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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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0
Providence Equity Partners email structure?

pats897

Anyone know what the email structure for Providence Equity Partners is? Trying to reach out to an alumnus from my school. Thanks....

2
+1
Pay Advance - Accepted a SA offer

wso1234

So I've received and accepted a summer analyst offer for an international firm (I am from the U.S.), and I got the official paperwork today. Pay is generous, but the letter mentions that it is payable on a monthly basis. The problem is I will not start work until the last day of May, meaning I will ...

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0
Interview with KKR/Capstone

teddine

Friends, I will have a first round interview with Capstone/KKR. Can someone give me some advice? What to expect from the interview, what kind of questions? Or how many rounds? I did some research but it seems very difficult to find out, about work, compensation and hours... Any comments will be appr...

10
0
Is This Private Equity?

TheDrake

I've come across a position at a pension plan, working in their private equity group but I'm not sure if it would be considered "private equity" per se. The job description says that the candidate will be working in a team that's a distinct functional area from the team that actually negotiates and ...

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0
Private vs. Public

manbearpig

I'm curious why some companies are so reluctant to go public, where other companies seemingly can't wait to do so. Especially when they seem to be in similar industries, circumstances etc... Can someone who knows about this stuff explain the pros and cons of going public vs. staying private?...

5
+1
Goldman Values Facebook at $50 billion, Digital Sky Technologies Makes 400% on its Investment Since 2009!

BankingRUs9

The New York Times announced today that Goldman Sachs and Russian Investor Digital Sky Technologies are investing $500 million into Facebook at a valuation of $50 billion. According to Second Market, some private investors have bid up the Company's shares to imply a value of $56 billion. This bid...

25
+1
Thoughts on Pathway Capital

cthorm

Anyone have any experience with, or opinions of, Pathway Capital? They're based in Irvine, CA with offices in Connecticut and London. ...

5
+1
PE is really boring

Sickofassociate

Anybody else find themselves incredibly bored by their PE job? I'm sure I'm not alone in this. Actually interested in what people currently working in PE think of their gig. Because, honestly, I just feel like I'm doing homework for a living and tweaking models 1,000x over isn't stimulating, it...

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Sourcing Model - Upcoming Interview

special_ant

Has anyone out there had any interview experience involving mock cold calls/sourcing? I have an interview coming up with a PE firm that partially utilizes the sourcing model and has been notorious for putting interviewees on the spot by performing a mock cold call to a CEO/CFO in order to evaluat...

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2 Big 4 offers

nontarget

Got two internship offers at a big 4.... Which one, if my LT goal is IB -> PE/VC? Banking & Capital Mkts Risk Management? or TS Valuation? ...

5
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What is the difference between Berkshire Hathaway and Private Equity?

StyleT

Could someone please explain the difference between the two?...

13
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Who recruits for Elevation Partners?

clb75

Anyone know? Providence would also be appreciated. ...

6
0
Pre-knowledge for Training The Street Modeling course - First year MBA

consultant 13

I am a first year MBA and am taking the Training the Street 2 day modeling course (description below) and was wondering what I should understand prior to the course. I have only taken Financial Accounting so I am by no means an accounting wiz and I have not taken a finance course yet. Any help i...

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Media/Entertainment PE Practices

clb75

Does anyone know of PE shops that are either focused on Media or Entertainment, or have strong presences? Funds of any size, just wanted to know who the players are so I can start targeting research. I'm sure others have this same question. The ones I have thus far (feel free to let me know if on...

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Buyside after one year - What will I miss?

SchruteFarms

My goal since graduating has been to eventually earn a PE job. Long story short, I can't wait to get out of banking. 100+ hour weeks, no vacation days, poor treatment, and people I frankly don't like working with. My experience has been different from friends at other shops (obviously in a negative ...

10
0
How's the pay in micro finance PE?

UBmonkey

I recently was contacted by a private equity fund that invests In Micro finance projects in developing markets. While I think this is a really interesting niche of PE, having work with several micro finance institutions and starting one in college, I know they get stellar returns if run well (I star...

0
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Please Help - Getting an offer?

polystangs

Hello, So here is the deal. October 2009 - Cold call MD and he replied back with wanting to interview me. I interview and it goes well, although he does not have any openings for another six months. July 2010- Reconnect and he calls me in for a second round interview which goes really well. He in...

3
+1
Private Equity Size

drf741

"Worked at a $1bn private equity firm" Is that $1bn referring to: 1. AUM 2. Size of current fund 3. Amount of fund invested 4. Total amount of fund raised? I keep reading sentences like these and have no idea which people are referring to. ...

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+1
How do Mezz funds make $$$?

wamartinu

They, as the buyout funds, will probably raise a certain amount of money (equity) from institutional investors and provide (invest) that money to PE funds who want to leverage even further their equity returns (above what they would get in a senior debt only deal). So the mezz fund is nothing more t...

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Duff and Phelps vs Accenture

traxaem

Got an offer at Duff and Phelps as a valuation analyst and also Accenture for their SI&T. - Finance major, top 30 undergrad school with a decent GPA. I'm thinking about the future prospects (ultimately would like to end up in BB in fin.), MBA opportunities in each path because I will probably stic...

10
0
How do PE firms view MSF no-name programs

ToBeOrNotToBe

I currently am an analyst in a CMBS rotational program for a b-piece investor and special servicer. However, I am very interested in making the jump to REPE down the road. I have been looking into a masters in finance program (meets twice a week, 12 month program) at a local no-name college. Does a...

9
0
Hey CompBanker

dukedevils27

Sent you a private message but not sure if you got it...thanks for your help...

10
0
PE list

Iceman21

Hello Folks, Does any one have a Capital IQ list of PE firms, I know there are some for IB's wanted to see if there is one for PE firms. Happy Holidays ...

2
+1
Another PE interview question - Usage of convertible notes in deal?

kanon

Since I received some really great responses in the last post I posted to veteran/PE WSOers (//www.wallstreetoasis.com/forums/pe-interview-question-if-you-can-only-know-3-things-for-an-investment-analysis), I thought I should put forth another PE interview question I received awhile back. This one ...

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Later round interviews - how to seal the deal?

wsab

For later / last rounds for PE / hedge fund interviews & say you're a pretty strong candidate (but not amazing stand-out strong), any suggestions for how to seal the deal / push the firm over the line from thinking you're another strong candidate to actually giving you an offer? Just curious if peo...

0
+1
Genuity Capital Partners (Toronto)

Blayze

Anyone familiar with these guys? They seem to have a temporary website, but other than that, don't know much about them. Any insights would be appreciated. http://www.genuitycp.com/...

10
0
Learning to Invest in Financial Institutions

International Pymp

Anyone here in FIG of with experience in Financial Institutions PE / investment able to recommend some reading material on FI investment theory? I'm particularly interested in learning about what kinds of modeling/valuation methodologies come into play, and also in gaining some insights on how to ma...

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MS PE HK SA

fgh123

Deadline for MS PE SA position has already passed. Has anyone heard anything from them yet? ...

2
+1
Do people at blackstone, KKR, etc...leave to start own PE firm

dukedevils27

I was wondering if it was common for people to work at Blackstone, KKR for say 3-4 years post-MBA, learn the skills of the trade, build limited partnerships contacts, become proficient, and then start their own private equity firm? Is this a common route and what are the limitations? Why don't a bun...

9
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RelayRides vs ZipCar

SAC

Google Ventures just invested in a service that lets strangers make money by renting their cars to strangers. Bloomberg has an article about it: http://www.bloomberg.com/news/2010-12-14/google-backed-relayrides-lets-users-rent-cars-for-cash-taking-on-zipcar.html Which one do you think will be more...

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KPS Capital Partners: more info on distressed investments?

pacopacopaco595

Any one have info on this PE firm focused on distressed investments (comp, culture, etc.)? Thanks!...

1
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PE internship and future

dukedevils27

Ummm...would doing a PE internship opportunity that I managed to land summer 2011 ( at a top 50 firm) before going to a top 20 med school program (full ride so I wont turn it down) be good for the following reasons??: 1.) Gives me some work experience + potential recommednation before I apply to ...

4
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PE Internship opportunity

bulge4lyf

Will be starting at a bulge bracket bank as an analyst next summer. Have an opportunity to work with a very distinguished friend at his new PE fund before I start at the BB next summer. Worth taking or not really gonna add much value?...

10
0
MD-->MBB--> advantage for PE enty

HeHateMe

I'd appreciate your insights on this since many of you are likely more experienced than I am. I'm an MD (medical doctor) with an offer for an associate position at MBB. Will my background as a physician be an advantage if I try to get into PE after doing consulting for some time? Do people know of e...

8
0
Corporate IB @ MM -> PE

monkeyman2010

I usually post on the IB forum but this is probably best suited for the PE guys. I'm a 1st year IB analyst at a MM, in a corporate banking role. my group does basically the same thing as LevFin but for investment grade clients. I know the "typical" PE feeder IB groups are levfin or FS, so I'm wond...

0
0
FIG --> PE

MurdersNExecutions

College junior, looking at summer internships. I've been interested in M&A for the past 1-2 years, and relatively recently after speaking to some people in FIG it caught my interest as well. I think I would enjoy covering banks etc., but I might want to move into PE after my analyst years, and I am ...

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Blackstone/Bright Food - GNC

wamartinu

So whats the financial rationale behind this deal? If this is a strategic play, which I think it is (Bright Food being a strategic), then what would be BX's exit strategy? Its pretty unusual for a strategic to team up with a PE fund since they have opposite plans (PE wants to exit in 3-5 years where...

5
0
repe to corp

bankbankbank

just starting in repe now, fund has a pretty broad mandate (including take privates and buildups of opcos in hospitality etc.) so ive gotten a good balance of exposure to asset level and company level deal work if i want to lateral to a more traditional corp buyout position, do options exist? any p...

3
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startup after undergrad

terrence

working @ a startup w. TOP VC investors........ How does it look for MBA? potential VC? (would be for a finance role, reprots to CFO/CEO..150 people in organization, tech space) ...

7
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Quadrant Management and Alan Quasha - any info on this PE firm?

kanon

Anyone have any details about Quadrant Management and Alan Quasha. I did a google search and Alan has A LOT of sites with some variation of his name like http://www.alanquasha.com/, http://www.alanquasha.org/, http://www.aboutalanquasha.com/, http://www.alanquashaonline.com/ ... and so on. All I g...

2
0
Carrying Value Of A Private Equity Fund

gordongecko

Hi everyone, Newbie question, but indulge me please. How does one go about calculating the carrying value/book value of a private equity fund? Is it based on the expected return of the fund's companies at the exit? Or is it strictly how much money one has put in? How does leverage play into the c...

4
0
PE Summer Internship for interested monkeys!

manbearpig

If you qualify for this, send me a PM and I'll refer you to the relevant contact. "China-Focus PE Internship is a 12-week part time training program (3 days a week). Work in midtown Manhattan (Class A+ building). This non-paid training/intern program available to qualified students, both undergradu...

1
0
GS Infrastructure Investment Group

djkakoc

Does anybody know anything about the Infrastructure Investment Group at GS? They operate under Merchant Banking, so they should be a PE infra fund. Does anyone know how they doing? Recent investments and projects? Exit ops? Any useful information would be appreciated. ...

4
0
Pre-MBA Co-Invest?

bankbankbank

Do analysts / pre-mba associates at majors like BX, silverlake, apollo, carlyle, tpg, KKR etc. have the option to defer a portion / all of their bonus into the general partner pool of the fund? ...

2
0
Highest paying PE firms for IB jumpers

konig

Just wondering, what does a 2nd year IB analyst get paid at a top PE firm? what percent of that is base? bonus?...

31
+1
KKR and RJR Nabisco

manbearpig

Just read Barbarians at the Gate. I know that this was one of the biggest LBOs but I was wondering if anyone knows how it panned out over the next few years, and if KKR made money off of it?...

5
0
Distressed Companies

Clarkey

Hey Guys, Have you any advice on the best way to discover unwanted corporate subsidiaries/ divisions that are looking to be divested by their parent? I'm looking to compile a database of financially/operationally distressed entities that are no longer part of a central strategy and need a starting...

3
0
VC Analyst Opp out of Undergrad

dancemonkey

I need the board's advice on a recent offer I received with a $500 million venture capital fund. The role is for a 1st year analyst, fresh out of undergrad. It is a small firm (6 investment professionals), and top heavy with 4 partners. I would have the opportunity to do a lot of modeling, due dilig...

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0
Lifestyle Shops

highlylevered88

I was wondering if people could name and describe some PE shops ($1B AUM and over) known for very good lifestyles (at least relative to the rest of the industry) and hopefully good returns as well....

7
0
2011 PE Compensation Study - Glocap & Dow Jones

Wangta

Has anybody seen this yet? http://www.dowjones.com/privatemarkets/compensation.asp ...

16
0
RE PE / REIT Acquisitions and the JD/MBA... a match made in heaven?

International Pymp

While I've brought of the prospect of getting a JD/MBA before, I've never really asked you all what you think about it specifically in the context of someone working in and hoping to stay in / move up in megafund REPE or REIB. To me, it seems like real estate lawyers / former real estate lawyers ge...

4
+1
Stress levels: Comparison to IBD, comparison between PEs

ivoteforthatguy

Sorry if this is repetitive, but the answers I have gleaned from Search have been scattershot. I'd like to know how the stress levels compare between IBD and PE on a daily basis. Also, within the PE firms, do some have a worse reputation in slamming their junior people than others? I did SA in IBD...

8
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0
merchant banking / prop investing-> megafund PE?

myblackberryblinks

Hey guys, I'm considering a couple of options now. a generic bb group and a prop investing position of a second tier international bank (think deutsche/RBS/UBS). The prop investing position is basically the merchant banking principal investing arm and invests 50-500mm equity in various industries. ...

2
0
Permal Capital Management

kotham

Hi guys, I was just offered a second round interview with permal capital management... http://www.permalcapital.com/ i was wondering if anyone could perhaps shed some more light on this firm, and what further career opportunities there would be with this kind of experience on my resume. Thanks ...

1
0
fund of private equity funds

abobo316

final rounds for one coming up soon, what should be the main areas of focus you think? Thanks a lot all!...

1
0
Transcript (Not a cheating question!)

gordongecko

Hi everyone, My official transcript only lists cum GPA, which is significantly lower than my major GPA. I listed my Major GPA on my resume (and made it clear that i was listing my MAJOR gpa), however, the official transcript makes no mention of major GPA at all. How would you approach this problem...

6
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What is the diff between partner and md?

MonsterMonkey

Somewhat technical but what is the difference between a partner in a VC or a managing director?...

3
+2
Paying dividend to Buyout firms?

doctortt

Something that I don't understand. Can someone please clarify a bit. I often read articles saying that for example, company ABC is getting a term loan from a BB bank to pay dividend to a buyout firm that acquired company ABC a few years ago. If company ABC doesn't make good profit, why pay dividen...

4
0
Job Search Digest

Marcus_Halberstram

https://www.jobsearchdigest.com/private_equity_jobs/upgrade Has anyone used this site? I always get a list of private equity positions from them in my e-mail and can never view the descriptions because I'm not a "Premium Member" which costs about $80 a quarter. I'm not about to pay for job listin...

4
0
GRP Partners Invests in Financial Technology, Digital Content, ????

BeatStreet

Anyone know anybody that works at GRP Partners? Do they only have offices in LA? Website is pretty sparse. Here is their info: GRP Partners is a venture capital firm focused on investing in financial technology, digital content and distribution, and online business consumer services. Founded in 1...

13
0
VC guys looking to set up shop

Clarkey

Is anyone aware of VC firms that are at the inception stage - i.e. just setting up or trying to set up shop? I'm in my final year of Undergrad and have a full time BB offer after graduation. In the meantime, I want to have a taste of VC. Ideal scenario for me is that I help out some guys who are s...

5
0
Seagate Technology Buyout

Lucy984

Does anyone know in Seagate Technology Buyout how much money Silver Lake borrowed and how much money from their own? What’s the capitalization structure of $2 billion cash for that buyout?...

0
0
PE internship

brightlights

Hey, I am currently a student at a NESCAC school in Maine looking to get more experience on my resume. There are a few small PE funds run out of Portland ME, about 30 minutes away from my school. All of them are small boutique firms with no real internship programs to my knowledge. What would be th...

1
0
Exit Ops: Brand Name vs. Working Under a High Powered MD

Colonel_Sanders

A few questions... #1- You've got someone from GS and someone from BNPP/SocGen, the GS guy gets the types of PE referrals from seniors there as any of his analyst predecessors have. The BNPP guy obviously isn't coming from a top tier bank such as GS/MS, but his recommender is uber-hooked up in the...

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0
MidWest PE Firms

themonkeybandit

Can anyone recommend some midwest pe firms that are growing / expanding, or are just new? ...

9
0
Source Deals for Mega Funds

sodano5

I recently started having a conversation with firm that says they source PE deals for Mega funds like TSG, Summit, DFJ, Warburg etc. Not only do sourcing but also create CIM and Modeling, and conduct due diligence. What are peoples thoughts on these types of firms who work in PE firms or IB? Worth...

3
+1
Blackstone Analyst Salary

jybuao

Hey guys, so I've been wondering about something and hope those in the know can help me clear it up. Blackstone hires pre-MBA associates for 2 yrs who had the 2 yr stint in IBD. Blackstone also hires analysts straight out of undergrad for the 3-yr program. However, by the end of the 3rd year, ...

4
0
Leaving PE

LBO2

Anyone have stories of friends or colleagues leaving their PE position to work for a start up or pursue an entrepreneurial venture?...

2
+1
5 hour in office modeling test

International Pymp

......

14
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LBO=Pure Evil?

Stringer Bell

Please forgive my naivety; but going through some interview prep on LBO's I'm curious if there's any reason for GP's at buyout funds to see their portfolio companies "succeed". Just from experience in DCM, bond performance isn't always necessarily directly proportional to company performance. Alth...

3
0
Morgan Stanley Capital Partners

pacopacopaco595

Does anyone have any info on Morgan Stanley's private equity group? ...

3
0
Transition MM Fund to MBA to Mega Fund

bluebarracuda

I have been working as an analyst at a local private equity shop located in Latin America which basically focuses on mid market investments in the regional market. The fund has a network with larger PE shops due to the fact that it sometimes co invests with larger shops in some deals taking advantag...

3
0
BB IBD -> Megafund PE

BabyBuster

Everyone always says GS/MS/JPM and M&A/LevFin/Sponsors for exits into a megafund after two years. When you take a step back and look at it though, that is a grand total of 8 groups, which is probably about 60 or so analysts a year. So, for everyone else coming from a BB that is not necessarily the ...

6
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If you know PE firms...info for interview!!!!

MCBB687

http://www.portad.com/portad/overview.aspx Portfolio Advisors LLC I have an interview with them coming up (got it through a friend). Obviously they are a PE firm, and appear to be strong, but I've never heard of them, and there's no information regarding them. Check our their website. Please only ...

9
0
I've got some general questions about 'Funds of Funds'

bigpun

Forgive me, but I'm a newbie to finance. I graduated last year with a humanities degree and I'm taking some time off right now to think about grad school/career options (while working a non-finance job on the side). I've done a lot of research online, and I've read some vault career guides (hedge ...

2
0
PE FoF Compensation

bruinmarket

How does the fee structure of a Private Equity Fund of Funds differ from a PE Fund's? What is the compensation at a PE FoF for an associate and VP compared to a PE Fund?...

1
+2
CalPERS Summary of PE Fund Performance

moofasa

Returns data on all of the PE funds that CalPERS has invested in. A huge list that has to be a pretty good snap-shot of the industry and many of the big firms. http://www.calpers.ca.gov/index.jsp?bc=/investments/assets/equities/aim/private-equity-review/aim-perform-review/home.xml...

5
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VC Arms in BBs

weeds499

Does anyone know if any of the BBs, or larger banks have small VC arms? I know like Greenhill has a small early stage fund, but what about like PIA or other PE arms of the larger banks. Do they have any small teams focused on early stage/growth equity type stuff? Thanks, Byron...

2
0
Funds in the Market

skson99

Hi...does anyone have a list of funds (PE, VC, RE, HF) that are currently raising capital globally ? Is there a website that I can refer for such information? Thanks Ganesh...

2
0
Q: Are PE / principal arms of US IBs to be sold or spin off?

lullaby0001

Hi guys, Seems that under the new regulation, all hedge fund / prop trading / special situations / real estates principal arms / desks are to be sold or spin-off, is that right (please correct me if wrong)? My question then comes, how about the principal investment or PE arm of these US banks? Are...

3
0
Top BB NY to Asia PE

tuaj

I'm joining GS/MS IBD in NYC, but I'm from Asia (not China) and want to get back to the region for PE. 1. Is it possible to do your analyst stint in NYC and then go to HK/Singapore PE? 2. I feel like PE isn't as established in Asia as it is in the US (never really heard of a reputable Asian MM PE ...

9
0
RJR Nabisco LBO: financial specifics, entry and exit?

giants92

I've been trying to find KKR's IRR from this LBO. Figured this information would be fairly easy to find, but can anyone point me toward the financial specifics of this transaction (entry, exit)?...

7
+1
Which private equity firms are known for buying Western companies and outsourcing their operations to Asia?

vanckzhu

Just curious. I'm particularly interested in those which outsource operations to China....

2
0
Blackrock Kelso Capital: Info?

Nancrushit

Does anybody know somebody who works at BlackRock Kelso Capital or have any general info. on the place? Thanks...

0
+1
Megafund kids a year

hopefulfuturebanker

How many analysts from banks do megafunds take each year (approximate number for the firm and combined for all megafunds)? Sorry if it's dumb question. ...

5
0
List of things to do first week on the job...

newhorizons

I was hoping some of the experienced members on the board could give me some advice. I'm joining a MM PE firm in the coming days. I have no previous banking/consulting experience. As a matter of fact, I'm joining straight out of undergrad. The firm I'm joining is huge on culture and the second young...

8
0
PE Compliance Role

kcw984

Hi, I'm probably going to get flamed a few times for mentioning PE and Compliance in the same sentence, but here is my question: what kind of compensation can a Compliance professional expect at a top-tier PE firm (Blackstone, KKR, Carlyle, Bain, etc)? How are bonuses (%)? Thanks, kcw984...

0
0
The Junior Sourcing Role in Venture Capital

CaptK

Mark Suster has a new post out today over on his blog Both Sides of the Table. The subject? The ethics of sourcing roles for junior associates at VC firms. I've seen a ton of threads on this forum asking about exit opportunities at places like Summit Partners, TA Associates, TCV, Insight Venture Par...

8
0
PE Internships

newtofinance

I am looking into applying for jobs after finishing a non-econ related master's this year but have no finance skills or experience. Would it be possible to get internships at top private equity firms (e.g. Blackstone, TPG Capital, Carlyle) off cycle without such experience if unpaid? I'm assuming it...

4
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2010 Megafund Pre-MBA Associate Compensation Package

ul8492

I was wondering whether anyone had concrete info on what this year's megafund pre-MBA associate class compensation package was. I've heard that Apollo was 160k salary, 60k signing and 100-150% of salary as bonus. Is this what BX, KKR, TPG, BC, Carlyle etc are paying as well? What about other top-ti...

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