Silver BananaTopic
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VC / PE Carried Interest Language in Employment ContractHey all - long time lurker here and this time need your help with something. I recently got an offer for a new VC fund and was promised carry as part of the compensation package. My job title is Director of Investment but for all intensive purposes think of it as senior associate / VP level. I wan...
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Performance Equity Management I have a second round interview with PEM and part of the interview will be an hour long technical exam. Any idea of what the technical exam might consist of? Is it a lbo model? I'm really interested in this firm so any advice or suggestions would be much appreciated. Thanks! ...
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Headhunter meetingHad a headhunter meeting the other day and emailed a thank you email after. Should I be worried if they never responded? ...
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Private Equity Investment MemosHi Folks, I need to prepare myself for buyside interviews and wanted to check if anyone could refer some good source for preparing investment memos. Any additional checklist for interview preparation will be most welcomed. Thanks...
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How to send an interim email between first email + coffee chat and asking for an interviewHi everyone, when I was a senior in college (last year) I spent the time networking with people at a few specific private equity firms at which I'd be interested in working. Many of them were nice enough to get coffee with me or talk on the phone about what they do. Come January, when it's off to t...
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What is the point of doing private equity if you will be pushed out after two years to get an MBA?What is the point of doing private equity if you will be pushed out after two years to get an MBA? and then wind up as an associate when you could have just stayed in banking and be close to getting a VP promote? Am I totally confused about how this works? What am I missing?...
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Company Review: MassMutual Financial Group - Great company to work forThe team gives an in depth look at investing. There is a lot of room for personal growth, and the team is very tight knit. It can be a hectic environment when there is a lot going on. The technology is still relatively new so every now and then there are bugs in the system...
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Should I take up a VC internship?A little about my background. I am from Singapore, and have a degree in engineering. I had my own startup for about 6 months, but stopped pursing it after realising that it will not work. It was a F&B startup to connect people with wholesome home-cooked food. I was looking for jobs, and was offered...
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Company Interview: Bloomberg - Global Data - Equity Data Analystcannot recall the exact questions. The first one is an introduction of yourself. Seems to be for test only. And there were three questions followed. One I could recall is that In Global Data, we source data for the terminal,where do you think we source our data from? I was given one minute to organi...
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International Student Sophomore Internship Hey guys, I'm a current sophomore at the University of Virginia and am applying to the McIntire School of Commerce this spring where if accepted, I'll be doing a finance and IT double major. I currently have a 4.0 and excellent extracurriculars (I can include more detail on this if needed). I'm an...
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Family Office Direct Investment MarketplaceWould love to learn about any of you Monkey's interested in the space. More and more family offices are getting into the world of Direct Investing (vs. fund investing) and I'm wondering if new / 2nd year analysts / associates are considering FO's as a viable option vs. traditional banking / PE....
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Family office Private Equity - helpWould you work for a family office that does PE? What is the pay difference between direct PE and 'normal' pe? Please help!...
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What role do consultants get hired into at BC Partners?Someone today was telling me that BC is a consultant friendly shop. I am trying to get a sense for if they are one of the firms that hires consultants to do operational work, or if they are a fund where consultants are regular associates insofar as they're not precluded from deal team track....
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Company Interview: Balbec Capital LP - AnalystIf you have a cube that is ten by ten by ten and you remove a side of each face then what is the remaining cube and how many individual blocks are left? remember that you are taking a side from each so you aren't removing a one by one by one but a two by two by two this results with an eight by eigh...
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Impact of interest rate deduction legislation on private equity strategiesHey folks, I'm trying to wrap my head around some of the proposed changes to the tax code. While passing the proposed package of legislations (lower corporate tax rate, lower pass-through rate, curtailment or elimination of interest rate deduction, immediate expensing of capital expenses) is politi...
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PE Associate, please help on lateraling Hi fellow WSO-ers, I am a fellow contributor to the forums here but created a new account for this post to remain anonymous. I went to a non-target and managed to get into an MM bank specializing in an industry group, after a couple years, I managed to wriggle my way through recruiting and receive...
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Remote Growth Capital / Venture Capital pro bono jobHi everyone, To put things into perspective, probably best to give you a bit more background. I am a former M&A banker now working as a Senior Associate for a mega fund. For reasons I have explained in another thread, I am considering a move to another PE fund in the short-term. I have had the chan...
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Moving from Big 4 Advisory to MM PEHello everyone! First of all, some background. I graduated form a very small non-target school about a year ago, and just recently I joined the financial advisory group (MM M&A) at one of the big 4 in my home country (Latin America). So far, the experience has been terrific and I know there is a lo...
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Info on CD&R / Centerbridge / Cerberus / Golden Gate / OnexIf anyone has familiarity with the above shops past what is listed on websites, already on WSO, or in public pension documents, would be great. If anyone has had these guys in a sell-side process would be good to know what your impression was. Primarily concerned about b-school pipeline, deal experi...
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Resignation by the end of probation period (PE job)Hi everyone! I am in a relatively difficult situation to assess and would appreciate if I could get some help from fellow members who might have been through something similar. I am Senior Associate in a very large fund that I joined a few months ago. The job is great and there is no doubt I like...
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Company Interview: The Burgiss Group - Private Equity InternThere really were no unexpected questions asked. The interviews were extremely easy and all behavioral. What are your strengths? What are your weaknesses? The office is very quiet how would you handle that and can you try to change the atmosphere? Why would we hire you? What do you know about privat...
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Undergraduate GPA affecting MF placementIf I complete my undergraduate degree from a non-core state school (UT McCombs/IU Kelley/Michigan Ross) with a 3.7 but work at a tier 2 BB in one of the top groups (M&A/LevFin/Sponsors), what are my chances at landing a MF gig for PE recruitment? Assuming a good gmat score of 750+...
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PE Product Specialist Case Study - Help: interview this week!I am interviewing for a Product specialist role (client relations) and have two case studies. I am guessing its not a DCF / LBO traditional case study since that is not the work i would be doing. Any thoughts on how or what to prepare? Two in house, 2 hours case studies and for one I have access to ...
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Any Programming (Python) Uses Cases in PE?Are there any use cases for programming, namely python in PE? I see how it can add value in the HF world, however, struggling to see how it might add value in PE besides automating exercises like sourcing. Does it add value in the day-to-day, is it a candidate differentiator, or is it just a talkin...
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Transitioning into PE from Financial Management rolesHi All, I wanted to solicit some advice on how one can transition into PE without a banking/IB/consulting background. To elaborate on my current situation, I'm a finance manager at a large division at Comcast and have extensive experience in identifying and driving growth initiatives and value crea...
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LMM Emerging Markets PE to Columbia MBA to London PE ShopHi guys, Please do not be afraid to be extremely blunt with me. I spent four-years in a Lower Middle Market Private Equity in Emerging Markets (I am originally from Brazil), then moved to a Long/short Hedge Fund for my pre-MBA and am now attending Columbia Business School. I have a dual nationalit...
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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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Corp dev at big tech firmsDoes anyone know what the recruiting process/timeline look like for big tech firms/start ups? (Think google, fb, uber) Do they use recruiters or just their internal HR? When do they start recruiting?...
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Energy PE Recruiters/Search FirmsDoes anyone know which recruiters/search firms recruit for the main Energy PE firms? I'm doing oil and gas banking at a decent shop but haven't heard anything yet. Just curious for firms like NGP/ Encap / Quantum / ArcLight/ Riverstone / Kayne/ etc. etc. Any insight on the above is much appreciated...
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How to Explain What Private Equity is to a LaymanHow do you guys explain what private equity is and what you do to someone has no idea what PE is in a way that they can understand? Seems like every time I have this conversation they just nod there head and smile, so trying to come up with a prepared response that a layman can grasp and appreciate....
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Super day for a private equity firm for research analyst, what to expect?Hi! I have a super day for a summer internship coming up soon for a research analyst position - new to finance/first super day, what to expect?...
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What to expect in an informational interview (still undergrad)?Through some networking and cold calling, I've managed to set up an informational interview with an investment analyst for a reputable MM PE firm (outside the US). I'm at my final year at uni, and I have work experience in boutique IB, VC and an upcoming Big 4 CF internship. However my GPA is pret...
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Company Review: Caisse de dépôt et placement du Québec - Good CompanyGreat team Global presence with offices in NA, Europe, Asia and Australia Large Cap deals with good GPs A lot of talents . Dont have to much to say here. A lot of bureaucracy and hyerarchy. Very political sometimes and high risk aversion...
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A question about deal timingWhat are the major milestones of a deal? I know it varies by firm, but I'm wondering: * When does the LBO get made? After the first pitch to the deal team I'm assuming? How many weeks before bidding is the LBO made? * What happens in the last few days leading up to the bid/buy? * What do you call...
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New analyst: How do I get noticed?I just started with a MM PERE firm - which is a dream job of mine. Some background: - I graduated from a "non-target" state school - I have internship experience in PERE, consulting, and equity research (yes I am all over the place but the PERE internship was the last internship I did and I fell i...
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Thoughts on Macquarie Infra PE SA over regular investment banking SA?I got a summer offer in infrastructure private equity with Macquarie Infrastructure and Real Assets (MIRA) in New York. What are some thoughts/pros/cons on taking this offer over pursuing a more traditional summer analyst gig in investment banking?...
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BlackRock Portfolio Analyst role vs EY Consulting role for VC in 1-2 years?----------------------------------------------------------------------------------------------------...
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Company Review: The Riverside Company - Excellent Place to WorkI loved interning with Riverside. The connections I made in just a month were amazing, and they helped me get the job I have now. They recently contacted me about an opening, so if you intern for them and do a good job, you will certainly be rewarded. Friendly culture, and Stewart Kohl (Co-CEO) is a...
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Is it true that Private Equity requires more quantitative and technical skills, while Venture Capital is more qualitative? From what i'm reading online, i get the idea that the job in PE involves more technical knowledge, working a lot with models, and having in general more quantitative skills to be applied. On the countrary, i seem to understand that while a certain degree of quantitative skills are still required in...
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Company Interview: Generational Transfer Entrepreneurs - Summer AnalystThe questions for the most part were relatively easy questions to answer. I remember one particular question that threw me off was how to think strategically about a specific company. This is a pretty standard company but then they said to do some strategic thinking on it. I wasn't exactly sure how ...
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Thoughts on Caisse de Depot - Private Equity as an undergrad analystThe Caisse de Depot et Placements du Quebec (Caisse or CDPQ) manages ~CA$286bn and has ~CA$30bn allocated to its private equity division. They recruit some of their interns as full time hires (although most of them seem to leave to go work in IB after they are done). What does WSO think of them? T...
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Private Equity Compensation? Hi, I was wondering how much I can expect to make in private equity? I have the opportunity to go to a target school in Canada, and I originally was premed, but have developed a liking for finance. I know that investment banks 100k+ in the states, but I how much can you expect to make in buyside fin...
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Typical Percentage Carry at a Megafund vs. MM FundWas wondering if anyone had a good sense for what a "typical" carry precentage is for each investment professional at megafunds (e.g., Apollo), upper MM funds (e.g., Vista Equity Partners), MM funds (let's say investing out of ~$1bn current fund), and smaller funds (e.g., $500mm)? How does that vary...
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Equity for Real Estate DevelopmentWho would you use for private equity in major developments in key cities in Europe for resi and hotel development?...
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Company Review: Goldman Sachs - greatPeople around are smart. I learn a lot.What makes a happy company? There is a growing body of evidence that a happy person performs better and is more successful in the workplace. Whilst the evidence may not yet be conclusive, surely it is better to be happy at work than not? A number of surveys ha...
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Aquiline PartnersAnyone have any insight into Aquiline Partners and its summer analyst and analyst programs? It does "FIG" PE since it specializes in financial services. Would that pigeonhole you?...
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PE Headhunter RecruitingI would appreciate if you could share your knowledge about how headhunters recruit IB analysts for PE jobs. Do headhunters forward resumes to their clients on a rolling basis or is there a particular time, such as a few weeks before the PE interviews are expected to begin, when headhunters begin ...
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Little Known Secret to Start Angel InvestingIn today’s post, I’m going to share an extremely valuable insight which I came across while listening to [The Meb Faber Show](http://mebfaber.com/podcast/) podcast; in particular, [episode #69](http://mebfaber.com/2017/08/30/episode-69-jason-calacanis-little-secret-way-dark-art-becoming-truly-we...
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Company Interview: Bain Capital - Bain Capital1. Tell me about an interesting book that you've read. 2. Tell me about one of your favorite classes and something specific that you learned. 3. In analyzing the market for a commercial vehicle manufacturer, tell me the differences that would exist for suppliers of wheels and suppliers of transmissi...
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Can anyone help me value the worth of this internship?[POST HAS BEEN REMOVED] [POST HAS BEEN REMOVED] [POST HAS BEEN REMOVED] [POST HAS BEEN REMOVED] [POST HAS BEEN REMOVED]...
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Infra PE Analyst vs. Pension Fund Infra PE AnalystFirst time writing at WSO. I've been spectator for some time - finding this website has been the best thing ever happened to me. I'm saying this because now I have few decisions to make! FYI. I have always been interested in infrastructure and project finance. Option 1) Public Finance role at BB...
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Recruiter InformationGiven that there doesn't seem to be too munch information on the clients that most headhunters/ recruiters represent, does anyone know which PE firms the below recruiters represent? Any additional info. on these search groups would also be greatly appreciated. SearchOne Carter Pierce SG Partners Dy...
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Company Review: Macquarie Group Limited ABN - Macquarie CapitalVery big and complex projects to work on. Good atmosphere within the team. Compensation is fine but not too much. Sometimes long hours. Also you do a mix of investment banking (advisory) and infra investing. I was not a fan of the advisory...
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Special Situations/Distressed PE - strategies? process?Do most distressed/special situations PE funds strategies lie in using their network/i-bankers to source companies that need an equity infusion or might be a good loan-to-own bid? It seems like such a broad area, so I'm curious what the general thought process is behind most of these funds' strategi...
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Goldman Sachs Private Equity Group (PEG)Anyone know what typical total comp is at the analyst/associate/etc. level? Currently a senior at a top ivy and also wondering about culture etc...
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Doing a second pre-mba Associate stint at a larger PE firmI work at a lower MM PE firm and am wondering if it is worth exploring this option once I finish my current program (2-3 years). Let's assume for the sake of the discussion that my long term goal is to end up in a partner-track position at as large a PE firm as possible. My reasoning for considerin...
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Post MBA INVESTMENT Exit Opps: Consulting vs IBDHi All, I am interested in hearing about the finance/investment related exit opportunities that people have seen pursued POST MBA for banking and consulting. I am speaking about someone who joins banking or consulting after MBA with no experience in either beforehand and considers exit within 2 yea...
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Rescue Financing / Control InvestmentsI am senior at a Non-target UG who signed a FT offer with a top-tier BB (GS/JPM) to be in a desk analyst role focused on distressed credit situations (after spending the past summer there). I have good reason to believe this sets me up well for distressed debt hedge funds. However, I recently atte...
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Best Private Equity Firms in San FransiscoAnybody have any insight on this? Would love some insights on good PE shops that hire out of undergrad (Stanford/Berkeley)...
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Company Review: CPP Investment Board - InternPretty relaxed environment with no face time and smart people. At the same time it was too relaxed sometimes. . Too relaxed at times and some people were complacent. Some people never get fired which makes people lazy....
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PE Internship and payHow many here has interned at a PE firm in the US? Is anyone willing to comment how much they got paid a month? I might have a internship at a low-middle market PE firm for a year and I'm wondering what I can expect to get paid. Thanks!...
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Corp Finance to PE - UpdatedFellow Monkeys, I'm a first year analyst at a respectable MM (Jefferies, Mizuho, Macq) in a corporate finance advisory role covering TMT. The bank is known to have some high profile clients in the TMT space and I have had some exposure to some rather large names. Before my role here, I was a credit...
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PE Firms Recruiting UndergradsI'm a senior at a target school (HYP) who did a tier 2 consulting internship last year (OW/Deloitte/S&) and am looking to start my career in PE. Does anyone know if any PE firms are still in the process of filling their 2018 analyst classes with college seniors?...
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Rollups in IRR calculations - how to address?So let's say you're given a case where the sponsor with majority ownership of a company makes several smaller roll-up acquisitions. If it **doesn't** say whether or not the sponsor uses their own money, do you assume the company uses their cash on hand, assuming they have some, and the rest is spons...
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What does an experienced private equity associate resume look like?Hey guys - I'm currently finishing up my first year as a PE associate and am thinking now would be a good time to update my resume (have closed two deals). While there are a billion examples of investment banking resumes out there, I haven't seen a single example of what an experienced private equit...
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Final round interview with Megafund advice?So I have a third round coming up at one of the top funds. and I'm really stumped on how I should be preparing since we've covered all bases. From what I was told from HR after the second round, the next stage will probably be with the associate/VP again. The interview line up looked like this (30 m...
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FIG PEI'm a first year analyst in FIG at a lower BB shop who's debating whether to move A to A down the line, or move to PE. I know the FIG PE opportunities are narrower than other coverage groups, and was hoping to hear some thoughts on PE shops focused on FIG, particularly if anyone has any knowledge on...
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PE summer internship applicationHi guys I am aware of difficulty of breaking into private equity after graduation. But I just want to know except for Blackstone, CDH, Hong Capital, Hillhouse Capital Group are there any other private equity have summer internship program? Well I come from China and now study in London Therefore l...
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Ares Special SituationsHey guys, If anyone has interviewed with Ares' special situations team in LA or knows anyone who has, would love to hear about your experience. Have a first round coming up so wanted to know what the process entails. Thanks in advance!...
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Business Development Comp in PE?What is the comp range for business development associates at well known MM private equity firms in medium-high cost of living cities?...
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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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SIlverLake Partners; Buyout, Late Stage Growth or both?I noticed that Silver Lake Partners pursues "large-scale private investments in companies within the technology, tech-enabled and related growth industries" but that it seems from looking at their portfolio they do a combination of buyout (Dell) and late stage growth (Groupon, Ancenstry). Is this ...
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Is Search Fund Experience Valuable?How is Search Fund internship experience looked by Investment banks and Private equity firms? I have work on a few lbo models, build three statement models, work with brokers for finding deals and evaluating CIMs....
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Blackstone First Round Interview - Real Estate (Hong Kong)Hi, I'm an undergrad junior, non target, internship in Corporate clients last summer but not really IB -- I have an interview with Blackstone Hong Kong Real Estate in a few days and was wondering if anyone could give any insight about it? Any information about Blackstone's general first round inter...
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Company Interview: Borland Capital Group - Borland Capital GroupThey asked most questions on your resume. They went point by point through your entire resume and then asked you questions about the different aspects of your resume. The only hard questions they ask is that they want you to pitch a stock, and pick an industry for you to go long or short on. They al...
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How is TA Associates and CVC - LondonCan anyone comment on the below for TA Associates and CVC: - Lifestyle / Culture - Type of fund (TA more like a VC fund?) - Sourcing Model - is TA really mostly cold calling CEOs? - Comp - Brand name / prestige (not so much important but would still like to hear your thoughts) Couldn't find mu...
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What makes a good VC? (Research project)Hey everyone! Hope you're having a fine Saturday. I am working on a stats project and have decided to do it on what makes a successful VC. I need to come up with both quantitative and binary qualitative variables. Here's what I've got so far: Quantitative: -total $ amount raised in all funds -total...
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Venture Capital & Private Equity: Casebook - differences between editions?Hi guys, just need help with a quick question: are the cases from the older editions included in the newer ones? or are they constantly refreshed? Am asking to figure if I should get the 4th or 5th edition. any other inputs on the book are most welcome, looking to purchase to learn more re the inv...
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Corporate Development to Private EquityHey everyone, I previously posted about [this](https://www.wallstreetoasis.com/forums/entry-level-corp-dev-exit-opps) in the CF forum, but would like to see if anyone in the PE forum could share their experience moving from an entry level corp dev position into a PE analyst/associate role. Thanks...
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Where to Find PE Fund Performance DataI know when I was interviewing for PE, it was very hard to find PE fund performance data to gauge the attractiveness of different shops. Unless a PE fund has done ridiculously well or sh!t the bed, performance data isn't usually easily available to the public. Know Pitchbook provides some info, but ...
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PJT Secondary Advisory FT Analyst? Hello everyone. A bit new to WSO in that I have not officially posted before. I recently received a first round interview invitation for PJT Partner's Park Hill Secondary Advisory Group in NYC. I interned at a BB this past summer. I have not been able to find much information online since PJT Partne...
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Company Interview: CITIC Capital - PE Internthe most difficult and unexpected question is about the stock pitch because I thought it would ask me several questions about the financialling modelling and I have prepared the EBITDA EV and other things It turned out I never met questions like that Insead I was asked to looked for some promising...
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Infrastructure Private Equity Analyst InterviewHi guys, long time lurker, infrequent poster. I have an upcoming interview and although I have a rough idea on how to prepare, I was looking for some insight from more experienced people. For example: what valuation methods should I focus on, any relevant literature I could take a look at, etc. Any ...

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