Arma Partners London - Current insights and exits

Hey guys, received an offer to join Arma Partners as an intern. I heard that they have a good reputation in London, excellent TMT dealflow and a tough culture. Does someone have current insights regarding these facts?

I have a prior internship experience at a smaller Tech boutique (Stella EOC, GP Bullhound, Clipperton) and want to exit to Growth Equity after my IB stint. Is it possible to find a decent GE internship after my Arma time and convert that to a full-time analyst position? If not, will I get looks from BB/EB recruiters for OC internships?

Thanks for all your help!

Comments (10)

 
Jan 11, 2021 - 5:19am

Great dealflow and reputation. Do have a tough culture and quite high turnover at the junior level but if it is an internship what do you have to loose? They do quite a bit of growth raises also.

 
Jan 11, 2021 - 6:34am

Of course absolut irrelevant from a PE recruiting point of view and any other external exit .. but are good in small - mid cap I guess if one likes it and as it is just an internship to build your CV I would go for it although it is better given you have done several of those small m&a boutique internships already to try for a bigger name finally instead of going for your 3rd or 4th no name internship

 
Jan 11, 2021 - 7:28am

I thnik I may have already posted something similar on here so maybe try to find it using the search tool/google. 

In any case Arma is a great shop (dealflow wise - by definitions hours will be shit if you have a good dealflow), the do 2 things: 1) Sell sides - mostly (they used to only do that) for PE owned assets but have also now done some stuff with public companies 2) Grow equity fundraise - Series C/D/E/whatever - typically 50m+.

If you think about the skillset you build it's 1) build a CIM, 2) run a tight process to increase valuation as much as possible and that's it. For sell sides, PE funds in midcap will not have 20 different considerations they will pretty much always take the highest bid for them, for Growth Equity - not too sure I have not been on the sell side doing this but I would assume that it's a mix of who's investing (ie what can they add in terms of value to us - relationships, possible sale ie Corpo VC etc) and valuation (founders will likely not want to be diluted too much).

Now knowing this you can understand or at least get a sense on what skillset you build which is different to the one you would build at an EB and especially at a BB where you can help with capital markets access etc. Arma can be a good first step into IB - in fact I know few people who went to BBs/EBs after few years at Arma. Now if you want to exist ASAP to the buyside for large cap PE/HF Arma is probably not the best place. For VCs - most will know the name and you should be able to exist there given that what matters for VC is your network and proximity to them rather than a defined skillset.

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