May 08, 2019

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

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!

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5 Comments

O

4y

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

From Private Equity Associate to VP in Private Equity know is right here. Private Equity Job- What Do PE Associates Do? PE associates' days are ... Opportunities out of PE Private equity is seen by many as the endgame, but what about for those who don't ... like in private equity and how do
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What Do You Tell People You Do? a realtor. Plus even when I do try to explain the concept of being a real estate investment analyst at ... a realtor. I've tried using real estate private equity (not true), real estate development (also not ... true), and a wide variety of other made up job titles. But no matter what, as soon as the word real ...
Investment Banking to Private Equity- 6 Things You Should Know about approaching these things in an intelligent manner. This is what a PE associate does all from the ... recruit with the initial wave. PE networking is also harder than IB networking. 4. Do you move to PE ... junior level. 5. Why do some go into IB with the intent of moving over to PE? The street and recru
Private Equity Resume Template- Official WSO CV Example what you need to know for the bullets on your private equity resume, courtesy of @upod01, an investment ... Private Equity Associate: The single most important part of your interviewing experience with PE firms ... Attached to the bottom of this post, you will find the Wall Street Oasis private
Private Equity Interview Questions- 13 Topics to Know questions: Why private equity? Tell me about yourself. Walk me through your resume. What makes you a good ... Private equity jobs are some of the most coveted positions in finance. That's why less than ... a PE Interview You can expect these types of questions during your private equity interviews: Fit ...
Notes for Technical Interview Questions you are discounting How do you get WACC? What is the tax rate used- marginal or effective? + Cost of ... interviewers assumed I knew what I was doing. Still, I took the time to put my thoughts in order. If any of you ... What is the cost of debt and cost of equity used in calculation of WACC? How would you find them?- Cost ..
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Hope that helps.

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IB

4y

bump

CO

4y

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

Authored by: Certified Consulting Professional - ConsultantCertified Consulting Pro

PE

4y

Most Helpful

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.

Authored by: Certified Private Equity Professional - Vice PresidentCertified Private Equity Pro

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