Search fund internship interview?
Have an interview (phone) with a private equity search fund for an internship opportunity. What can I expect from the interview. I am assuming I wont need to know technicals like modelling and valuation.
Any insights or thoughts?
Presumably variable because the principal(s) may not have traditional buy-side experience. Read Stanford's Search Fund Primer (you'll find a PDF via Google) and be able to speak to the search model, target industries, and ideal deal economics. Bonus points if you come in with a few industry theses to pitch.
Good luck. I got started at a search fund and got a lot of value out of my time there.
bump
Don't worry about anything technical, it is highly unlikely to come up. The work itself is a grind but the benefit is that you are most likely going to work with a very talented person and you'll be exposed to a ton of different business models and industries. If you're excited about that, make sure it shows in the interview. If not, the monotony of the work will probably cause you to be bored out of your mind after a few weeks.
Echoing what was mentioned above, read the primer. Learn the model, understand the characteristics of the ideal target and why search funds avoid turnarounds, start-ups, flat growth, heavy CapEx, etc.
Cool thanks, will do!
How should I prep for a PE Search Fund interview as a rising sophomore? (Originally Posted: 07/07/2017)
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take a look at this thread, https://www.wallstreetoasis.com/forums/search-fund-intern-interview-prep
Search fund internship interview help please? (Originally Posted: 07/09/2017)
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PM me
Done.
Unless you've been told they are going to ask, I highly doubt they'll ask you to talk about a current stock you would invest in and why. That's not relevant to the work you would be doing at a search fund at all. I also doubt they'll ask either of the other questions, but they're at least relevant, and it makes sense to be prepared to answer those questions in general. Regardless, there's no right or wrong to those questions. Go on google, type in "List of industries", choose one, research it for an hour/read a couple articles about the industry trends, and form some opinions about it based off what you read.
I would focus more on preparing your story, why you are interested in finance, and why you want to work for a search fund. These questions are going to matter way more and are more than likely going to be the focus of the interview.
Thank you, do you mind if I PM you my story and ask for feedback?
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