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+37
Reading List for Intellectual Killers

Elite_Bulge

Recently there was a thread on what books one should read to assist in the development of a successful career in finance. I strongly believe in balancing your library with pure "finance books", pleasure reads, and classics, with a strong bias towards the classics. You will learn about...

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+23
Private Equity Resume Template - Official WSO CV Example

WallStreetOasis.com

<h4>Attached to the bottom of this post, you will find the Wall Street Oasis private equity resume template for experienced professionals, used by the WSO paid service and thousands of candidates to successfully land a job in private equity.</h4> For those of you with deal or...

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+21
Developing the "It Factor" as You Progress in Career - What Puts High Performers on Another Level?

Pro Forma

Something I've been thinking a lot about recently is if I have (or if I can develop) the mental "it factor" that I see among so many of the top VPs, Principals, and Partners at my firm and others. I'm not talking about internal drive or ability to multiply three digit numbers...

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+1
Portag3 Ventures Toronto?

dbcr98989

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+2
Venture Capital Canada

dbcr98989

anybody knows any good VC shops in Canada beside VC arms of pension funds ? firms like real ventures, extreme venture partners and etc. Thanks!...

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+35
The Promised Land of Private Equity Turned out to be a "Monster Land"

Pantera

I spent 3 years in bulge bracket bank covering awesome tech companies. Banking was great for me can't complain much. The culture in my group was amazing, the people I worked with were fantastic. Lots of social events, group lunch breaks and coffee chats. But like everyone else I was trying to swit...

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+3
PE Recruiting: Deciding what firm is the best fit

DiamondsDancing

Hey everyone, As PE recruiting chugs along, I was wondering how you decided what firm was right for you. I know that it can be extremely beneficial to go into HH talks and the PE interviews themselves with a clear, concise, and confident answer for why this firm / space. I am kind of struggling t...

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+1
BX/Celanese Deal

wafflefried

hear a ton about this deal. why was it a great/symbolic deal? ...

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+3
VC/Tech PE Opps: Non Technical PM at GOOG/FB

mike ross

Hi guys, Just landed a gig at a tech company as a product manager (will finish undergrad april 2019) With recruiting schedules crazily pushed up, I was wondering if recruiting for VC or Tech PE would be possible from my position, and if anyone had any advice on how to best approach the process (a...

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+2
Tech fundraising - series 7

bobste

Hello, For people interested in pre ipo financing for a tech startup that requires a series 7 what is the typical approach. Obviously it would not be typical broker deal sponsoring as they are not going to be working for a broker dealer. I understand many already are active. For those that have no...

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+4
Does Starting Banking Early Help with PE Recruiting?

ImmaYieldGuy

Hi, everyone. I am graduating from undergrad early this December and have been asked by my bank if I would consider starting early because of deal flow. Would you recommend that I keep my travel plans or start working before the rest of my class? With on-cycle PE recruiting moving sooner and sooner ...

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+3
Growth Equity in 2017 - can you really learn valuable / transferable skills?

exlurker

All the growth equity threads are outdated and I was hoping to get more current insight about these types of shops. Specifically: - what types of transferable skills do you learn (is it just limited to sourcing opportunities) - compensation for 1st and 2nd year associates (base / bonus) - what do p...

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+2
Venture capital vs corporate development exit opportunities

needs_advice

I'm a junior investment banker who's currently trying to decide between an exit opportunity in the corporate development & strategy team at a F500 financial services firm (modelling, strategic projects, M&A) or an analyst role in a small VC (sourcing, modelling, due diligence). Both have small, entr...

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+1
MM PE Analyst Interview Prep. Full blown out 3 statement LBO?

Chicago60007

Hey everyone, have seen great advice posted on here so would love to get some. I may have an interview with a MM PE firm as a PE analyst. Was wondering what kind of interview (behavioral and technical) questions I should prepare for. I got the WSO PE interview prep which is very thorough, but was w...

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+2
PE Firms with FT Analyst Programs

ThrowawayAcct2

Hey guys, I've done 2 summers in IB at a BB and am interested in doing PE FT. I've heard mixed things about some PE firms hiring FT but I was wondering if anyone had a list of firms with Analyst programs, aside from Bx/Silverlake/Vista/WP/GA/Ares?...

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+2
27 year old 1st Year Analyst at Elite Boutique - Shot at PE?

jnaz

Hi all, I have a unique opportunity / dilemma after a roller coaster of a career. Summary - I have an offer at an Elite Boutique (Evercore, Moelis, PJT) for a lateral analyst role but will be coming in as a first year analyst. It's an amazing opportunity. However, for reasons I'll explain below, ...

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+70
STOP obsessing about windows to jump thru for PE!!!

earthwalker7

Starting my rant.... I just got asked about career planning for the move from IBD to PE, yet again. I've a lot of sympathy for my fellow WSOers, really I do. But I've got to tell you stop obsessing about windows to jump to the buyside. Everyone always has some "rule" they'be heard of. Let me l...

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+4
Hours/Pay at MM Unitranche Credit Funds?

ebit_dab

What are average hours for Associates at middle market credit shops like Golub, Monroe, GS BDC? Average comp would be great too, for all levels from associate to MD. ...

7
+1
Direct Lending Shops with analyst programs?

Buyside Monkey34

Curious to see which DL shops have analyst programs that recruit out of undergrad or after a year of banking (BDC and non-BDC). I know of a few such as Antares, Crescent Capital, Varagon, Medley Management, Maranon Capital, etc. Does anyone have a comprehensive list?...

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+7
2020 On-Cycle PE Placement

PE123456

If anyone has the info.. how did banks or groups across the street place during the on-cycle sprint that happened during the past week ?...

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+1
Renegotiating comp after signing?

pptjuice

Signed a offer at a PE fund early this year for 2019. Didn't negotiate at all, and just signed because I was so excited and they were excited about me. Now I'm starting to realize I was a little bit low-balled compared to other comparable funds (didn't even ask for a signing bonus). Is it OK to try ...

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+4
How are Booth, Kellogg, and Columbia for Post-MBA PE?

temporairypemonkey

Currently in my third year at a MM PE firm and gearing up for round 2 applications. I accept that my GPA/GMAT make HSW a longshot, but I think I have a decent chance at the rest of the M7. Not sure if there's a path for me going forward at my current firm, but if I do end up recruiting what is the P...

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+1
[Castanea Partners] Any insight or inside information?

Blow

I'm interested in branded consumer products private equity, and was wondering if anyone has heard of or worked with Castanea Partners. From the site, it looks like they are investing out of a $600m fourth fund alongside a $135m coinvestment vehicle, and have investments in small to middle market foo...

2
+1
2020 PE Off-Cycle?

StructuredFlow

Given the early timing of PE recruitment this year (2020 process), have we officially entered the off-cycle? If so, what types of PE firms will look to recruit before the end of the year? There had been discussions on some other threads that some MF, Upper MM, and MM funds would be leaving some slot...

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+14
How to Diligence Firm Culture / Determine Fit (Post-MBA / After 2-Year Program)

Pro Forma

Hi all - Wanted to get some perspective / insight from some of the more senior / tenured WSO members on something I have been trying to figure out for a while. Come this summer I'll be rolling off of my associate program at an upper middle market PE shop (household name). I'm planning to apply R2 ...

7
+1
Investment & Money Management

imm_uk

Contact us: Address:16 Chatsworth Road, Ealing, London, W5 3DB, United Kingdom. I am scouting for potential investment partners, we are Investment & Money Management consulting firm. I represent a client with an investment Capital of $1.8 Billion to partner with corporate firms (Small, Medium and ...

1
+1
Cinven Assessment Day

jkt30

Just been invited for an Assessment Day at their London office. Position is for a 6-month off-cycle internship. Would kindly appreciate anyone who has previously been involved in the process to detail what type of case study it may be? Would it be along the lines of a 3-statement model / DCF? Or jus...

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+5
Signal Hill Equity Partners - Comments? Currently interviewing for Associate role

John-Chen12345

Anyone worked at Signal Hill Equity Partners before? Currently interviewing for PE Associate role. Appreciate any inputs around this fund/opps. It's a Toronto based PE shop. Heard around Bay street this place is going under. So unsure if it's worthwhile to quit my IB gig for this one. Anyone has an...

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+1
Any insights on Global Environment Fund?

kakerot

Hi guys, Any opinion on GEF? I have been with a Domestic front end IB in the Tech team for over 2 years. The deal flow hasn't been that great although the bank is very reputed on the Street for the overall IB practice. Will be joining GEF in 2 weeks time. Would be great if you could share your pers...

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0
Tinicum

throwaway111

Don't hear much about these guys but they seem to have a pretty big fund ($1.5 billion from what I've heard). Anyone know about them?...

4
+1
atl vs dal

mariota96

I have job offers from two mid-market firms, one in Atlanta, the other in Dallas. I was wondering if yall had any insight into the lifestyles in either city. Thanks...

2
+1
Lateraling to Growth Equity

Frodo's Banging

Do you know of people who have lateraled to Growth Equity shops like Insight Venture Partners, Lead Edge Capital, TA, Summit? Interested in making the move, but recently got referred to a similar fund and got an automatic rejection. Curious to see if people have done it in the past...

1
+151
From Private Equity Associate to VP in Private Equity

labanker

There's a perception of people on the street that private equity is the cream of the crop. The hours, the pay, the beloved carry, the work itself - is it all greener grass syndrome? Not quite, private equity is pretty awesome by most standards; that's why becoming a private equity associate is ten t...

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0
Pomona Capital

M_As_In_Mancy

Anyone have any information on them? Seems to be one of the early players in the secondaries market. Curious if anyone has done a deal with them / worked there...

2
+1
Has Anyone used Zirra.com for company analysis?

roee

Has Anyone used Zirra for company analysis? Looking for a Pitchbook alternative to conduct company research...

1
+4
Private Equity Reference Check

pehopeful124

Hi everyone, I just had a final round interview for an associate role at a PE fund. I thought it went overall pretty well, however there were other candidates (who I'm sure also did just as well) but regardless I am hopeful that I will land the job and be finished with this process. My dilemma howe...

10
+3
Consulting to PE with market/commercial due diligence experience

Duediljack

I'm currently an associate with a boutique strategy consulting firm that specializes in market due diligence, serving primarily mid-market PE shops. I have been with the firm for about 1.5 years after graduating with a Bachelors degree in finance from a non-target (Miami of Ohio). I took the job ma...

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+2
MM Private Equity in NY

thenewnew112

What are the best MM Private Equity shops in New York? Would be helpful if anyone could comment on the below names in terms of prestige/culture/comp and also offer some new names. Some firm I've heard of: Lindsey Goldberg, American Securities, Vestar, Towerbrook, Tinicum, Crestview, Kelso. ...

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+1
Blackstone Real Estate Acquisition Off-cycle

blaircheng2013

hi guys anyone received any feedback from Blackstone about the real estate acquisition off-cycle internship in London thanks!!! ...

1
+6
Advice Please! Growth Equity Interview Questions?

BankingWaffle

So I just got notified that I've been invited to interview at a top tier growth equity firm, and the opportunity just sounds absolutely amazing so I'm desperate to land the position. If someone currently at a growth equity fund wouldn't mind elaborating on the interview process, I'd be forever grat...

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+1
axel johnson

sabster123

anyone have any information about axel johnson? it's a pe firm based in new york with offices in europe....

1
+1
Harvard Business School Case Study

centermvp

Hi all, I am having an interview with a boutique style P/E fund and one component of the interview is to review a 30 page HBS case study and have a discussion about it... What could this mean? It will be done via video link so I am assuming there will be no modeling... Thanks!...

1
+1
Career Path: From Family Office + Financial Advisory to Where?

lottelottelotte

Throwing this here because at my wit's end. I work at a FO analysing early stage deals and raising funds for approved projects. We are sector agnostic so I am spread too thin over too many industries. I want to focus on one thing - either (1) real estate or (2) private banking. How do I choose whi...

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+1
HPS Reputation

F1

Hi All, I'm new to the credit investing space and I came across an opportunity at HPS in NY. The role is for an Associate in their Mezzanine Fund. What is the firm's general reputation in the market? If you can give some color on their Mezzanine group that would be very helpful as well. Thank yo...

1
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+4
Antares Capital

biggsy

Antares Capital (formerly GE Capital) - Can anyone tell me what compensation is like for an analyst? LIfestyle? Trajectory within the group? Exit ops? Thanks!...

24
+8
AMA: Analyst --> Associate at a VC / Growth Equity Firm

ilc22

AMA: what its like in software VC / growth equity, to source deals, suck at it and do it again and again....

24
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+161
My Private Equity Recruiting Process

Candor

I am about 3 weeks removed from receiving three PE offers (from MFs and top MM firms), both elated and relieved to be done with such a crazy process. I saw that another user commented saying he’d do a write-up about his experience going through the recruiting process and figured I’d wait to writ...

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+3
Business Development at a Unicorn --> VC?

chipopo

Hey monkeys, Curious about whether or not I'd be limiting my career path if I take a business development role at a tech unicorn (~$3bn company). I've been in banking at a BB for about a year and a half and eventually want to get into a VC role or a corporate strategy role at a big tech / media com...

6
+3
2020 PE Recruiting for Non-Targets

johnnybanks1

Curious as to how the early process affected analysts coming from non target schools. Can anyone share their experience or what they saw from peers?...

5
+1
From Corporate to Private Equity: Pick a team

technocrat

**Not all PE Associates come from Banking/Consulting. Most did. But not all.** What roles within corporate America (NOT Investment Banking/Management Consulting firms) provide a recent grad with the background needed to land an interview at a private equity fund? For example; I have seen/have met...

1
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+2
TPG Growth Group

friendofafriend

I have heard a lot about how elite TPG growth is but I can't seem to find any information on the growth equity part of the group? What is it like? How do you enter it? Do they follow a bottom up sourcing model like Summit Partners? Anything about TPG Growth at all would be great to hear...

13
0
Cold Calling / Sourcing Deals for PE Shop

WestCoastDeveloper

Ive seen some posts on this from a few years back, but wanted to see if I could get some updated info on it. Their are a number of PE Shops looking to hire 'Business Development Associates" to source / cold call 80% of the time. From someone with a non traditional background, would a job like this...

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+3
Is this legal?

Ivan Boesky

Hi WSO! Question about PE/VC. I am wondering of the legality of this scenario: a VC fund taking a stake in a legitimate startup that is truly a good investment in their opinion, then one of the GPs of the fund buys a stake in a public company with his own capital and gets management to acquire the c...

9
+1
Private Equity Analyst

Goldman's Sack

Hello Monkeys, So I will summering at a UMM P/E fund and would like to be as ready as possible to hit the desk. I have no investment banking background (many of the people at the firm do, however), does anyone have any good reading materials, news sources, general advice? I would really like to not...

1
+6
Preparing for the buyside

bradyfanatic

Hello, I am currently a consultant (MBB) and have accepted an offer to join as a Pre-MBA associate for a lower middle market PE fund next summer. What do you you think is the best way to prepare for the modeling component for my new job? Since I am a consultant, this is what worries me the most; ...

17
+1
IB vs PE out of Undergrad

FinFTW

Hey guys, Was thinking about the pros/cons of hypothetically taking an IB role at a big bank vs taking a PE role at a MM firm. For most, the objective is to get to the buy-side after having a couple years (2-3) of experience on the sell-side. However, what if you were offered a buy-side role straig...

1
+1
Pro forma balance sheet in LBO model test?

sffinance321

If the exam is say about an hour, how necessary is the pro forma balance sheet with the balance sheet checking out at the end you think? If this isn't built out, would this ding you?...

3
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+3
Direct Lending + Mezz to distressed debt or special situations?

Buyside Monkey34

Curious as to others opinions and the community’s consensus but is it possible to move from a direct lending/mezz shop like a Ares, Golub, Varagon, PennantPark, Maranon, or THL credit that can invest up and down the capital structure to a special situations or distressed debt fund? ...

4
+2
Waiting a year to recruit for PE

markiv199

Hi Guys, What are the opinions on waiting a year to bulk up your deal experience before making the jump to private equity? I've heard from senior partners at some megafunds that recruiting has been pushed back so far that the guys are coming in way too green, but is it okay to work at your desk for...

8
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+1
Preparing for Off-Cycle Recruiting

Kristaps Porzingis

Hi all, Just wondering if there is anyone who has gone through off cycle Associate recruiting that could comment on the difference in preparation between on and off cycle and what those interview processes generally look like (as compared to the hectic on cycle single-day interviews). It looks like...

1
+3
Family Offices Lifestyle

TouchedbyYou

This has been covered in some length, but thoughts on joining a family office reporting to the CIO. General progression in title, pay, skill set? Hours? Networking? Low Key family office, hard to find deal info. Would also do portfolio (stock) allocation. Real Estate arm too. $2-6B in AUM No...

3
+5
Will PE Start Hiring College Seniors?

ColdCaller

PE recruiting keeps on getting earlier each and every year. [https://outline.com/884yqd](https://outline.com/884yqd) It's crazy that private equity firms are recruiting investment bankers who are just **weeks** into their jobs. Mr. Curtis even shared his opinion in the article and thinks that PE ...

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+1
If you have Enterprise Value and Cash, how do you figure out transaction value?

cthegr8

For paper LBO, let's say you hypothetically have enterprise value = 100 and cash = 50, what is the purchase price? Assume no debt Assuming you get nothing else for the paper LBO, do you just assume equity value of 150? Equity Value 150 - 50 cash = 100 Enterprise value?...

4
+3
Comp at MF, Top MM, MM, lower MM

Antiaverage

How does comp vary across the different buckets of PE firms? Bit curious here. How would KKR, Warburg comp compared to Marlin, how do smaller MMs comp?...

8
+6
Private Debt/Direct Lending Exit Opps?

Anonymous Monkey

Where do the majority of direct lending/mezz investment professionals go following their stint at their respective firms? Can they go to credit hedge funds or distressed debt funds? If anyone has any firsthand experience or know of others who have made the jump would love to hear ...

14
+1
Impact Fund

b-y

Hi, Does anyone have had any experience with the impact funds? (KKR, Bain, TPG, Hamilton Lane, LGT Impact etc.). Curious to understand recruiting process, experience & exposure, exit, business school's perception, how different it is to LBO / growth equity style etc. Any input would be helpful. "T...

3
+1
Bain Capital Interview

cthegr8

Tips on the Bain Capital interview? I know it's consulting style cases but what should I prepare for specifically?...

3
+12
Re - Lifestyle in Private Equity (lower mid to mid market space)

Dingdong08

Mod Note (Andy): This recent comment by 2015 member of the year @Dingdong08" from the thread "Long-term PE - Lifestyle" is so insightful (10 silver bananas) that I decided it deserves its own spot on the front page. Read on and enjoy monkeys: I can't speak specifically on mid to large funds but I'...

6
+1
short cut to LBO model

vanggoo

I found a post saying there is a shortcut to LBO model: 1)make assumptions on the net change in working capital rather than looking at each item on balance sheet 2) need some form of Income statement to track how the debt balance change 3) need some type of cash flow statement to see how much cash i...

2
+1
Reaching out to a firm that previously passed you on

nightowl777

Hi guys, current first year IB analyst here. I recently interviewed off-cycle with a really compelling ESG-oriented PE that had mostly hired associates in previous years of processes. I'm on a small team and was completely jammed with a deal when the modeling test came due. As a result, I had to tu...

3
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+1
AIMCo Private Equity SA interview in Toronto

berkshirehathaway888

anybody been through AIMco's private equity SA interview process ? Mind sharing what they ask you and tips. Thanks!...

3
+1
Pamplona Capital Management

Throwaway 123

Any info people can share on Pamplona? Have heard rumors that people are leaving the firm, risk of their single investor leaving, etc. Any information would be much appreciated!...

1
+3
What are the indicators of a good management team?

undergradhardo

Hi! I have been doing some networking with different PE firms, both big and small, and have always asked what their specific firm's evaluation of a target company consists of. Most of the time, I am told that management teams are the most important because they ultimately decide the vitality of the ...

4
0
Golden Gate Capital culture and performance

veronica456

Hi all, Posting for a friend: What is the culture / work environment and career progression at Golden Gate Capital compared to other MM PE firms? How would you rank its performance (and reputation) relative to other top MM firms -- places like H&F, Advent, FFL, Berkshire, New Mountain Capital, etc?...

10
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Question Regarding Using Work Laptop for Case Studies

bsong92

Hello, I just had a quick question - Is it okay to use work laptop for case studies? I've heard HR or compliance may check in pretty regularly, but was wondering as long as it is not work related, (or contains client information), is it fine (mainly because my personal laptop is so slow) For examp...

1
+1
Energy / Oil & Gas Focused US-Based PE Firms (Reputation, Insights, Etc.)

r2d2_

With recruiting kicking off soon, I was looking for any up-to-date / anectodal insights into US-based energy (particularly oil & gas) focused private equity firms. I've done my research based on older topics on this board but wanted to see if anyone had more recent information given the downturn, an...

5
+1
Crossover funds

SCZealot

I'm getting more and more interested in crossover funds - funds like Crosslink Capital that invest in both venture capital / growth stage companies as well as public markets. Does anyone have a solid of these firms? I know there are firms like Coatue and Tiger that do both, but aren't sure if the ...

1
+2
Macquarie Capital - Principal Investing

simon2318

Anyone have insight into this group? Particularly concerned with industry focus, recent transactions, culture, position within the larger org, etc. Thanks in advance!...

8
+3
Add on acquisitions in LBO

sffinance321

how would one model out add-on acquisitions in an LBO? If you wanted to consolidate a local player in the 3rd or 4th year, how would that flow through the LBO correctly and how would I make that accretive to boost returns?...

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