Private Markets Roles at Tiger Cubs
First year analyst at a top EB TMT group and have recently grown interested in the Tiger Cub PE platforms. I have seen only surface-level information on these businesses and am hoping people with greater proximity will be able to help me answer the following:
- I assume focus is on late-stage growth minority deals (with commercial acceptance and path to IPO), but is there any flexibility here? Will they pursue earlier stage and / or control deals in the right situation?
- Are investing styles extensions of the public equity platforms or entirely distinct?
- What does the level of information flow look like between the public and private sides of these funds? Do they maintain an open dialogue (obviously not referring to private / sensitive information)?
- Do you know of any hybrid public-private analyst roles?
- Have there historically been opportunities for analysts to transition from private to public?
- Are there meaningful differences between roles in NY and SF?
- Do you have any color on the recruiting process (regularity of hiring, interview structure, etc.)? Do specific funds have a track record of hiring banking analysts?
Attempting to iron-out my interests / focus ahead of on-cycle recruiting and would appreciate any help you guys can offer. Thanks in advance!
Not exposed to this space but I think there are likely very few of these seats so the odds of getting precise info from WSO are probably low (and it is probably hard to generalize across these funds). My advice (and again I am not exposed to this space so take it with a grain of salt) would be to express an interest in these kinds of opportunities when speaking to recruiters but to stay open to VC/growth equity recruiting more generally
Can we make a list? Two I know of are the funds by Tiger and Coatue.
Other combination HF / Growth funds include Dragoneer and Altimeter.
OP here. I know Maverick has a dedicated platform. Lone Pine, Viking and D1 all dabble in private markets, though I'm not sure if these are siloed / independent teams.
Durable Capital is a newer fund that does both public and private as well.
Thank you. If you want to compare notes feel free to PM me.
These roles are very hard to come by, even for the cream of the crop candidates. Your general impression is correct but experiences vary a bit from firm to firm. Dragoneer and Coatue are the only firms mentioned here that consistently hire every year from banks. D1 has hired one banking analyst in its history and it was a PJT RX analyst and for a public role. The rest get to pick from a number of top candidates who are former MF PE. Unless you have a hook for one of these jobs that really sets you apart as a candidate, in which case, I'd guess you wouldn't come to WSO for advice, it'll be a pretty steep uphill battle out of banking.
I would advise continuing to pursue this path but know it's near impossible, if you get it great, otherwise also have a backup plan and find PE opportunities that you could do first at a MF PE (Apollo / KKR / BX type place) some of them even have growth-focused groups that hire regularly. Once you have that experience you'd be on par with candidates you are competing against. Obviously landing MF PE is not small feat either.
Who is the Dragoneer headhunter
Bump
Does this imply that Coatue / Dragoneer are easier to break into (and therefore, there's more churn) than Tiger / others that recruit from MF PE mainly? Trying to decide whether MF PE makes more sense if I'm interested in crossovers or whether I should try to break in directly.
Perhaps “easier” in the sense that they’ll run a structured recruiting process (for example, Dragoneer did on cycle this year and getting into the process was straight forward), but they’re still only taking 1-2 people and the interview process is incredibly difficult
I know a guy whose brother got into a private markets role at Tiger Management (family office). Before that he left MBB after being promoted to engagement manager 4 years after undergrad.
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