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Explanation of Advanced Private Equity Deal Mechanics and Ratios
Want to break into a UMM/MF buyside seat after graduation, got contacted re processes with some funds running analyst programs through HHs, background ivy, MF PE and EB RX internship experience in NY. Wanted to gather some thoughts and explanations on advanced private equity deal mechanics and...
What is the difference between Sam Bankman Fried's "FTX" and any other bulge bracket bank?
Why was Sam Bankman Fried's company "FTX" relocation of customer funds to separate financial ventures considered illegal but when the big bulge bracket banks do it, its legal? The big bulge bracket banks like Chase use money from customer deposits/savings to lend out in the form of Mortgages and...
How Hard is it to Hold Onto Your PE Seat?
Obviously this is a function of rates/the current market, but seems to me that lately a lot of associate level folks in PE on this site are posting about being forced out / feeling anxious about not having a PE seat for much longer. It's a given that MF funds tend to have 2&out programs, but for...
Co-investment Case Study
Hello, I am working on a co-investment case study (it is almost an LBO model test from my perspective): That target company is a fictitious public company. The sources and uses are quite straightforward to compute, although I am not sure whether to use Total Equity Value or Total Enterprise Value in...
How underpaid is this in PE?
A friend at a LMM PE firm was offered $100k base + $50k bonus as a 2nd year associate. This seems well below market right even for a sub 300M fund?
Need a Change of Pace... Flat Hierarchy Firms
I can't deal with this hierarchical bull anymore. I am at MF doing tech PE right now, but I hate the bureaucratic nature that comes with it – I feel stifled. What are some places where I can continue being an investor that has very flat hierarchies? Any specific firms or broader categories of...
Syndicates/Investing into PE firm as an LP
Would anyone be willing to chat about their experience investing/setting up a syndicate? I have an oportunity to invest into a strong PE fund's next vintage and looking to learn more about people's experiences with syndicates
Syndicates/Investing into PE firm as an LP
Would anyone be willing to chat about their experience investing/setting up a syndicate? I have an oportunity to invest into a strong PE fund's next vintage and looking to learn more about people's experiences with syndicates
Ivy Engineering Bachelors+Masters+F50 R&D -> IB/PE/VC/etc
Hi all. I’m a senior Mechanical Engineering major at a T10 school (think Penn/Brown/Duke/CalTech/etc). I’ll be graduating with both my BSE and MSE in MechE. I've completed my master's during my undergrad to enhance my technical branding for VC. My long-term goal is to work in finance or S&O...
Uni Pension Plan (UPP), Canada
Anyone has info regarding Uni Pension Plan? (Didn't type the full word since it would be moved to another forum) They are a newly formed pension fund for unis across Ontario, Canada. https://myupp.ca/ Any information about culture, their investments, pay, interviews would be great.
Thoughts on Big 4 M&A Consulting to PE
Hi all, I am a senior honors student at a semi-target with a full-time Big 4 M&A consulting offer, and I'm looking to transition to PE in 2-3 years. My background includes a 3.7+ GPA, a lower-middle market PE internship first year, valuation and advisory consulting sophomore year, and an MM IB...
Reaching out Linkedin
Hi all, I have a healthcare license (not MD) and worked in the hospital before. Then, I got my JD. About to send job requests on LinkedIn. How likely can I leverage my work experience in healthcare if I'm applying to healthcare PE? I didn't do MBA nor studied business in college. I feel JD is quite...
Mercer Alternatives Program?
Anyone have any insights on Mercer's Alternatives team? recruiter made it sound like a PE FoF investing role with some sort of consulting mixed in?
PE case interview - prep advice
Hi everyone! I'll have an interview for a PE analyst role at the development bank that is focusing on PE and VC in emerging market. There will be an offline recruitment day with all rounds of interviews happening on the same. On top of fit interviews, there should be a 45-min case study. Do you have...
simple LBO question: taxes and interest expense?
hi team... i am confused. scenario below: Tax rate = 40% EBIT = $150 Interest expense = $100 Every template LBO model I see would calculate taxes by taking $150 - 100 = $50 * 40%... However, I am also seeing online that interest expense is not fully tax deductible... that there is a 30% limit of...
Oncycle Private Equity Recruiting Canada (Class of 2025)
What did oncycle look like for PE this year in Canada? I heard Altas did oncycle in August, but not sure Brookfield or Onex participated in it. Any idea which firms have or have not hired, and when the ASO class of 2025 will be hired if not during the August oncycle wave?
What’s the Best Path into VC?
Hi everyone, I am currently a freshman at a non-HYP ivy, and I’m pursuing a CS/Econ double major. I’m pretty overwhelmed by all of the career paths open to me, so I’m looking for some guidance. My ultimate goal is to go into GE or VC and help grow technology companies, but that isn’t set in...
Advice on lateral recruiting in PE
Hey everyone, I need some advice. I’m a British (need H1B) student at a top target with a very high GPA. I recruited for a BB in London for my junior summer but realized that starting in the US would be better for me career-wise. So, I networked starting my junior spring (spring 2023) and tried...
REPE Final Round Interview (Investments)
Hi All, I have a final round interview with a Canadian REPE fund coming up (KingSett, Starlight, Hazelview, Alignvest). I was just wondering what these interviews typically look like and what to expect in them?
Distressed (Early) Tech Buyout - Revenue vs. EBITDA multiple-basis for entry vs. exit valuation
Hi monkeys, I'm sure this topic has been discussed a number of times, but prepping for a case study for an early "distressed" tech buyout shop (focus is on acquiring c.$10-30m revenue businesses (c. $10-60m EV; no debt used to finance buyout) which are primarily unprofitable and then flipping once...
Thrivent PE Team in Minneapolis
Hello, Have we worked with this fund before? If so, what was the culture, career and comp progression like? From what I read, they do more of co-investing than of traditional buy-out but please correct me if I am wrong. Thank you in advance.
Strong MM IB vs LMM PE
Currently considering two different offers in London: Strong MM IB Mid-level analyst (HL RJ etc) vs Investment Associate in LMM PE (Less than £200m AUM) in a very narrow sector vertical (Less than £200m AUM). My background is B4 Audit > B4 M&A. PE is my long term career goal, but concerned this...
Is a Dual Degree in Management a Bad Idea if I Want an MBA?
I intend to migrate to the US, and I've found that getting an MBA is the most convenient way to network and get a job in IB or MC until I finally crack into PE. I realize this would be unnecessary under ordinary circumstances, but we all know it's practically impossible to get a job in the US with a...
Deciding between staying at small growth fund or take MM IB job for PE recruitment (post IB layoff)?
Hi all - just wanted to hopefully get some perspective from people here as I try to make a pretty important decision. I was previously a first year analyst at a top MM bank (think HL, Baird, Jefferies, etc.). The firm I was at had massive layoffs earlier this year and I was suddenly thrust into this...
Start up PE
Anyone who joined a PE firm before the company raised a debut fund, what level did you join and how did it go?
MBA After A Dual Degree In MiF And MiM?
I'm considering getting an MBA after my dual degree in MiF and MiM because I want to migrate to the US. This is the most convenient way for me to establish myself in the states since I'll be able to network and get a job when doing an MBA. My goal is to work in PE so I'll probably look for something...
LBO of private company with management reinvestment with a lot of cash on B/S - help needed
Dear community, I would appreciate your advice on the following. I am analyzing an LBO of a private company and am getting a bit confused regarding management reinvestment / rollover. Assumptions: 1M EBITDA, 10x multiple, no debt on B/S, 2M cash on B/S pre-transaction Hence, 10M EV and 12M Equity...
Private Equity - Growth vs Buyout next 5-10 years
Given uncertainty around the economy as well a high interest rates, does this affect whether growth or buyout areas of PE are more or less attractive relative to each other? Buyout by nature uses leverage whereas most growth investments are pure equity due to not wanting to put an interest burden on...
Goldner Hawn in Minneapolis
Hello, Have we worked with this PE fund before? Could you please share your perspectives about the fund: culture, comp progression, career growth? Appreciate the inputs in advance. Thank you!
Temasek Off-Cycle
Hi mates, has anybody heard from the OC 24 for Temasek? Superday is supposed to be close but I have not heard anything after Round 2. Curious to see if anyone is on the same boat. Cheers
Upskilling in a slow PE environment
Working in PE at the moment but a slow M&A environment and lack of deal execution experience has me feeling rusty and like I'm not developing my modeling skills at all. Any suggestions for how to upskill in this area? I've tried modeling courses such as the FMVA program (by CFI) but everything seems...
PE Lateral Associate Interview Resources
I am looking to lateral after 2-3 years at my PE firm, and was wondering if anyone had resources to help study for the technical portion of the interviews. I know that PE interviews are far less standardized than IB interviews so there isn't a comprehensive "guide", but to the extent that people...
Bay Area PE Funds FT Analyst
Hey, I wanted to ask if there were any notable PE firms that took FT analysts out of undergrad in the Bay Area. Greatly would appreciate any help.
European Stone Point Capital
I am curious if there is an equivalent to Stone Point Capital in Europe which solely focuses in FIG buyouts? Has anyone come across such a PE? Feel free to discuss
European Stone Point Capital
I am curious if there is an equivalent to Stone Point Capital in Europe which solely focuses in FIG buyouts? Has anyone come across such a PE? Feel free to discuss
Types of Board roles in PE portfolio company boards
I recently interviewed with a managing partner for relativly senior role in a mid market PE firm, who asked me what type of role i see myself in when having a board seat in a portfolio, and compared to a basketball team where everybody on the team has a role. I kinda didnt know what to answer, any...
Need advice on a small REPE entry role
I was offered an entry role at a small ~1B AUM REPE firm and was told to expect 50% travel as the real estate development was outside my base country. Also, the fund only serves a few LPs and is not looking to expand to other asset classes. My question is, what is the general perspective on the...
PE Question
If you were looking at a company that makes screws used in an airplane engine vs a company that makes screws that are used in a washing machine, how would you compare those two end uses and what would it mean for a reluctance or willingness to switch? What are some things you would consider for each...
Is it easier to go MBB to MF or MM PE to MF?
I am currently late stage in a process with a MM fund ($1B latest fund, $2B AUM) and my ultimate goal is to work at MF or large UMM. For context, I work at MBB and am within first 2 years in role out of undergrad. Would it be easier for me to stay in MBB consulting and wait for the opportunity to...
Big 5 IB vs Pension PE
Hey monkeys, I’m in a tough decision making spot right now and wanted to ask some of your opinions. I have two offers for summer internship from Big 5 IB and PE team of a pension fund (CPP/OTPP). I ultimately want to end up on the buy side and initially planned to go into IB for exit opps. I’m...
Deal Strategy or Transaction Service in Big4 for PE exit Ops?
(Not in the US) Would a Deal Strategy role or M&A Transaction Service role (both in Big4, but different firms) be better if I ultimately want to exit into PE? Also, would choosing which Big4 be a significant factor or should I focus more on the role itself more?
Will recent stock market volatility benefit PE fundraising?
Stocks have been pretty volatile the last few weeks with a lot of big tech names -10% to 20% during that time especially with higher rates. So as an investor, wouldn’t you want to shift your money to PE which has lower volatility/exposure to the market vs. give it to LO/HF that have more exposure...
How to think about PE fund prestige and future career options?
Out of undergrad, it was pretty clear for consulting that getting into MBB would lead to significant career advantages down the line. For PE, I don't really understand how the industry works and don't have clear perspective on how much "prestige" etc. matters. I also don't know anyone older than me...
Evercore LONDON- PE Exits, Pay, Deal Size/Flow, position relative to other BBs/EBs in LONDON
For Evercore LONDON only: Does EVR London get placements into MF PE firms, or just constrained to MM (do MF headhuunters look for EVR London)? Any updates on latest salary and bonus for analysts? How involved is EVR London with large cap deals, or is it just constrained to MM? What teams are best in...
PE backed Portco compensation - need some insight please!
PE portco opportunity at $500m-$1b revenue manufacturing company. Would be director/vp level on really small team (#2 to cfo). Not a lot out there would love some help. I am in public company now so am familiar with that comp. comp expectations for this? cash 250-275? trying to understand the...
Looking for MBB/IB/PE related PT/SA/SW as an EUR 1st year student
Hi guys, I'm a first-year international student (with EU passport) at Erasmus University Rotterdam, studying International Business Administration bachelor. I'm dreaming about MBB/IB/PE career in London. After finishing my bachelor's, I'm planning to get an MSc in Finance from a top-tier UK uni...
Stick with MBB or pivot to PE Ops to get to long-term operating role
Hi folks. Currently in a top MBA program. Prior to this I was a manager (generalist) at an MBB firm. Also have a couple YOE in startups, mostly in CoS roles where focused primarily on go-to-market, strategic planning, people ops. MBB and startup experience is probably 40% traditional strategy and...
PE Internship Recruitment - Tech Prep
I'm in Canada - I was able to land a B5 IB for next summer. For this upcoming winter, I have the option of doing a co-op, and want to do it in MM PE in Toronto. For prep, I know for IB it was the guides, and then just building off the guides with some extra learning, however, what do I do for PE...
Special Sits / Credit Interviews
I'm in the process of gearing up for a few interview processes with a couple special sits and credit shops. Anybody have any info on what these processes look like - specifically, what types of interview questions did you get, what did model tests look like, etc.?
Is this self proclaimed TikTok private equity multimillionaire legitimate?
Someone please tell me does this man’s professional background add up to him being a multimillionaire in PE. His name is Sherraud Roberts, Seems like a pretty decent guy and apparently made ‘millions’ in one year in PE. Something seems a bit off especially since he mentioned he made millions...
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