Growth Equity Shops Associate Source Model vs Others
So I'm just trying to dive into learning a lot more about growth equity. I feel like I've gone to quite a few of the top GE firms websites, read news articles and talked to a few professionals, but one question that I've been afraid to ask is which shops follow the associate sourcing model and are predominantly cold-calling centers and which GE shops have associates taking a more technical role? Or really what other models are there?
Thanks a ton,
wallmonkey511
you can call it cold calling but keep in mind they don't just blindly call numbers - they need to do a lot of homework to feel out which businesses are more likely to do a deal...
I guess I shouldn't have put it quite like that. The associate I spoke with said that at the place he was at, it wasn't a cold call center, but instead he spent quite a bit of time trying to do research on the companies he approached beforehand because you have to convince the CEO/management that they should partner with you, that you know what you're talking about. It's definitely a lot more than just cold calling, my main question is though which places are more known for using their associates to source quite a bit, like from what I've read Summit is known for doing that, and which places aren't so much.
Like from what I've heard and read about sourcing I don't think it sounds nearly as bad as some say. Like I get the frustrating part, but on the other hand, figuring out how to approach CEO's etc of companies where it makes sense and starting that relationship sounds like a pretty stimulating challenge. If it really were just picking up a phone and cold calling all day then I could definitely see that being horrible.
Most growth shops are sourcing heavy. TA, Summit, TCV, Polaris, Battery, etc. will all have a sourcing focus. JMI does to a lesser degree.
There are only a few growth shops that don't have a significant sourcing component. From the top of my head, General Atlantic, Sageview, Insight Venture Partners, SL Sumeru, etc.
Do lower MM analyst have a decent shot at GE firms with the sourcing model? Unfortunately, I don't get as much modelling experience as most, but I do quite a bit of business development, and am thinking that I could leverage my current network.
I came from MM sell-side and am at a GE shop...one listed above. It is cold calling to a degree, although you generally email first. All the CEOs you talk to know what you are doing and you would be shocked at how much they love to talk about their business. It's actually a pretty cool thing to talk to someone significantly your senior, who knows the industry cold, when all you have done is look at their website for 5 minutes before.
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