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Books/Resources/Advice for PE Recruiting
Long time lurker on a new account. I'm an incoming 1st year IB analyst. Was wondering if anyone could suggest books or other general resources to help prepare for private equity recruiting. Have already checked out the LBO chapters of the Rosenbaum book, and currently reading Moyer's book on...
Meeting With Someone In Private Equity On Friday ADVICE NEEDED
I have been cold emailing firms the past week and got an email from a legal counsel ? at a large PE firm. He said they get tons of resumes sent in and can't fit everyone but he would love to meet me on friday to talk about why I would fit in and my plans. He said he would add me to the list. This...
PB shops with PE funds
Hey guys- I am looking at banks with PB functions (so think MS/ GS / Citi /Boutique PB) that also raise Private Equity funds. Would the PE fund be considered an investment manager from an operational standpoint? Investment Advisors in PB typically recommend asset allocation strategies to their...
Career change- state school- non finance to IB/PE
Hello All, Looking for some help in transitioning into IB / PE . Biology major from non-target ( California state school), 3.4 GPA.. Taken accounting courses and intermediate econ courses at JC and Cal state GPA 4.0. Surely, I need to get into a killer MBA program to my career started right? I was...
LBO Model - No Historical Financials
Doing a Private company lbo model with no historical financials but just financial projections and a target IRR . Any thoughts on how to derive working capital / balance sheet since I don't have no historical financials?
Sophomore Year- Investment Banking Vs. Private Equity
I'm in a really fortunate position in that I can choose between interning at a lower middle market private equity firm or a middle market investment bank which has a little more of a name brand (they do $15-20 million range deals) As a sophomore at a semi-target, which one would you guys recommend...
How to have it all and blow it with greed
Amazing story of how it took SEC 10-years to pin down Greenwich PE fund Oak Investment Partners partner Iftikar Ahmed who is now a fugitive. (link inside the post). [quote] Harvard, Goldman Sachs, Venture Capital…Fugitive Iftikar Ahmed appeared to be an immigrant success story, but prosecutors and...
Thoughts on Portfolio Management in REPE?
Recently offered a job in portfolio management at a REPE fund (about $1B AUM). It wasn't the original job I applied for but they think I would be a good fit there. From my understanding, once a property is acquired, I would be "managing the investment" (ie. periodically adjusting the models for any...
Secondaries PE to Direct PE?
How common / likely is it to move from secondaries PE to direct PE? Wondering if moving into secondaries will rule out any chance of moving into direct PE down the line, if secondaries doesnt prove to suit long term This is at the Associate level btw
Ivey vs. Columbia Value Investing
For those who are interested in a value investing career, there seem to be two good options - the Value Investing Program at Columbia and the Richard Ivey Business School in Canada. It is the only other program that I know of with a separate specialization in value investing. In Ivey's case ... the...
Military to Non-Target Southwest State University To Private Equity For Pension Fund
Hello, I was in the US Air Force for 4 years, left to finish college at an extremely non-target college in the southwest and was able to break into Private Equity for a state pension fund. I have competed against peers from all over the country, including some a Ivy League schools and have worked in...
Spanos Barber Jesse
Has anyone heard of them? They raised their first $204MM fund in late 2015 and have made one investment so far. http://sbjcap.com Any info on reputation of the team or anything really would be appreciated. Thanks!
If you could wave a
..
The academic life of a Whartonite?
I want to be on the other end of the phone!
I have a bachelors degree in communication, currently work for a financial services firm that handles high net worth clients. I am a business development associate. I am great at calling prospects and turning them into qualified appointments, some have become great clients of the producer I work...
LBO Case Study Help!
Hi Guys, I have several interviews coming up and I have started practicing case studies. I have done a search online and saw the below case study posted on WSO several years ago. Can someone help me with this? I am not sure how to treat the shareholder loan... How does one approach this? Appreciate...
Vice President Fund Carry/Equity
Hey All- I have been negotiating an offer with a PE firm to come on as a VP. I actually have worked for this same firm before, left for a few years, and now they have roped me back in. They are currently in the process of raising their second fund (sub $500mm target) and since it is still small, my...
Investment Process
Can anybody recommend resources on detailed investment processes, or shed some light on this topic of PE? Thanks
Sales vs. Finance
So I'm at kind of a crossroads here, and maybe the choice is obvious, but here it is. Hoping for some honest feedback. I'm a walking red flag, didn't get it together until I was in my early 20's and now I'm close to graduating from a non-target in accounting/finance. I have major connections in 2...
McKinsey - Can I Cut it?
Hey WSO'ers! Had to make a throwaway for this one, any advice greatly appreciated. I recently received an offer to work at McKinsey & Company which I am ecstatic for but also apprehensive of. I currently work in a FO buy-side fixed income firm and have been thinking of moving on as my position is...
Private Equity sales representative responsibilities and compensation at boutique investment bank?
Hi Guys, I just got an interview for the position of Private Equity sales representative with a boutique investment bank this week. Their main focus is in PIPE and M&A . Does anyone know what kind of responsibilities a private equity sales representative will take in smaller teams like this? In the...
Stone Point Capital - Office
Are any members of the investment team based in New York? Or is everything mostly in Greenwich? Any further info on this shop would be great.
Working on a $2bn LBO - Q&A
Full-Time Private Equity Internship - Now
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MM London Associate to PE
Opinions needed regarding how difficult it is to move from MM M&A Associate (post MBA Ivy League - Top 3 US MBA) to a middle market PE or HF in London or Frankfurt. Background in Management consulting and summer internship at BB M&A team in London. TO add: Not going to BB IBD post MBA , since I...
What are some PE conventions that is a must attend for working professionals
I hear that there is about three organizers for PE conference that is a must attend. I am currently working at a LP firm, and is looking to build the GP contact and database. I think meeting PE professional at conference is probably good use of time. I know there is an annual PE / VC conference in...
Purchase Price Allocation in Real Estate Portfolio Acquisition
Have a question on purchase price allocation. I have drawn up an example below. Portfolio - 100 industrial buildings - 250 tenants - Average size building 200,000 SF - 20,000,000 SF - Occupancy 95% - Market Rent $0.50 NNN / month - Yr 1 NOI - $114,000,000 ($1.14M) - $1,900,000,000 ($1.9B) Purchase...
IRR of Bankrupt Transaction?
When a PE deal is exited through bankruptcy, is the IRR considered -100% or does the PE firm recoup anything to make it more than that?
Summer 2016 PE Recruiting Still Going on?
Does anyone know of any shops still recruiting? I've met with all the recruiters and I thought the meetings went well, but I've only had one interview. Yes I know it's off cycle (as subject indicates im looking for summer 2016), but I would have figured I would have had some interviews by now. It...
Second Round Interview Tip for Incoming College Freshman
Hey all, I'm an incoming freshman at Harvard who will major in econ and dual study finance at MIT Sloan School of Management. I've been in contact with a PE firm in my hometown and spoke with the HR rep via a phone interview who told me that she liked my resume and they want to bring me on as a Jr...
Consumer PE
Anyone have a good answer for "Why consumer PE?"
2017 MM PE Recruiting
Did I miss the boat entirely on 2017 MM PE recruiting or is it still going on? Have spoken with various head hunters in the past month and have yet to receive an interview...
Private Equity - Thomson One
Does sb. of you have experience with Thomson One? I'm a bit confused right now: I now that the two main subgroups of Private Equity funds are Venture Capital funds as well as Buyout funds. Since I want to look at the investments of these funds (especially Buyout deals) I'm getting confused. In...
Position title for Experience Section Advice
Which is the better title to use for someone who interned in real estate at a private equity firm, "real estate private equity summer analyst " or "private equity real estate summer analyst"? Thank you for the input.
Is it worth going in debt for a masters in real estate program?
I graduated in August 2015 and am still looking for a job in real estate. I really started aggressively looking (i.e. talking to multiple people every day, sending out emails left and right) at the beginning of January. Prior to that I was taking some RE courses and teaching myself ARGUS while...
Sources to Identify New PE Funds
Does anyone have any good sources to identify new buyout funds, preferably by location & size? I have exhausted the likes of capiq, pitchbook, and axial and am curious if anyone has had luck with any others.
How have GHL exits been?
Had a question on GHL recruiting. I've heard they've had recent uptick in their deal activity, and I'm intrigued by their culture/generalist structure/class size? However, I don't know as much about their exits vis-a-vis the other EB's...how has MF recruiting been in recent years, and what outlook...
PE Recruiting as a 2nd Year Analyst
For those of you who have stayed in banking for 3 years before moving to the buyside, what is the timeline for recruiting in your second year? How were you received by headhunters/ buyside firms given additional experience? Thanks
Ivey Value Investing Program - A Substitute for Columbia?
Sorry for the length…. I am wondering if anyone out there can shed some light on this/ open a conversation on the topic. For those who are interested in a value investing career, there seem to be two good options. First and most famously there is the Value Investing Program at Columbia. Obviously,...
Rewind - Why companies are staying private longer and how that creates opportunities for PE/ Growth equity / VC funds + Q&A
In case you missed our May 14th webinar entitled Why companies are staying private longer and how that creates opportunities for PE / Growth equity / VC funds. , have no fear. The full recording of the webinar can be found below (free for only 24 hours and then it goes into our video library ). Do...
Mid-Market PE Valuations: Where Up is Down
With U.S. stock markets near record highs, and M&A activity on-track for another big year, there has been much commentary about whether markets have once again detached from intrinsic value. By and large, the labour market has returned to normality, the housing market has recovered, and consumers...
First Round Blackstone Private Equity?
Has anyone heard back from Blackstone about their Private Equity internship and been given a first round interview? I'm curious whether they already contacted people or not.
Sophomore PE Internship
Does anyone know details about the firm Veronis Suhler Stevenson ? What is their reputation? How would a internship from a middle market PE firm like VSS set me up for IB recruiting in the fall? How does this internship compare to a boutique IB internship?
Infra PE -> MBA -> VC?
Did 1 year in TMT at a MM IB (think HL /JEFF/PJ), then moved to a Tier 2 place for 1.5yrs (think NOM/ RBC /HSBC) to do Power, Utils & Infra and now have an offer at an Infra PE fund. Fund is about $5bn AUM (so not big), but deal flow is very high (quite possibly highest in the infra PE space) so...
Accounting Due Diligence - understating debt
Hey monkies - my PE prep book says that in accounting due diligence, Accountants make sure that "any outstanding liabilities are categorized properly as debt or working capital. "this is important because debt is subtracted from the purchase price, so sellers have an incentive to classify iffy items...
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...
Are MBAs becoming less important?
Interesting blog post from Fortune, which talks about how prominent PE firms such as GTCR are no longer requiring their associates to attend business school. Rather, promising associates are being promoted from within. A similar trend is happening at MBB consulting firms, which used to kick out...
Congruent Investment Partners
Has anybody heard of Congruent Investment Partners in Dallas? Does anybody know anything about their reputation, exit opps, Cultuer, people, pay etc. ? They seem like a smaller Main Street Capital with their focus on middle market debt and equity investments.
Internship Choices (PE vs IB)
I am currently a sophomore at a target school and have the option of spending this upcoming summer interning at a MM PE fund (around $5 billion AUM) vs interning at a small no name boutique IB . I am looking to lock in a SA position at a BB IB this upcoming fall but eventually planning on pivoting...
Webinar Rewind - Co-investments and Fund of Funds Overview + Q&A
In case you missed our March 25th webinar entitled Co-investments and Fund of Funds Overview , have no fear. The full recording of the webinar can be found below (free until Tuesday 10am et when it goes into our video library ). Do you want to a 1 on 1 mentoring session with John? Click below:...
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