State of Private Equity in London?
Currently a 1st year IBD analyst at a mid tier BB in London (think Citi/BAML etc). Like many people in my situation, goal is to get into private equity in London but it does seem more competitive than in the US (i.e. less seats available, for more applicants etc.). I'm also a non EU/non UK citizen and don't speak fluently any mainland European language (i.e. only know English).
Was wondering how difficult it is for me as an international applicant (i.e. require Tier 2 visa sponsorship) and don't speak any European language to break into PE in London? I've already chatted to a few recruiters at big name (KEA, Blackwood etc.) and the impression i'm getting from them is that my chances are quite slim.
In addition, it seems that with Brexit uncertainty etc, lot of the deal opportunities in London are starting to dry up a little (or beginning to shift into mainland Europe anayway). So was wondering what the overall state of the PE market is in London for someone like me.
Can anyone shed any light?
Also interested.
Just did the process out of one of the Mid BBs. Firstly, BAML is a bit better than Citi on average according to HHs. Nonetheless, if you are a high performer at one of these firms you should be able to get a pretty good exit, maybe not MF but still good. In your US comparison you also need to realise that a bunch of top firms in the US aren't that top in London, pretty much all of the EBs. That makes your Mid BB actually a bit better, comparatively.
Your bigger problem will be the lack of language. As most funds want UK people for UK teams and continental people for the rest, it could prove very difficult to get good offers without an interesting second language.
Could you please PM me? Thanks!
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Thanks for the reply. Agreed- i have done my undergrad degree in UK, but am not a UK citizen (currently on a tier 2 visa). From just speaking to HH, it does seem quite challenging to end up with a good role at UMM PE/MF PE if you don't know a good European language. I would say i'm probably one of the higher performing analysts in my class, but it does seem funds would prepare someone who isn't that highly ranked but does know a European language over someone who is better performing who doesn't.
Totally agree, and the fact many of the Mid Market Funds don't sponsor visa make it even harder to land a PE offer.
The lack of European language is going to be a real challenge as it's now very common (and a requirement at quite a few top European business schools) that people need 3 languages (mother tongue + English + 1 more). I would target smaller funds that have a broader investment strategy (ie. generalist funds that invest across Europe, but are too small to have dedicated country teams). The downside of targeting smaller funds may be their reluctance to offer sponsorship, but I still think it would be your best bet.
You are basically just explaining Insead lol - but agree languages are important as explained here: https://www.wallstreetoasis.com/forums/20-most-frequently-asked-questio…
Thanks for the reply. Yes, thats what i'm going for at the moment. Was also thinking as a second best option, applying to some credit funds or l/s equity funds as a. Any idea on whether they require knowledge of European languages/can sponsor visa?
Bump. Curious to know what became of you :)
Kinda in a similar pickle...
Does anyone know if UK PEs are interested in US-based I-bankers? Currently working for a BB in the US but originally from Europe and can speak an extra EU language. Would transferring to LDN help at all?
Some people do make the move yes. NYC IB is well respected and if you are indeed from Europe and have a good story as to why you come back to Europe then sure!
How would you approach the move? Cold email London HHs explaining your situation?
European NYC BB Analyst here
How is recruiting at the moment, esp. for MM & UMM in London? still not returned to pre covid levels?
Interested as well !
bump
How is recruiting for MM / UMM in London at the moment, given strong preference for female candidates?
You sure there’s a strong preference for females? PE firms don’t push as much as IB for diversity hires
Yes can anecdotally confirm that it's much easier for female candidates to get interviews
1,000,000%
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