team that works a little too hard sometimes but fun when they let loose a little...
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Escape Club / Exit HatchStarting a thread for those who are finding ways to get financially free - while working in finance. I've come to realize I cannot count on this financial career forever, and in any case, I don't want to *have* to keep on working if I can avoid it. So I've put a bunch of my money into real estate,...
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how to be a good intern / employeeI'd like to share the following story from the trenches, in the hopes that it helps others. I run the department of a family office's investment vehicle, and previously I was in PE. Those whom I feel are top performers do 3 related things: they are proactive, they take ownership, and they work coll...
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What is the best way to fund a roll-up strategy in a SaaS niche market without a stake/company (LOIs signed and ready to go)?Speaking more of from a fundraising perspective versus sourcing the deals to a regular PE firm. Would an Angel investor/VC be more willing to fund such a venture?...
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Is there another good finance-career forum out there?I was reccomended to this forum by a friend - he said it was the best one out there - and there does seem to be a lot of knowledgable experts in here. But, there also seems to be about 3 or 4 times as many bitter smart arses. So, I was just wondering, do any of you know of any good alternative for...
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Armanino - Interview - Generalistwhat are the different revenue streamlines you know?what are the different revenue streamlines you know?what are the different revenue streamlines you know?what are the different revenue streamlines you know?what are the different revenue streamlines you know?what are the different revenue streamlin...
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Megafund Credit to BschoolI'm planning on joining the Credit team (looking at HY specifically) for a MF firm (GSO, Apollo, Ares, Bain Capital) as a first year analyst out of undergrad. I'm obviously aware of PE placement from these firms but are Credit analysts/associates looked at in the same manner? My goal is to eventuall...
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Other - Review - Private EquityYou get to work on interesting lifescience and healthcare projects, among smart colleagues. Working in healthcare means you feel you're making positive social impact.. This place has extremely high turnover because the CEO is a world-class douchebag. He cannot keep the team together as he is abusi...
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anybody knows anything about Beacon Tree Capital in Boston?https://www.beacontreecap.com/ seems like they have a decent team. Anybody knows anything about the firm ? like the deal flow, reputation and etc ? ??...
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PIK Preferred Equity ModelingHey guys - quick accounting question that I wanted to double check with you. I need to model PIK preferred equity (8% PIK) and am thinking myself in circles around how this shows up on the three statements. I know that the PIK will be accruing to the Preferred Equity on the balance sheet each year, ...
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What is so bad about LMM/MM funds?Why do many people who work at a MM Boutique never break (or I guess don't want to get) into PE? I understand that there is a lot of competition within MF (Carlye, KKR etc.) / upper MM Funds (Summit, Equistone, Permira etc.) but especially in LMM Funds up to Funds with 1bn AUM there seems to be onl...
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How to tell the prestige of LMM or MM PE firms?Hello all - I am currently interviewing for multiple LMM and MM firms (Undergrad Internship) and I was wondering how I can assess the quality of a mid-market shop. I feel like there's a group of huge PE firms that everyone knows and can assess the quality of, but then a ton of MM PE shops that do n...
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Private Equity - Interview with PartnerMonkeys! Anyone could share any tips for last round PE interviews with partners / senior guys? What to expect / structure / approach etc. Thanks!...
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Please delete (double post)please delete double post.. ...................................................................................................
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Great Range Capital - Interview - N/AWalk me through the main valuation methods? What the main financial statements and what are major line items from each? What is an LBO? Why would a private equity firm use an LBO? If depreciation increases by 10 (40% tax) walk me through the changes to the financial statements? In what situation wou...
Neuberger Berman - Review - Private EquityEntrepreneurial culture Growing organization with strong reputation in the alternatives space Decent pay. Pay lower than traditional buyout PE firms Top management heavy 401K benefits are deducted from cash comp...
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Mezz Debt Lenders for a $5M ecommerce business?hey WSO, A friend of mine looking to tap into the community knowledge. Anyone have any recommendations or references for mezz debt lenders to help fund an eCommerce acquisition that will be in between the $4-5M range? Thanks! Patrick ...
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Top Venture Capitals that hire juniors?Pretty self-explanatory question. What are the top 10-20 VC firms that hire pre-MBA analysts/associates/junior investors? ...
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Canadian Pension Fund Private Equity interviewsDoes anyone have any insights about Canadian pension fund (Teacher's, CPPIB, OMERS, CDPQ) interviews for their private equity teams? Would particularly like to know more about how many rounds should be expected, type of questions asked in each round (behav, case, paper LBO, excel LBO - how long?), a...
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Elon Musk stated that he is working with Silver Lake on a take private of TeslaAny thoughts on this? Firstly, I think Silver Lake has not even enough capital to take a company private half of Tesla's size. Secondly, this is for me a consortium play with some sovereigns/ pension funds/ PE firms of the size of KKR Thirdly, I do not consider a tech company? ...
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Favorite PE Plays?What are some of your favorites? Always thought this one was fairly clever: https://foragerfunds.com/news/dick-smith-is-the-greatest-private-equity-heist-of-all-time/ ...
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Advent International Corporation - Review - Private EquityGood culture. Good exposure. Professional people. Smart investments made. Good track record of returns and hence carried interest . Travel. Compensation is high, but not in large fund level. No perks or non-salary benefits. It as well known ...
Neuberger Berman - Review - GeneralistGood work life balance, nice team of people, wide array of projects that expand investment education. Not too many to note here, other than slightly lower pay than other friends in PE but thats about it...
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AMA: Non Targ -> BB Coverage Group -> Incoming MM PEHey y'all, i haven't been nearly as active on this website in the past few years, but this place was instrumental in my development as a prospective student, intern and also as a relatively avid reader during my time in IB, so i figured i would try and give back via an AMA. Quick background: went ...
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