Impact Private Equity --- what do I tell the head hunters???

Impact PE's picture
Rank: Chimp | 9

Hi WSO,

I'd like to spend my long-term career in the field of Impact Private Equity, hopefully within the LBO space (although I know that not many firms exist like that right now).

I'm an incoming first year IB analyst and will do on-cycle this fall. I'm primarily looking to learn as much about general PE as possible early on in my career so I'm shooting for good MM LBO shops but would definitely consider heading into Impact PE right away after banking if I had the opportunity at one of the megafunds impact funds (Bain, KKR, TPG, etc.).

When I'm talking to recruiters, should I mention that I'm interested in Impact PE for the long term and that I'd like to interview with the Impact PE shops as well as MM LBO shops? Or would they see that as not specific enough and basically just not be helpful for either?

Also, could anyone speak to the interview process at the Megafund's Impact PE funds?

Thanks!

Comments (5)

May 8, 2019

Impact PE, sorry about the lack of response. Maybe one of these topics will help:

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  • More suggestions...

Hope that helps.

May 14, 2019

bump

May 14, 2019

Also interested in learning more about this - trying to end up in Impact investing long term as well.

    • 1
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May 23, 2019

Try to learn more about each of the MF firms you listed and how they handle staffing internally; depends how each firm is structured, but based on recent conversations with folks in my network you might be able to kill two birds with one stone.

I bring this up because I recently found out that TPG's impact fund is technically part of TPG Growth, so deals for the two funds are staffed from the same pool of associates. That's second-hand information so you'll want to verify for yourself, but if that's true then landing an associate offer at TPG Growth sounds like your ideal next step (get to work on both MM LBOs and impact investments). If the other firms are structured similarly then that widens your net a bit.

Absent unique opportunities like that, my advice would be to focus on the MM LBO shops in your conversations with recruiters. Ideally you'd be able to take a look at their client list beforehand to see if they have any of the large impact investing shops as clients. If that happens to be the case, then I would encourage you to frame your interest exactly as you've done in your post and mention their impact investing client as a place you're interested in (i.e. in addition to the MM LBO shops); the question you should be prepared to answer is where you would go if you ended up with offers at both. It's up to you to determine the choice you would make in that situation, but ideally you'll have thought about it before your meeting and have a thoughtful response.

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May 23, 2019
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