cold call the Head of PE?
I'm a 3rd year IBD analyst at a small boutique. I've been recruiting for PE pretty much since I started IBD and I've had no luck. I've tried cold emailing, headhunters, and applying for every role I see but I always get rejected. Feedback received from headhunters is that my bank was not reputable enough. I've tried cold emailing analysts/associates but no one replies.
I've just seen a PE fund in my area that posted they're looking for an analyst to join their team. I've applied but not heard back and I've tried cold messaging the HR that posted it but I received no response. I also tried cold messaging an associate on the team on Linkedin but I got no response. I don't blame them, it's Christmas and they probably just cba and want to enjoy the break.
I've gone onto the fund's website and it shows the head / founding partner's phone number on the website. I assume this will be his personal assistant's line, but they are a small team (10 people) so perhaps it is his real direct number.
Would it be extremely inappropriate for me, an IBD analyst, to cold call his number and say that I'm interested in joining his team and if I could introduce myself or if it ends up being his personal assistant to ask if they could forward my CV onto him or someone in the team to see if they would be interested? Would this be something that comes across as proactive or would this be extremely inappropriate and get told by him to f*** off and never use his line again. I assume the only reason his number is there is for LPs to contact him about potentially investing into the fund or for potential acquisition opportunities etc.
I’d try a cold email first.
I tried cold messaging both the HR advertising the role and also an associate in the team but got no responses. Unfortunately, the head does not advertise his email on the page, just his number which I assume is his personal assistants. Do you think it would be worth giving it a call?
Can you guess the email format based on other emails? You can also guess using online email validation sites. If not, probably can’t hurt to cold call
Do it what do you have to lose
Where is your boutique located?
Cold calling the head of PE at an assumedly reputable PE shop in your market is a great way to get fired by your boutique.
There is a pretty good chance that this guy is probably on a first name basis with whomever the BSD at your firm is. Finance can be very small especially in regional markets. If he doesn't know anyone at the firm, you run into the other issue of him not knowing the firm.
If this is a large market - maybe less risk.
Thanks for the reply. I never thought about that but good point! Luckily the PE focus is a different sector to my team so it is highly unlikely they have any relation with my MDs. I think the most likely scenario is they have never heard of my firm. Which is why I want to try cold call as my application will just be ignored otherwise as I don't have the brand reputation on my CV to gain attention sadly.
What are your thoughts with this in mind?
What is the real story here? That you've sent out countless resumes, have had headhunter interactions, and the conclusion is that you're not getting anything over the line is because your boutique is not well known enough...? Have you gotten any interviews at all? The interviews you have gotten, how did they go? Are you chalking those non-conversions up to the boutique visibility thing as well? Sorry, I'm not sure I buy it and I think there might be something else going on. How is your resume? How is your deal experience, can you articulate it well enough? Do you have sufficient modeling experience at your current job? I would guess there is something else going on here which is playing a factor you're not being forward about. I have also come from a smaller firm that some people didn't know about? How are you answering that question? For me, it was a simple "XYZ firm was founded in XYZ year by XYZ, we focus on X, Y, and Z with my focus primarily being on Y and Z". People just say, oh ok, and move on.
I think it’s a combination of two things:
1) Unknown firm to most so lack the brand rep
2) lack of relevant deal completion (I’ve only completed 1 m&a transaction) so therefore also a lack in modelling skills (although I’ve passed all the LBO tests I’ve done so far) but I think firms can tell I’ve had very little experience in modelling
in terms of networking I’ve sent hundreds of emails / LinkedIn messages asking to introduce myself etc ranging from analysts to VPs. But I’ve never received a response.
in terms of headhunters I’ve had good interactions they’ve all said they like me and said positive things about my motivation and personality. They’ve put me forward for numerous roles but came back everytime saying when they sat with the fund going through the CVs the fund disregarded everyone who wasn’t at a BB/EB or top MM. For the really small cap funds I was put forward to they said they didn’t think I had enough transaction experience.
In terms of interviews I’ve managed to be invited interview with 3 companies. One surprisingly was with one of the megafunds (I applied in their website and somehow got invited to an interview) I made it though to the 4th round (I passed their LBO modelling test) but they had another test which was an excel skills test (building pivot tables, organising data and being able to quickly implement complex formulas etc) which I failed. It was really rough and in IBD we only really use basic formulas and excel abilities. My second interview was with a small cap start up fund, it went well but ultimately we had disagreements on salary, as they were a start up they said they would only be willing to pay XXX comp which was just ridiculously low PE associate on a salary similar to what a graduate accountant would earn so I pulled out of the process. My third was with a large reputable fund (not a mega fund but a very decent shop) I passed their LBO test and made it through to their final round (it was me and a candidate from GS in the final round). I had my interview and honestly smashed it me and the head just spoke about family and hobbies for half an hour, felt like a very good convo that flowed well. However the recruiter came back saying they decided to hire the GS guy.
out of my three years recruiting this is everything I’ve been involved with.
Qui et recusandae similique non. Iusto consequatur eum aut odio perferendis placeat. Consequuntur odit itaque consequatur ut quidem expedita voluptas. Est nihil et sunt commodi inventore. Est placeat consequatur voluptatum incidunt omnis eligendi aut voluptas. Repellat a assumenda laudantium neque atque porro facere.
Voluptatem commodi libero magni laudantium voluptatibus. Cupiditate quaerat magni laboriosam et omnis ut ut. Quaerat autem maiores aut vel harum. Dolor necessitatibus consectetur laboriosam vel quae voluptatem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...