Breaking into NYC PE from APAC

Hey monkeys,
1st year analyst at a BB US bank in APAC. I am interested in breaking into a MF PE shop in New York and was interested in the forums opinion about the best way of doing that.
So far I think my options are:
1. Contact head hunters in America to inform them of my interest
2. Transfer to our New York office once I become an associate and network my way in from there
3. Apply to jobs as I see them on linked in and other employment websites after another (say) year
Any advice on the above or anything else people can think of would be appreciated.
Thanks all

Comments (13)

 
 
Jul 8, 2020 - 9:31pm

Bump - Would appreciate any insights from people within PE especially regarding if an international like myself has any chance of moving directly in without first working in NY.
Thanks

Array
 
Jul 8, 2020 - 9:52pm

I think you won't get a lot of answers from here first because there are probably few people who have made similar moves before - second, you've provided little info about your background, except that you're an analyst in a bank (what do you do there, what market do you focus on, what have you done on the M&A front etc.)

My advice to you is you should think about this from a competitive advantage perspective - what, if any, qualities do you think you have that would put you ahead of many other analysts who have been working in the US markets where transactions both in nature, dynamics and execution are likely pretty different from markets in Asia. If you don't have any, then you should think about building some first.

Also, entirely your choice, but you would only consider the MFs?

 
  • Analyst 2 in IB - Ind
Jul 9, 2020 - 2:04pm

Transfer to NY BB is the only option; even so, I don't see MF PE would be interested in your profile, unless maybe you graduated from H/Y/P. MFs already have hundreds of qualified candidates just in the US and they don't need to look further into Asia. If you are "local" Chinese without any US education, it will highly likely to not be a "cultural fit"

 
Jul 10, 2020 - 11:40pm

Two pre-requisite requirements:
1. Are you a U.S. Citizen?
2. Did you attend a target school?

If so, the best only real path is as follows:
1. As soon as possible, transfer to the NY office of your BB - it's been done, although you absolutely need to be a U.S. Citizen - current market environment doesn't help either. You absolutely need to transfer as an analyst - associate is too late.
2. As soon as you are in NY, you can reach out to HH and try to get in on the PE recruiting process. It'll be a slog - but it's not impossible.

At the same time, I would not go through all of this with the hopes of making it to a UMM/MF PE firm. Chances are low in the scheme of things so if there is a compelling reason you took the Asia offer in the first place (e.g., family considerations), I'd just stay there.

 
Aug 2, 2020 - 9:13am

Thanks for the responses all.
To provide some additional info I am born and bred in Australia. I work in the Financial Sponsors Group and focus on the Australian markets.
In terms of transferring to the US and being an American citizen, that's just wrong. Especially given the CEO of MS in an Aussie,
I probably should also consider MM funds as well, however given those funds don't have an international profile I don't have as much information on then.
From a process perspective, they are very similar in both jurisdictions and believe it or not, our Australian uni's match it with the best in the world.
Understand it is going to be an uphill slog so I appreciate all the responses

Array
 
Aug 2, 2020 - 5:29pm

westerner666:

Thanks for the responses all.
To provide some additional info I am born and bred in Australia. I work in the Financial Sponsors Group and focus on the Australian markets.
In terms of transferring to the US and being an American citizen, that's just wrong. Especially given the CEO of MS in an Aussie,
I probably should also consider MM funds as well, however given those funds don't have an international profile I don't have as much information on then.
From a process perspective, they are very similar in both jurisdictions and believe it or not, our Australian uni's match it with the best in the world.
Understand it is going to be an uphill slog so I appreciate all the responses

If you are going to be rude / condescending to people giving advice then stay in Australia /APAC.

But on topic, responding to your question, noted your on E3 so visa won't be a huge issue. I'd reach out to PE professionals in NY / Boston with Australian educations (decent contingent at Baincap). Can run LinkedIn searches by firm / UNSW, UMelbourne, USydney, and UQ and find a decent amount of people. If you are open to Infra, y'all run a bunch of funds and groups in that space in the US.

 
Aug 2, 2020 - 8:25pm

Sorry if it come across like that mate, the initial responses were just overly pessimistic.
Haha I don't expect them all to rush down here to find their next leader, I'm just saying that saying you need to be a US citizen is incorrect (given if I was from China it might be a different issue). Oh and he became a dual citizen like last year...
Definitely agree on the infra front, Macquarie in particular are huge over there. Am working on a few things in the infra space recently however and it isn't really the place I want to be for a variety of reasons.

Array
 
Aug 2, 2020 - 7:15pm

OverlyAdjustedEBITDA:

Just because James Gorman is Aussie doesn't mean every U.S. bank is going to rush to Australia to recruit in hopes of finding its next leader. Also he is a dual citizen...

Agreed that it's not a plus in recruiting. Slight detraction because (1) firms still need to know how to process the visa and OPs search may need to be focused on larger shops and (2) still need to leave the country for weeks at a time to get the visa.

At the present though, Aussie is next best thing to US citizen / green card holder for visa purposes since they aren't in the H1B lottery and it's an extremely cheap process. There's V5 law firms in NYC that run Australian specific recruiter searches when they can't get experienced warm bodies for their churn and burn teams.

 
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Aug 3, 2020 - 12:50am
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