HELP: How to prepare for PE internship (growth equity) Will give SB.

Hey WSO,

My internship starts in a week. I am about to begin my internship at a very, very big dick fund. A lot of their interns are extremely talented (pedigree, ambition, etc) so I REALLY don't want to seem like a putz. I am not looking to impress, but I want to be able to hit the ground running as the provisional internship period is only 1 month - they won't have time to give us structured training. If I perform well I could probably turn this into a full 3 months. Could WSO direct me to some resources as to how to prepare for this?

What I know:
Very large and successful fund that has heavy focus on research. They don't do buyouts AFAIK, and mostly do growth equity at series B/C stage (isn't this basically VC?) They are very, very, long term investors. Focus on TMT, healthcare, industrials, and consumer sectors. They made a number of insanely good bets, and they say their special sauce is basically the quality of their research.

What are the basic finance things I would be expected to know/do in this position? My knowledge is limited to the one semester intro to corporate finance class that is pretty much the same at all colleges: I know the bare basics for DCF, like NPV/IRR, WACC, OCF, etc.

Someone please point me in the right direction! I will give out SB.

Thank you.

 

Learn all the terminology so you know what's going on. Vocabulary is key. Spend a couple days on Google learning as much as you can about PE. Also, when given any marketing materials, memoranda, models, etc. make sure you actually take a look at the contents of the deals. Ask your coworkers about deals that interest you.

 

Did you cold-call the PE firm? Also, how much time do they expect you to devote? Are you taking a full course-load (10 courses)?

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.
 
mhurricane:
Did you cold-call the PE firm? Also, how much time do they expect you to devote? Are you taking a full course-load (10 courses)?

Find me one person that takes 10 courses a semester and I'll buy you a drink.

 

10 courses during the year, 5 + 5.

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.
 

mhurricane - Yes, I am taking 5 classes for the semester that I'm interning w/ them. Yes, I cold-called them. We sort of agreed upon about 25hrs/week at max, so not bad...besides, it'll be really interesting stuff.

"Respect others in their view, and demand that they respect yours. Love your life, perfect your life, beautify all things in your life."
 

Disclaimer: I am not in PE and really don't know much about PE

I am sure the firm realizes that as a freshman you really don't know much so I would learn as much about the PE process and how it works as you can. They shouldn't expect you to do any hardcore modeling or anything really advanced. If you come in with a good general set of knowledge I think you will get a lot more out of it.

 

Read some Vault guides (i.e. finance interviews, IB, AM, etc...), talk to people in the industry if they have the time/inclination, read damodoran as was said, listen to some Tony Robbins.

What did the people at the firm tell you re your duties/responsibilities? How did you "somehow luck your way into" this PE internship?

"Categorical Imperative: If I cannot look at my mother or my wife in the eyes and explain it, I won't do it" - Some British MD.

Omnis assumenda rerum et ipsam sit eum ullam. Officia quo ut quo autem nesciunt quaerat dolore.

Ducimus et expedita quia similique rerum hic fugit doloremque. Saepe similique quia deleniti aut dolor dicta. Sed perferendis et ea suscipit praesentium aliquid inventore. Illo aliquam mollitia dolore sequi. Rerum est sint pariatur dolor aut. Vel dolores sequi dolore facilis porro qui. Explicabo itaque magnam autem quasi et est nisi.

Cum cupiditate facere et. Et cupiditate consequatur cupiditate doloremque ut. Nesciunt ea molestiae aspernatur expedita dolor autem assumenda.

Asperiores minima ipsa sed blanditiis illum quia qui. Quidem fugit qui illum sit sunt dolore corporis. Dignissimos non qui voluptas sunt natus corporis.

Career Advancement Opportunities

June 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 16 97.1%

Overall Employee Satisfaction

June 2024 Investment Banking

  • Harris Williams & Co. 19 99.4%
  • Lazard Freres 06 98.9%
  • JPMorgan Chase 09 98.3%
  • William Blair 03 97.7%
  • Morgan Stanley 04 97.1%

Professional Growth Opportunities

June 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 05 97.1%

Total Avg Compensation

June 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (22) $375
  • Associates (94) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (69) $168
  • 1st Year Analyst (207) $159
  • Intern/Summer Analyst (151) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”