Any ideas on how these stack up in terms of reputation/culture/exit opps/any other factors?
Thanks
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TF failed to raise a new fund recently so good luck with that one....
Someone did mention he would try to hit market again sometime in the future, but I may have misheard. Obviously EMI was a huge mess and now the Four Seasons deal as well. 3i has had to reduce its global activities and go back to its core business and Blackstone is a machine.
What is that you want to do? PE direct will probably be a more direct route to other PE and other buyside investing (MF, HF - more on the L/S, Event Driven side), since you'll have already had that training and be exposed to how these guys think, rather than banking where your skills are excel and powerpoint, like everyone else.
But maybe you want to sit on the sell side (some people like selling more and that's fine) or move around within a bank and move to trading/research or something instead.
You have to think about what you want. All jobs have exit opps, they are just different but often limited nonetheless.
Good Luck
If I were you in terms of the PE roles, if that is what you are focused on, only go for BX. The Terra Firma one was something I looked into also, but it is a rotation scheme and you end up rotating between a load of different functions which aren't necessarily what you want to be doing (IR, finance, operations etc. as well as investing). Having said this, I do know one friend who joined on the grad scheme and has since secured a FT associate role in the investment team. I don't know how sustainable or possible this is going forward.
Barclays, Rothschild and Lazard are all fairly strong, some teams more so than others.
Personally if I was in your shoes, assuming you have offers from all and you are not 100% set on a career in PE, I would take one of the bank roles, but continually network with those you know from BX, 3i and TF so that you could potentially move there once you have developed greater skills. If you are however set on PE as I was in your shoes then BX would be the one to go for.
n/a
You should closely look into how the PE grad programs will give you exposure to the investing side, if that's what you're looking for. If you spend a lot of time in different roles, the question will be whether you get an investor skill set or more of an investment managemen skill set. Both are fine but in the latter case, taking the IB route would probably give you a better shot. Also because it's the traditional route.
I think what everyone here is forgetting is that in the PE roles that you will have DIRECT access to top people at the shops, or at least decision makers since some of these places aren't that huge. Now at some firms they will absolutely not let you move around. But in other places if you work hard, do well, put you head down and are well liked you will be seen as a much much lower risk than some random kid coming from a bank (ie. may be an excel/ppt whiz but will they fit in? will they even care?)
Versus a bank. Yes its traditional. Yes its a great skillset. BUT you will be amongst tons of other people fighting for the same position at some PE firm. You'll have to network and make an effort, but I am sure you will bump into the guys in the hall/coffee room etc and you can intro yourself, work hard, do well and ASK...
Good Luck
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