finally...PE interviews starting
Hi everyone,
after two years in banking, i have started my PE interviews, for my past two years I have been actively preparing for it. However, would like to know what needs to be prepared in a comprehensive way from some of the experts on the forum.
Apart from the necessary net working, fit the culture, performance on the day stuff...i am focused more on the technical side. I am currently preparing or have prepared the following topics for my up coming PE interviews:
1. General modeling (building M&A model, DCF, lbo model from a blank excel sheet)
2. Know my own deals, able to explain in detail what I did and why the deal happened etc
3. Be able to talk about a few companies that might be good to invest in and why
4. ofcourse, refreshing all the technical side of finance
Can some of the experts from this forum add/edit some more topics that they think is necessary for me to prepare for PE interviews. Things like specific case studies, math test etc ofcourse I cannot prepare as it will really depend how much knowledge I have built up since joining the industry...
Thanks alot.
At some point, the knowledge aspect of it becomes a moot point. Most (if not all) PE shops know what analysts do at banks (having been there before) and we are well aware that in the last few years, deal flow hasn't been great.
I'd recommend focusing on the softer skill-set. Take a look through the firm's website and get a sense of the deals they did and why. For some of the bigger guys, this is tough because it doesn't seem like they always have a strategy (other than putting a lot of capital to work). Have a good idea as to what they've done recently (any major changes, etc.). Finally, don't be a weirdo. People often underestimate the fit aspect of the interview.
...fit is important...technicals only get you so far.
I am assuming you are talking about a MF, MM PE hire on an as need basis so opportunities are always opening up...but yes fit is very important. I was bullshitting with my boss about all of my interviews and what was their basis for hiring me. He didn't ask any technicals but a few other people did, his logic was any asshole can google a dcf or lbo model and figure it out very easily. Just wanted to see if i was interested in finance and he could stand sitting 2 feet from me for 60 hours a week and not be embarassed to have me interact with people on behalf or the team. My GPA and in particular, major GPA, illustrated to him that i firmly grasped accounting and finance. Be prepared for all the techincals obviously but don't come across as an antisocial joker.
Thank you very much guys, it is much appreciated.
HerSerendipity, thanks for reminding me that i should research more into the PE's strategy, the firm etc, very good point.
I understand the fit is very important, overall i think i am good at this, but from my experience, it also depends on the interviewers, while i tend to get along with most interviewers, but during one of my early banking interviews, there were people that just didnt click with me....
Thanks again
Another quick question, when someone ask you during interviews to tell them a good company to invest in or to do LBO on. Is it better for me to pick a company from my own coverage based on my IBD sector or is it better to pick a company outside my IBD coverage that shows that I understand companies outside my normal coverage? or does it not matter that much as the interviewer just wants to see your thought process and wants a general discussion with you?
thanks
just pick the one that you feel convicted about and also know the most about. showcase what you know...
That make sense, I would rather pick one company from my coverage as these are the companies that I deal with 24 hours a day....
Pick one from your coverage area, but be prepared to be very active on the downside risks to the sector and aware that other sectors will have opps as well. If possible maybe have one from you sector and a secondary company from outside your sector.
Personally, I'd argue it's better to pick a company not in your coverage area. Shows you have your own interests and are able to research shit yourself, instead regurgitating what your MDs told you to put in a CIM.
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