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How well did you know your deals for on-cycle?
For those who have participated in on-cycle, how well did you need to know your deals / portcos from the previous summer? Are you expected to accurately recall financials and quantitative data? Can you make up for those shortcomings with perfect model tests and behaviorals? My start date is likely...
How to connect with other analysts and associates at MF REPE shops?
Currently at a small (~$3B AUM) shop in the Mid-Atlantic doing AM/some capital markets stuff. 1.5 YOE. Desperately trying to build connections in the REPE space by me. MM guys will almost always take a quick call or even a coffee/lunch, but these megafund guys never respond. Obviously I know how...
Top EB vs Tech MF PE for SA
Hi all, Fortunate to have an offer from an EB (CVP/EVR/PJT) and an offer from a software-focused MF. It's a great problem to have but I would love any input or advice on how to go about making the decision. Some thoughts I have are that banking gives you a huge network during those first two years...
MF Tech PE Exit Opportunities
Hey y'all, I'm currently a senior who's going to be doing tech PE at a MF (KKR/Vista/WP) when I graduate. I was just curious if anyone had any color on what the most common exit opportunities look like. Is it a lot of staying in PE for the long haul (or leaving to other funds), exits to growth or...
Mega Funds Promotions
What mega funds actually internally promote and do so in a quick manner - where is it feasible to make partner/MD before age 35? Aside from Apollo.
Why is the fees for mega funds only 2/20 and not 50/50?
Why are mega fund fees only 2/20? Wouldn't it be more fair since the fund employees do all the work (60-100 hours a week per employee) that the fees should be like 50/50(equal split of the profit between the employees and investors)? The investor does nothing except supply capital. It can also be 2%...
Big 3 Tech PE vs MF Tech Group
Hey, I was just curious about the main differences between going to one of the Big 3 (SL, TB, Vista) versus being in the tech team at a megafund (BX, KKR, TPG, Carlyle, Advent, WP, CD&R, etc.). Is the work any different? Is comp different? How does deal flow compare? Are the companies you work with...
Megafund Tier-List
It's that time of the year again... am curious to see where everyone thinks the megafunds stack up in terms of prestige. The funds that I am considering megafunds are the following (having raised >$15B for a PE fund): BX, KKR, Apollo, Carlyle, TPG, CD&R, WP, Advent, TA, Bain, H&F, SL, Vista, TB,...
Interview help, DE Shaw Groups and Structure
No longer relevant.
EB vs MF REPE Offers
Got 2 offers from EB and MF REPE for 6-mo internships. Have both RE and regional IB boutique experience. See myself as someone who wants to be on the buyside LT, don't know where yet (PE/credit/RE, etc.) Both brands are very good. Pros and Cons for each: IB - Better learning opportunities (let's...
Self-admittedly "mid" analyst transitioning to MF PE
About to wrap up my second year at a highly-regarded M&A group and starting in MF PE in a few months. In terms of work performance, my two years were fine (at best) and I was mid-bucket through and through. I truly was not blowing anyone away with my thoughtfulness, skills or speed in Excel or...
What is large-cap PE?
What firms would you guys consider large-cap PE? I previously considered these to be firms that have been able to raise >$15B in buyout funds and are in the top 30 for the PEI 300. That list looks like this: KKR Blackstone Thoma Bravo Carlyle Group Hellman & Friedman Vista Equity Partners Silver...
What is a Megafund?
People on this forum seem to frequently double down on “knowing” MF PE is what they want their future role to be. However, I have a pretty simple question for the forum that no one seems to be able to answer: What firms are megafunds? Why? Do you go by AUM? Investing Strategy? In my banking...
MF PE Offer Rescinded?
Was fortunate enough to receive a MF PE Offer on-cycle this year. However, given the current economic conditions and layoffs we've been seeing, I have been (possibly irrationally) worrying that my offer could get rescinded. Has anyone ever heard of MF PE funds pulling their offers? Either for macro...
Technical Screen at Large PE
If you've been an interviewer at a PE firm before, how do you evaluate 1st round technical screens? Do interviewees need to get a perfect score, i.e. answer all correctly? I ask b/c I stumbled on 1 of the total 10 technical questions. I eventually got it with help from the interviewer. Also - are...
Duke worth the loan?
Is Duke worth the $150k loan I'll have to take? My other options are UC Berkeley and UCLA, where my parents will pay for the entirety of my tuition. I want to join a private equity MF out of undergrad and don't have intentions of doing a post grad
Non-PE 1st Year Analyst Comps at Top Megafunds (Carlyle/Blackstone/KKR etc.)
Hey everyone, I'm joining a non-PE group within a top megafund (Carlyle/Blackstone//KKR/Apollo etc.) as a summer analyst next year and am wondering if anyone has any insights as far as what I can expect for total comp (base + bonus) for a 1st year analyst. Appreciate any input!
Pre-MBA Internship PE - background check
Easy question. From your experience, does any of the large cap PE that offer pre-MBA internship conduct a background check? Or is it much more informal?
Right out of undergrad : BB IB or MM PE ?
PE MF vs BB IB right out of undergrad is a no brainer. But what about PE MM vs BB IB ? Pay slightly better in BB IB, lifestyle slightly better (depending on firms, could be significantly better) in MM PE, so I guess it all comes down to exit opps (or more precisely post-analyst years opps). I...
Brookfield Toronto
There seems to be a lot of mixed reviews on Brookfield in terms of culture and compensation. While I know Brookfield as a platform is great with a ton of capital and strong deal pipeline, it would be great if someone with first or second-hand experience working there could chime in on the above. I'm...
Houston IB - Non-O&G Exits?
Junior that will be interning at a Houston EB wanting to stay in Houston for my IB stint. I want to know how difficult it is to recruit for PE in energy-related industries like industrials / infrastructure / renewables. Do I have a chance at non-O&G MF PE (NY/SF) coming from a top HOU energy shop?...
Can I get into HBS or GSB
2 years at tier 1 investment banking in NY (GS, MS, JPM, Moelis, Lazard, Evercore, PJT etc..)Now at tier 1 Hedge Fund in NY on the investing side (Think Citadel, Mill, P72, DK, Silverpoint, Anchorage, Renaissance etc) Non-target ~3.3 GPA (have a very compelling reason). ...770 gmat. White male....
Which MFs Have Sourcing Strategy for Juniors?
Hi, I was reading about how WP may have some sourcing for the analysts (especially in Tech investing) and was curious if we could come to a consensus on which MF PEs have sourcing requirements for analyst or associate programs. Thanks!
Moving Around in MF?
Have a potential opportunity for a PM role with MF REPE (Carlyle, Brookfield, Blackstone, etc.), and was just curious if anyone has ever transferred internally into a different vertical (PE, energy, infra, whatever). MFs are obviously huge, but what is the internal networking like and ability to...
Benchmarking PE Analyst and Associate Compensation
Hey everyone, I was wondering if we could benchmark the PE analyst and associate program compensation figures across MF and UMM firms, seeing as I couldn't find any recent posts on this. Thanks!
Generalist MFPE Associate Programs
The title says it all. Curious as to which MF/UMM private equity firms offer a generalist experience at the associate level. A couple off the top of my head are Blackstone and Apollo. Also, this is mostly aimed at Corporate Buyout PE, but feel free to mention Distressed shops.
How to Get Into a Megafund's RE Arm Out of School?
Senior monkeys and real estate gods, I am a senior in at a semi/target school, with a decent GPA, who always found investing interesting. I dug deeper into this and decided that I want to pursue real estate investing to start my career. While there are pros and cons to being at a large fund vs. a...
Q&A: MD/PhD --> MBB --> MegaFund
Hi all, This forum has been a constant source of great information, so I'd like to give back with my first Q&A as I wrap up with MBB and prepare for the next role.
I Gave Up on Buyside Recruiting - Dropping Prep Materials + Technicals
Hello fellow monkeys. Recently, I decided to give up on buyside recruiting and stay on as an Associate in IB. I realized I simply didn't want it enough and just ran out of energy to dedicate to the search. I've also frankly enjoyed my time in IB a lot and look forward to continuing my path here. A...
PE Portfolio Operations - from MBB vs MegaFund REPE AM / Portfolio
Hi all, Was wondering what would be best to break into a Portfolio Ops team at a MF (KKR Capstone, Oaktree Ops...) : MBB or a REPE AM team at a Megafund? From my understanding Generalist Portfolio Ops and REPE AM both do reporting, stakeholder management, operational improvement with the management...
Mega Funds at the Mid-level
I've heard from enough people that mega funds can have awful work/life balance at the associate level. How is life at the mid-level at firms like CVC, TPG, Apax, Blackstone, etc. Would appreciate any general commentary or specific company insights. Thanks!
Best MF Growth Practices?
I know that there are a few mega funds that have dedicated growth equity funds (KKR, BX, WP, etc.) If anyone has information, would love more clarity on what industries each covers, fund size, fund success, comp, where they recruit from, etc. Thanks!
Getting "Better" at RE
I'm wondering what everyone thinks is the best way to get "better" and more knowledgeable about real estate, especially given it's not a super academic field that you can necessarily learn from a textbook. Specifically, trying to move from a lesser-known LP to a larger "MF" LP or acq role at a large...
Megafund recruiting from IB
Where do megafunds/headhunters typically recruit from? Is it only EBs and BBs, a select few EB/BBs, or others as well?
Q&A: Credit hedge fund analyst at MF, former BB trader
Mod Note (Andy): Q&A/Interview Tuesdays! Email me ([email protected]) if you'd like to do a Q&A or interview for WSO My background is working in a high yield/distressed trading desk as a research analyst and trader, before making the move to a credit hedge fund within one of the major PE...
Megafund PE -> Impact Investing (IFC World Bank)? Am I Crazy?
Hey WSO: I wanted to get a second opinion on my next potential career move. Personal background: Graduated from top target 2 years ago, went to a megafund (BX / KKR / Carlyle) out of college, been here since. Right now I work with top tier talent on smart deals, and make decent bank...but I just...
Secondary Market for PE Investments
Hi guys, just wondering whether any of the professionals working within the industry can tell me what the secondary market looks like for PE or other alternative strategies. The reason I am asking is because I'm an investor and I'm quite bullish on the alternative asset managers (KKR, BX , CG etc)...
How much weight is put on where you went to school in PE recruiting?
Landed a job at an EB in nyc (laz, evr, moelis) with the goal to make it into MF or UMM PE . Having gone to a non target school (state school), is that going to be a significant deterrent in getting into a top PE firm? How much weight is put on your undergrad, especially with an average GPA 3.7-3.8?
Megafund hours for VP or above
Hi, Would anyone please share a bit on how the hours are like for VPs /above at megafund please? I know it depends on the fund/group, but a broad description would be really helpful! Does it get slightly better as one progresses through the levels post-VP as well? Thanks!
The Effect of the Mega-Fund
Recently, an article was ran in Fortune magazine concerning how VC mega-funds are widening the funding gap (Link: http://fortune.com/2018/03/22/venture-capital-fun…). Firms such as Sequoia Capital, Battery Ventures and more are raising millions of dollars and expanding their funds exponentially....
Summer Analyst—GS Coverage vs PWP vs CV
Which would you pick for a summer analyst - GS Coverage vs PWP vs CV? Exit opps to MF is a primary consideration
Megafund Credit to Bschool
I'm planning on joining the Credit team (looking at HY specifically) for a MF firm (GSO, Apollo, Ares, Bain Capital) as a first year analyst out of undergrad. I'm obviously aware of PE placement from these firms but are Credit analysts/associates looked at in the same manner? My goal is to...
2017 On-Cycle IBD=> PE Timing
Hi all, Any idea what recruiting timing is going to be this year? I've generally heard that the process is going to kick off with one of the large funds going in mid-January, but is it likely that recruiting happens during MLK weekend? If anyone has any inside visibility (shot in the dark here)...
H/S/W to Credit MF
Hi, is H/S/W to MF Credit (BX Tac Opps/GSO/ KKR Credit/Apollo Credit etc.) an achievable goal in the US? I know they hire mostly laterals from LevFin/ HY /Restructuring in London but then London has less of an MBA focus in general. Eg. when HBS jobs report mentions BX , is that only for LBO? or...
Best Groups in Hong Kong for Buyside Recruiting
What are the best banks/groups in Hong Kong for recruiting for buyside positions in mainland/HK? Would also be interested in hearing where past analysts from the said banks/groups are headed.
Second-tier PE funds
If we consider the top tier PE funds (and ultimate career goal) to be the megafunds (i.e. KKR , Blackstone , TPG, Carlyle, etc.) then what's the following tranche? Which funds are good as an inbetween stepping stone from IB to mega-PE/B-school for pre-MBA's? I currently work at a top I-bank as a 2nd...
Quality of talent at Megafunds?
What's the difference in quality of talent at a megafund vs. MM PE vs. smaller PE shops, at the junior entry level? I'm not sure if talent at the junior level is pretty consistent throughout the PE landscape because getting into a fund is more the luck of the draw or whether there are material...
Chicago - Megafund placement
Hey guys, Seems like a lot of the Megafunds do not have offices in Chicago. Saw on one old thread there were two people fighting back and forth regarding this so I just wanted to settle it out here and see what the real deal was. Do top groups in Chicago frequently place Analysts at Megafunds? If...
BAML Best Group for PE?
I accepted an offer to join BAML this summer as a sophomore IB analyst. I am wondering which group would best position me for PE . Right now I am debating between LevFin and Financial Sponsors.
Megafund Question re exit opp discussion
When people refer to exit opps to megafunds, are people just talking about the PE arm? For instance, KKR has "85 investment professionals" in their credit arm. This applies to a lot of the other big names with credit arms or "hedge funds." It seems like people only refer to megafunds in the context...
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