Information on Bain's Private Equity Group (PEG)?

Was wondering if anyone could share some information on Bain's Private Equity Group? Specifically, looking to get a sense of hours / type of work / travel involved? Do ACs serve in this group as a rotation during their time at Bain? 

Would love to know what differences there are between spending time in PEG vs. in the general consulting pool at Bain. 

Thanks! 

Comments (16)

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  • Intern in Consulting
Jan 4, 2022 - 10:59pm

In short, PEG hours are higher and more intense on average compared to the general consultant pool, so you'd be looking at 60-65 hours. The work is mainly due diligence for target companies (market size, competitors, etc.) No travel involved in PEG cases. PEG is a "ring-fence" and you can do a rotation there as an AC (I believe its 6 months). 

Overall, I'd say the difference is mainly the type and scope of work in PEG (DDs) which operate on tighter deadlines creating longer and more intense hours. I heard Bain PEG described as a very robust, regimented machine, and as the clear market leader in this area, it seems like something worth taking a look into.

Most of this information is available on Fishbowl which is a consultant-heavy place so there's tons of info/discussion on there and I would highly recommend asking there for further questions/specifics. Hope this helps and if anyone can offer additional details or corrections, happy to hear those as well

  • Analyst 1 in IB - Cov
Jan 5, 2022 - 12:05pm

Super helpful - thank you!! So you're saying that the PEG hours are 60-65 hours a week (I'm coming from IB so that sounds nice...) 

Does it require Sat / Sun work or no? 

Jan 6, 2022 - 2:03pm

Rarely does PEG require weekend work -- Bain is very good about protecting weekends. It's also important to note that people in PEG get more beach days than general practice to help balance out the drop in WLB. Between each DD (which ranges from 2-4 weeks), teams usually get a day off while the Managers/Partners wrap up the prior DD and staffing figures out the logistics of the next engagement. Note that this is not a guaranteed (sometimes you get no day off, sometimes you get a week off). 

  • Associate 2 in PE - LBOs
Jan 6, 2022 - 2:38pm

I've done PEG and trust me after finance the WLB is absolute paradise and the partners still bring in $3-4mm/y because these projects are often $750k for 3-4 weeks of work and as a partner you can have multiple DDs going concurrently. I would recommend against doing too much PEG early on in your career (I did almost two years of it because it is such a good gig) but then realized I had neglected development on some other skills. As for an end-game Partner level however, I would sling as many DDs as I could.

  • Associate Consultant in Consulting
Jan 5, 2022 - 1:32pm

I can't remember the specific post, but you can search "PEG" or "Bain" in the search tool and it will filter posts/comments with those terms. You should have no issue finding a bunch of info. To answer your other question, generally speaking, weekend work in MBB is incredibly rare. 

Jan 6, 2022 - 2:00pm

PEG has slightly longer hours than general practice (1-3 hours more per day, based on the length/intensity of project, the manager, and the partners on the case). Most of the work is commercial due diligence for a private equity firm looking at a potential acquisition, and the rest is portfolio work for a private equity firm (sometimes structured as a retainer team, sometimes structured as a regular general practice case, but shorter in duration).

The main deliverables for the PE client are a midpoint update and final update, which are usually lined up to occur either several hours before or the day before the IC meeting. Because of this, the pace of PEG feels much more deal-oriented than traditional consulting.

Involvement in PEG at the Associate Consultant/Consultant level is structured as a 6-month rotation which most people choose to do because of the rapid skill development and industry exposure that PEG offers. Some Senior Managers and Partners will specialize in PEG by establishing either a strong client relationship with a PE megafund and/or expertise in a certain industry.

PEG doesn't travel because PE clients don't need us on site.

  • Associate 2 in PE - LBOs
Jan 6, 2022 - 2:39pm

I would agree in general but it's extremely unusual IMO that partners schedule readouts for any day other than Friday because of the pressure to work weekends if you schedule a different day. PE firms generally also like to have the weekend to incorporate consultant's materials into their IC decks for Monday.

Jan 7, 2022 - 2:37am

Bain's bread and butter is PEG - they invented this type of consulting and they'll continue to dominate for the foreseeable future. Arguably, the #1 reason for their inclusion within "MBB" is how successful PEG is, and the influence they have over the trillions in capital being deployed by PE 

This is just to say that, with PEG being Bain's largest business, pretty much every single Bain office will have a decent amount of PEG presence. I've even heard that a PEG rotation is not optional at some large Bain offices

Jan 7, 2022 - 7:32pm

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