PE Recruiting London corona
How will Corona impact recruiting for PE Assocs in London in the next months/ year? Curious to get some insights
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Interested as well.
Interested
Interning at a REPE shop in London. The team was actively interviewing for associate + analyst level but whole process has been put on hold until things start clearing up.
Spoke to a couple of people in PE. A few HHs have mentioned they are not being active in finding talent right now until things settle down. Have reached out on LinkedIn to some people for virtual coffee chats and they've all said the same thing; "send me your CV and we can properly pick this up in a month or so when things improve". I think that firms that had open positions from Q4'19 still may have them open now but want to wait to get formal recruiting processes going. The again this is my experience in Europe, not sure if it is different for others in other places.
Can second this - I had a few HHs reach out on Linkedin, and they're using this time to build their network whilst the hiring processes have dried up. IMO it could be a good time to get in their diary and establish the relationship, and for you to get in a position to nail it once the mandates start flowing.
I know that some processes for important/much needed hires are still ongoing, even though everything is being conducted exclusively as video conferences. Currently no plans to set up in person meetings due to the uncertainty of when it will actually be feasible to have such meetings. Quite likely that they will give offers without having met the candidates in person, which feels a bit odd. Just want to note that this is for processes that were initiated before the situation escalated to where we are now.
As you are probably aware most PE firms are very busy working with their PortCos to make sure that they weather the storm. Hence, they would likely want to postpone non-essential hiring for until there is a bit more clarity around how things will play out according to a couple of HHs that I spoke to.
Almost everything I knew of was put on hold in March, regardless of fund size. I noticed some recruiting firms continued advertising roles on behalf of clients throughout April; potentially a CVs collection exercise ahead of a restart. As of mid-May I have heard of more activity (e.g. first rounds over the phone, case studies on Zoom).
Everything will likely remain stop-start, however, funds who can afford to will want to try and recruit for junior roles in the summer vs waiting for autumn when everyone is searching (similar trend to last year: processes were being advertised in July/August rather than the usual September/October; this is mostly true for large cap).
Finally, I heard not all funds are willing to make an offer without in-person meeting - worth asking the question to the HH.
Which HHs are best for London? Interested in MM as well as MF. Did you guys reach out yourself or they got in contact?
your nickname hahah
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