Infra PE recruiting / prep
Anyone have experience with Infra PE recruiting? What sources/guides did you use? Trying to figure this all out before HHs start reaching out.
Thanks!
Anyone have experience with Infra PE recruiting? What sources/guides did you use? Trying to figure this all out before HHs start reaching out.
Thanks!
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What is your background? If you are an infra banker, your preparation would look really different vs. if you work in another sector. I switched from REPE and did the following:
Note I'm based in Europe so recruiting here is much less structured than in the US. I actually got one offer through a HH but accepted an offer from a firm that I contacted myself.
Thank you, this is great.
I’ll be joining my BB’s infra IB group after summering in structured fin / RE.
How would you suggest I go about prepping for technicals / modeling? I’m sure the technical prep was less relevant to your process given your previous experience in REPE.
I actually found it difficult to find good infra models/courses/videos online as the sector is much smaller and less hyped than corporate PE. Whilst we are more cash flow/yield focused vs. corporate PE, you still think in the same valuation terms, i.e. IRR, MM etc. I think that if you go through PE case studies/modelling tests, you should generally be well-equipped. After all, many infra investors just buy operating companies (albeit asset-heavy).
I didn't get any specific infra technicals so would look at standard IB/PE stuff.
Overall, if you can model a company/building, you'll be fine. I found reading research reports (e.g. Bluepapers by MS) extremely helpful to demonstrate my interest in the sector.
If you don't mind me asking how was the recruiting process from US to European roles? Looking to possibly look at london HFs after maybe a year or so
Sorry if I was unclear but I've never worked in the US. I've worked for US BBs and a large American PE shop before moving to a European fund on the continent (i.e. non-UK). Assuming you wanted to know what it's like to move from a US firm to a Euro firm, I think there's a few interesting culture differences:
My favourite anecdote on this: I received offers from a UK and a Euro fund and both asked me back in because of potential "cultural fit" issues. The UK fund thought I was too soft and wouldn't be tough/aggressive enough, whereas the Euro fund was afraid I would be too aggressive, competitive and, overall, too Anglo-Saxon.
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