FT Offer at PE Firm w/ Sourcing Model Worth It?

Assuming it is a reputable shop, you wish to pursue a career in PE and your other job prospects are unrelated the answer seems fairly obvious.

Can someone elaborate on this sourcing model as I am not familiar with the activity although I understand it in concept? What % of your day is spent calling. All of our deals are the result of family/business relationships and we are invited into a variety of formal IB sales processes.

Yeah, I felt like it was an obvious answer as well but I'm just hesitant because I'm not sure if spending a good portion of your time prospecting and sourcing deals would be looked upon favorably in the industry. However, there will be a good opportunity to work with the partners so I think that outweighs any amount of calling.

The sourcing model involves cold calling companies within targeted insustries to look for potential divestiture/acquisition targets that are in line with the funds investment strategy. I'm not familiar with how effective this is.

Anyone else out there who works in PE who has any commentary concerning this?

When it comes down to it, as an analyst you're basically a glorified telemarketer and the office is a call center.

If you do take the job, remember for an exit opp: in the mouth, barrel up towards the middle...

Aren't you a junior interning in strategy consulting who aspires to be in S&T?

Lets just keep these types of comments to yourself.

Sourcing deals is either something you love or hate. Many Associates (and VPs, to an extent) are not comfortable calling a business owner out of the blue and trying to pitch the fund and opportunity. However, those that are comfortable cold calling have the ability to move around and up within the PE world with relative ease. Sourcing a deal is a great opportunity to gain exposure in a fund and set yourself apart from other Associates. In addition, when interviewing down the road, speaking about a deal that you sourced is especially attractive compared to another candidate that can only talk about crunching the numbers.

Try not to think of deal sourcing as a bad thing. If you're able to focus on a few industries at your fund, you can start to build relationships with business owners. At that point, you can take your prospective deals anywhere you move.

The benefit of a sourcing model is that each day is different. Though, you need to quickly get used to and be comfortable with rejection. The trick is being well rounded. If you're comfortable structuring the deal as well as starting up a conversation with a business owner and pitching your fund, you're in good shape.

Deal sourcing isn't for everyone. I have known plenty of Associates that want to work in PE, but loathe making calls and hate their stint at the fund. Conversely, there are those Associates that love the chase and live on the phone, but hate structuring deals.

(Don't forget that sourcing also includes emails. Not everything is done by phone.)

Hi, I was wondering if you could send me more information about the firm, Summit Partners, that you mentioned above? im looking for a job in Private Equity but they don't interview at my school so I am researching names of top PE firms and making a list of ones I find.

In case anyone else here wants to network & help each other out LOL I am going to paste my usual coverletter here because im too lazy to think of something new ;)

To Whom It May Concern:

My name is Nicole Redacted and I graduated last year from Quinnipiac University with a marketing major and a minor in Business. A little more about me:

I am a proud Native New Yorker! Being raised here, I enjoy a fast pace & I recognize & and expect the finest things life ;) Not to be talking too much about husbands & bling bling LOL, I am not a gold digger, in fact my boyfriend works @ Merill Lynch & he says I am one of the most independent women he knows. This brings me to my recent career: I am so excited to be working in public relations! I have always loved style and presenting ideas, I was Vice President of the Marketing Club in college. My dream is to one day be a major event planner working with the latest celebrities and I would also like to open my own designer clothing boutique. (My favorite designers are Chanel, YSL, BCBG, Cartier, and of course Louis Vuitton

I think she thinks PE = MTV VJ.