PE Fund without Analysts?
Why is it that many PE funds don't have a single analyst position? I came across a fund the other day that didn't have a single employee that was below the VP level, and everyone else was either an MD, Principal, or Group COO. How does a firm like this function, do they outsource a lot of their more technical work to consulting firms or i-banks? Is it mainly smaller funds that function this way?
VPs are capable of using excel too (shocking in banking, not so much in PE)
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