MF PE recruiting for junior summer
Does anyone have advice or some guide for MF PE summer analyst recruiting? Just finished up freshman year at a target, I'm non-diversity, will be working at a $4bn PE fund this summer, and have my technicals down. I know that BX, Silver Lake, KKR, TPG (unstructured), Warburg, Oaktree, Vista, Ares all recruit out of undergrad/have (have had) internship programs. What should I be doing throughout this & next year + next summer to maximize my odds? Also I'm interested in corporate PE, not REPE or credit.
I could do BB next summer probably, but I could also work at a few large credit HFs. Which would be better? Would you take Goldman over large credit HF is goal is MF PE junior year/FT? Thanks in advance.
How do you have your technicals down what did you do to prep?
Hey, as a summer analyst this year at one of the megafunds you mentioned, I would highly highly recommend dedicating time to pure reading. Not just stuff like Liar's Poker, but books that are less fictional/storytelling oriented and more informational - margin of safety, Buffet's investor letters, Marks' books, and maybe even some Taleb. Personally, I could tell that what made a real difference in my interviews was that I had a more developed investor perspective relative to my peers in banking. Besides just spending time understanding how to view investments, internships are crucial. An internship at a large credit HF is good, but if you want to do PE it isn't as useful preparation imo. The principle of downside protection is very different from the opportunity-oriented focus in equity investing. You could, however, spin it in your interviews - since you've done PE your freshman year, and would have done credit at a respectable HF, your story for 'why PE' will be more developed. If the credit HF is actually large and well respected, I'd definitely take it over Goldman.
Hope this helps a little. Best of luck!
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Hey, any advice in preparation for the MF role as an intern? Aside from reading for interview prep, what else would you recommend going into PE?
Does networking play a huge part in getting the interview like IB? I'm aware that recruiting at PE has headhunters more involved.
I’m also at one of those funds for the summer. Definitely echo this comment. Would add two things.
Finding a mentor early on is crucial (usually an upperclassman who placed at a good bank/buyside). They can lay out the landscape for you and give you a broad sense of how recruiting actually works. If you can convert all of the time that you’d normally invest spinning your wheels trying to understand how to properly format a cold email into actually learning about business analysis, you’ll be much better off.
On that front, read as many 10-Ks, public investment memos, and industry primers as possible. If you commit to this early enough, you’ll get a much more intuitive sense of how companies work and what goes into a good investment.
Can you share some other technical books?
Mastering the market cycles by Marks, the new book that came out - Caeser's palace coup, and p much any of the highlighted favorites in Berkshire's annual book review
I'm in an almost identical situation. PM me if you want to share info.
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OP could you PM me? Similar background -- thanks.
Been through the wringer, PM me, would be more than happy to chat
Are you white
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