PE Recruiting in Europe and Asia
Does anybody know how PE megafund recruiting works for Europe & Asia? I heard it is a lot less structured compared to the U.S. Any insights on this would be greatly appreciated.
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I cannot say about Europe, but in Asia its quite structured. The megafunds (KKR, TPG etc) all run processes and have tons of applicants from the banks and other PE shops. The process can take a while from what I understand and there are definitely fit questions and modelling tests. They do have annual intakes like in the US and are structured similarly.
However, the real question I have to ask you is (at least in Asia) is: what is your edge? Funds in Asia are localized and if not they are localizing very very quickly. The big funds all want natives of Asia. So KKR (just as an example) wants Chinese (not Taiwanese or HK'ers) in Beijing/Shanghai/HK for China deals. Native Mainland Chinese with banking/consulting experience and a top degree or MBA. Not fluent speakers, but natives. Ditto in India. They want native Indians, who call India home. Ditto in Japan, SE Asia. SE Asia sometimes is still an area where the odd non-native can get in and work out but it is becoming less common, specifically Indonesia.
The other question is that on a fund level, I do not see many funds in this part of the world making outsize returns. I think that there is too much cash flying around (KKR just raised $6bn, CVC 3.5bn, TPG 3.3bn, Affinity 3.5bn, Bain 2bn) and that's just to start and does not include Carlyle who is still in the market and Baring ($3bn) which is just launching. Work hours here are long since personal and business mix a lot so your MDs/Partners will be doing all kinds of things to win deals, which means more stuff passed down to you. Long work hours, not outsized returns... Why do you want to be in Asia?
Not trying to discourage anyone at all, but just asking. Maybe you are Asian and want to move home or get closer to your (or your family's) culture. Maybe you want an international experience. Maybe you just love Asia. I don't know, but its just something to think about...
Good luck
At what level? Entry level is not as structured while pre/post MBA is similar to the US. Entry Level: connections helps A LOT. Otherwise you need to attend a top target. Different megafunds have different lists. BX recruits regularly, and SilverLake is mainly recruiting at Wharton & LSE (if from europe). KKR fancy Tsinghua (a top Chinese college) while TPG & Carlyle are basically connection hiring.
Experienced level is the same as mentioned above. Headhunters will do the job. And yes, you have to be a native Chinese/Indian to break into the junior level unless you are relocated by your megafund in the US, which is not your case anyway.
From my perspective, currently an analyst and having spoken with recruiters, colleagues who made the jump, and those that didn't, it is quite different from the US.
I'm speaking from an MM perspective primarily as that's where my interests lie, but recruitment is on a much more ad-hoc basis, and you become an interesting candidate after at least 2 years of experience in M&A, anywhere up through to the more senior associate level, and it is really done dependent upon business need.
PE recruiting in Asia Pacific - timing and opportunities (Originally Posted: 05/28/2016)
I'm really interested in exploring PE as a career option and I'm hoping to have a career based in Asia-Pacific (I'm currently in Australia). However, most of the information I can find is US centric.
I was wondering when recruiting occurs in Australia and Asia. I was also wondering if anyone has any thoughts on how to pursue a career in APAC without being able to speak Chinese.
I'm currently a first year analyst at a bank that apparently places very well into private equity, but it's a bit of a taboo topic of conversation, especially as a lot of people are now hoping to be career bankers in my office.
PE is generally is much smaller in Asia due to deal sizes being much smaller in general. Also, PE pays lower on average compared to IBD based on what I have heard. Recruitment is done mainly through referral and occasionally through head hunters.
PE recruitment in Asia? (Originally Posted: 02/24/2010)
Curious if anyone has insights on PE, HF, or VC recruiting in Asia after being an analyst at a top BB in HK? I highly doubt that I'll be able to fly back to the U.S. for any recruitment, but I've heard of some analysts being hired internationally like in London. I hear PE is still underdeveloped in Asia so my general question is where do Asia analysts go after a 2 year stint besides being promoted or asked to stay on for a third year? I really don't want to be a street sweeper after 2 years but I suspect this will be the case; I have no idea to be frank.
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