Silver BananaTopic
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Marfin Investment GroupWhat are peoples opinions on this greek shop? They were in the news recently after they sold 20% of their stake in OTE to Deutsche Telekom. A Dubai SWF has a stake in them and they just released their 2007 results with a 330 euro profit. They also made a record-breaking 5.2bn euro rights issue for ...
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PE Exit StrategyWhen a PE investment goes public, how does the PE fund exit out of the investment? I know that the IPO itself allows the fund to realize the public market value of their ownership stake in the PC, but obviously they dont dump their stake on the open market the day after IPO. And aren't the IPO sha...
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Veronis Suhler StevensonAnyone know any info on this MM media-focused PE shop? AUM, compensation, exit opps, etc..? Just curious because I have an offer to intern with them this summer as a college junior. What are the chances they'd hire me full-time after this summer?...
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Good small/middle market firms in New YorkHi all, I'm a first year analyst at a BB and am starting my search for post-banking exit opportunities. Everyone knows about the mega funds, but there doesn't seem to be a lot of readily available info out there about solid smaller and middle market shops. I'm looking for places that don't have a so...
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Consulting BiasLadies and Gents, I'd be interested to hear your thoughts on firms that quite clearly have a bias towards hiring ex-consultants. For example, take a look at the team that comprises Charlesbank Capital Partners (http://charlesbank.com/team/team.asp). Every individual at the associate level is ...
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MBA correlation with PEThis obviously will not put the argument to rest, but may be useful to check out. Undergrad degrees and MBA by school per 6 top tier funds. http://bankersball.com/2008/02/26/private-equity-firms-universities-whats-the-relationship/ ...
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PE MultiplesCan anyone working in PE tell me what some multiples you should know if you're going into an interview.... 8-10x EBITDA - TEV 5x Ebitda - Debt That was the most recent I saw... was in WSJ. Preparing for interview, what type of technicals should I be expecting? Position is analyzing existing PE i...
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Market ConditionsAny thoughts on some of the implications of the current market conditions on PE...? In addition to obviously tighter credit, and maybe some buyout opportunities(BSC for example), does this type of mkt have any other significant implications on PE? Just want to get some people's thoughts....
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Pharos FundsHas anybody heard of the Pharos Capital Group? Any info on the fund would be greatly appreciated....
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List of VC shopsHi, I'm looking for VC firms to apply to. I've got intern experience in PE buyout and will have some M&A BB banking experience and I'm looking for a FT job with probably better hours and a slight paycut. Can anyone provide me with a list of VC funds (maybe over 1billion)? And how long are the typi...
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PE LiquidityCan anyone give me their input on liquidity of a PE investment? I know some firms offer liquidity services where they value and sell a PE LP's stake to another party. Does this have any effect on the fund? How is this usually done? Is there a significant discount/loss incurred by the seller? An...
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Getty Images DealInteresting articles about the Getty Images buyout... heres one of them: http://blogs.wsj.com/deals/2008/02/25/thinking-outside-the-box-in-the-getty-deal/?mod=sp_deals. I was just reading about this deal and was wondering what some of you thought about: - Hellman & Freeman using, for the most par...
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Getting In: Emerging Markets PE from International Development?So, I've been lurking on the site for a while, but thought I might go ahead and solicit some opinions, as I'm ready to try to make the industry switch into PE. I’m interested in transitioning to a boutique PE firm that is involved primarily in emerging markets. I’m almost 30, have an MBA in i...
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iFundAnyone see the press release about KPCB's iFund? Jesus, if I was an institutional investor I would be putting in as much money as they would take... getting info straight from Apple + a very well sized fund for the purpose + KPCB's rep -> they would have first dibs on the most promising opps....
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PE Resumes - QuestionsI wrote a post earlier today on crafting your resume when applying for private equity jobs (Private Equity Resumes), focusing on the proper structure, how to write about deals, etc. Here's my question for the board: is this advice right? It worked well for me when I was recruiting for private equi...
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Paul Capital?Hi everyone, I've been lurking on this forum for about a week now, and this is my first post. First of all, let me just say that this is about the most informative site on finance careers out there! I have a first round interview coming up with a PE firm, Paul Capital Partners, and was wondering ...
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When do interviews start?For the big PE shops as well as the smaller ones? Have any begun already?...
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GEMBAfundsAnybody ever heard of them, I can't seem to find much/any significant information about them?...
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MBA necessary?Is an MBA necessary to break into a top fund (if you're coming from IB at a BB)? Anyone have personal experience i.e. lack of MBA prevented them from landing a job or vise versa?...
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PE FinanceHow are the exit opportunities for a junior summer internship in the finance department of a top PE firm compared to being an investment banking summer analyst at Raymond James in New York if I am interested in pursuing a front-office position in private equity for full time? Thanks...
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What compensation to raise funds?I have been serving as CEO for vc backed start-up for the past decade. Recently I was approached by a Dubai PE firm. The firm is reputable and is forming a new US$100M technology fund. My first mandate with them would be to represnt them in North America with a target of raising US$30M for the fu...
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Interview GuidanceIm trying to prepare for an interview for a private equity group at a BB. The position is as a portfolio analyst. Analyzing the PE funds/portfolio companies comprising the BBs FoF's. Can anyone can share any experiences about working in PE be it an investments role or portfolio analyst role? Has...
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VC right out of UGWhat do people think of the opportunity to work as an analyst at a vc fund like Bessemer Venture Partners right out of undergrad as opposed to working at a BB?...
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10 Year Outlook for PEFor the past several years, PE has been the hot field, with comp still very high. With the credit crunch, is it plausible to think that comp in this field will remain high over the next decade? Or will rates rise, hurting the profitably substantially?...
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Interview with Draper Fisher Jurvetson in a few days...Hi all, I have an interview with DFJ in a few days and was wondering if anyone has had an opportunity to interview with them. Besides fit and "trend" questions, what other aspects, issues are they interested in/looking for? ...
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Opportunity at a small VC firmI have an opportunity to do an internship at a small vc firm on the west coast. I'm interested in VC, but did an internship at a major wall street firm and enjoyed it very well. Is a VC internship viewed as highly as working at an IB? Or should I try to do another IB internship?...
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MM PE Interview QuestionsI have an interview coming up at MM fund ~300mm AUM. What type of questions should I expect to be asked? What is the best way to prepare for these types of finance interviews? Thanks in advance. ...
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SPACs - $300 M to burn...with a catchAfter having issued a SPAC several months ago I found this article in DealBook this morning to be entertaining. Certainly worth a read... DealBook: $300 Million to Burn, With a Catch http://nytimes.com/dealbook?dlbk&emc=dlbk ...
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Signal Hill Equity PartnersAnyone know about them? They are a small (100 mm fund) private equity firm in toronto. Im a sophmore and i might have a chance to work partime during school with them and then possibly in the summer. ...
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Entry Level PE PayHey guys, I might get lucky and have a stab at GS PE internship, which if I do well, will work out for a full-time offer. J/w what the typical starting salary/bonuses (if any) are. The salary database only has info on IB. Thanks in advance....
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Harvard MBA's and PE Shops why so many???It seems as though its almost a requirement to get a Harvard MBA to make it anywhere in PE....associates may come from diverse backgrounds,but higher ups are all Harvard MBA's!!! (check out bain capital website...almost all have harvard mba, not even wharton/stanford/chicago is represented).....or i...
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Public Perception of Private Equity: A DiscussionIt's become quite clear to me recently that the general public has a perception of private equity that goes beyond any negative connotations associated with banking. People have a general understanding that private equity partners have the ability to create the kind of wealth (for themselves, it se...
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Abbott CapitalPlease provide insight and information about Abbott Capital. Any info is greatly appreciated....
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Private Equity in China: Too Early to the Party?Is China ready for foreign private equity groups to complete unlevered acquisitions or LBOs? If it isn't, how many years will it take before China is as friendly to LBOs as say the U.K.? Will it never be open to LBOs like Europe or the U.S.? Is the optimism about China's future as a deal makers p...
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Deal Sourcing CompWhat can Analysts/Associates expect for comp at shops like TA Associates, Summit Partners, or Platinum Equity, where most of their time is spent on sourcing deals/making cold calls rather than analysis/due diligence. Do they receive small base salaries and then large bonuses if they source a deal? H...
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Credit Suisse PE - Prestige of the firm? I was wondering if anyone knew about the prestige of CS in the PE space esp given that they took over DLJ and market themselves under the DLJ brand. Are there still many senior ppl from DlJ there? Also, what sort of areas do they specialize in? Any indepth info of their London office will be much ap...
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Very basic VC questionSo, I'm getting the opportnity to talk to the MD of a small VC firm soon regarding a pre-mba associate position.  I'm very interested in VC, but admit its mostly curiousity and I don't know a whole lot about it.  My main question is, do VC firms use leverage in there funding of companies?  I'm ta...
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Negotiating contract without a headhunterHiya, Hope some experienced PE people can help with this question. I am currently interviewing with a mid-cap PE shop for a first-year associate position and I got the gig entirely through a senior MD in a different business area in my bank....i.e. I wasn't looking for a job, I just happened to be i...
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When is carried interest paid?Is it paid when the Fund and ALL of its portfolio companies are realized (i.e. once every 5 - 7 years)? Or can it be distributed once the LPs receive their inititial investment back. For example, in Year 2 a portfolio company is sold; the proceeds from the sale are equal to the LPs initial investm...
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List of Shops - Info Requested if Available1) Sequoia Capital 2) Benchmark Capital 3) Kleiner Perkins Caufield & Byers 4) Index Ventures 5) Draper Fisher Jurvetson 6) Founders Fund 7) Bessemer Venture Partners If you can offer info on any of these, it would be helpful. Don't need too much detail, but I would like to get some insight ...
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Venture capital versus Equity Research Hi all, Can somebody shed light on pros and cons of having job between these two sector in terms of growth oppurtunities, work life balance, prestige and of course money-making and growth potential. Given that VC offer is in a small house while equity research oppurtunity is in a BB and or indpenden...
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Advantages of not using headhunter(s)Coming from an industry group at a BB, I feel like I already have a pretty good idea of where I want to work post banking.  Are there any advantages of not using headhunters?  I know junior people at most of the groups, who I plan to contact.  At some places, however, I don't know anyone, but am ...
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Extracirricular ActivitiesHow important is having EC activities once you are an analyst for a top PE job? Hard to do things with all the hours we put in......
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Private Equity Novel Earns Stellar Reviews Praise for "Imposters at the Gate: A Novel about Private Equity":   "A must read for anyone in private equity or trying to get into private equity" -- L. Kay, former private equity professional   "The 'Bonfire of the Vanities' of this era" -- Wrigley Astor, retired finance professional   "A...
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Can someone tell me what the PE scene looks like in Asia right now?Double digit economic growth... mass privitization of SOEs... unprecedented returns on local equity indicies... I can only imagine that PE in Asia is a fast growing industry.Can someone elaborate on PE in Asia? Top firms, deals, experiences, opportunities, etc.? Also, for a candidate looking long-te...
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Biotech VCFor biotech VC (both investing in biotech firms and starting your own), what is better, a major in bio or a major in business? The job will require both, but I would like to know a good approach to this field. ...
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HUGE favor to askAny current student that gets free vault guides - can I get a copy of the VC vault guide? my email is eiu_jay24 (at) yahoo (dot) com I know this is asking someone to do something for me out of the kindness of their heart, but its something I'd really like to get.   I'm not sure what I could do to r...
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Question for experienced people working in fundsOk, so I work in a debt fund, on the asset team. We are a levered fund and a large part of our returns obviously comes from levering equity and the spread between the assets we invest in and the cost of debt. We have a 2 person liabilities team who are in charge of this. For various reasons (raising...
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Venture Capital in China?I was just wondering those who follow it more frequently than I do can perhaps give me a small outline of what's been going on in the VC industry in China, potential return rates, market overview etc. I would really appreciate this guys!...
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New PE List?Would it be possible to get a general list going of PE firms in various cities just like the one in the ibanking section?  I feel it would be especially helpful for someone like me who is not at Goldman or Morgan Stanley and would therefore have to sell my first three children just to get an inter...
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PE For Industry group analystsI am an industry group analyst at a BB, and in my 6+ months, have had 0 modelling experience. I have had some deal exposure (2 buysides that died), so I have something to talk about re: live deal exp. But compared to the M&A and lev fin guys (who don't have a lot of deal exp thanks to the market...
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Rubenstein at PE Conference, Thoughts?Just wanted to get a feel for how people on Wall Street Oasis reacted to the protests at the Wharton PE Conference.  Dealbreaker, The Deal, and Dealbook have all been covering the events.  I just wrote a post with a summary and some commentary: http://princeofwallstreet.com/2008/01/19/rubenste...
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Equity Research to PE....common...impossible?Equity research with 2-3 years experience at top three BB  with no MBA...can you go to PE?...
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pre-mba associate to associateLet's say you are a pre-mba associate or an analyst at a top pe fund (BX, KKR, TPG, Goldman).  You do well, of course.  Are you kicked out to do an MBA to be promoted?  Can you lateral (to a place of equal merit) to get promoted w/o an MBA? Thanks. ...
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Which top fund will go bust? Which top-tier fund do you guess will go bust in the current cycle (or at least miss hurdle)? Apollo? (There was an article in barrons about how many of Apollo's investments are under water (linen n things, realogy)) KKR? (a bunch of megadeals in last year) Silverlake? (if tech LBOs prove more cyc...
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Having trouble understanding how PE shops make money off of an LBO...Hey all. This sounds incredibly dumb, but I'm having a difficult time understanding exactly how a firm like KKR makes money. I know what an LBO is (purchasing a company and taking it private by way of leveraging large amounts of debt against the target's assets), but I don't understand where they pr...
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KKR Menlo Park: focused on Technology/Biotech deals & general West Coast operations?Would anyone know the size of KKR's Menlo Park office ? How many analysts do they have / hire each year ? I am assuming that office is focussed on Technology/Biotech deals & general West Coast operations. Where do they hire most of their analysts from ? GS/MS ? Do they contact people directly / u...
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Getting inI am looking for some advise for someone looking to get into PE and would be very grateful for advice from someone in the industry. My Background: 29 years old, 5 yrs experience (1 yr audit, 4 yrs in corp fin: project financing and corp development : modeling, screen targets, valuation, acquire an...
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My Exit Opps?I took an offer as an analyst with the investment arm of an insurance company. The group primarily does debt private placements for middle-market companies. My question(s): what skill sets will I develop? and what exit opportunities will be available to me after 3 years (the length of the program)?...
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PE Fund or Hedge Fund Harder To Start?Assuming that you have overcome the hardest obstacle, which is attracting initial investors, and you have raised a small amount of capital, like $25 MM or so, which would you say is harder to start, a PE fund or a hedge fund? What would starting your own fund entail? Also, how long would it take for...
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LBO Question - 5-7 years is the exit year Typically, 5-7 years is the exit year for a LBO investment. What factors determine the length of the investment (i.e. years until exit)?...
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Layoffs in private equity?With all the talk of layoffs in investment banking and other sell-side activities, will private equity be immune to cutbacks? Deal-flow is non-existent and credit markets are looking at a long-term tailspin. Should we be expected KKR/Blackstone/TPG/Carlyle etc. to discreetly lay off staff/pull offer...
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Hours at a PE/HF?So I've read quite a bit about the hours as an IB analyst, and seem to have a fair estimate of what it would entail. However, I've rarely heard anyone complain/brag about the hours at a PE or HF during the first few years, after they've just exited B-School or their stint at an IBank. I know as a so...
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Top PE JobMore a function of being a superstar analyst or more a function of being close with senior bankers who will put in a good word for you?...
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Crimson Investment / VenturesAnyone have inside info on Crimson Investment / Ventures? Looks like a pretty good middle market shop with focused strategy. Past associates going on to top BSchools and other ops....
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pe analysts vs. pre-mba associates at places like bx or mm'sfor those of you at pe firms like bx or mm's that hire out of undergrad analysts as well as premba associates--are the pre mba associates more senior than the analysts/do they get paid more? not knowing beforehand i would guess not because they should have the same amount of experience as you except...
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Pay cut moving from sell-side to PE?How often do people take pay cuts moving from the sell-side to private equity? For example, for mid-market firms, the comp range seems to be around $165-210K these days (lower end for non-NY based firms), which would suggest that some folks would have to take a slight pay cut moving from banking to ...
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Asking for a raise and how to do itWhat are everyone's thoughts on asking for a raise. Is there a good way to do so? Some background: Finishing up my first year following an unpaid internship with the same firm. According to headhunters my base is 1/2 of what others in my city are making (Denver). My comp package is: -a meager ...
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PE out of college...what's the pay?So, I'm curious...we hear every once in a while about making the leap straight to PE. I know we are easily able to find what banker pay looks like on this site... but how about PE? what does a first-year PE analyst usually get paid?...
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The Next Big ThingEvery decade or so, one "hot" sector captures the imagination of MBAs looking to be the Masters of the Universe - that big payday or that job that would be the envy of their classmates and peers. It's this glory seeking, trophy hunting and status-seeking mentality that drives the herd mentality with...
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Private Equity Salaries Associate 2006I thought maybe i should post this since members are always wondering about salaries and trying to compare them with previous years. I got this from Banker ball: We’ve got our grubby hands on a survey with 1st, 2nd and 3rd year base + bonus comp numbers for private equity associates. And we’re ...
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Dumb Question - ex-consultant vs ex-banker? If Bain Capital has historically had higher returns than any other comparably-sized PE firm (and charges 3 & 30 on an asset base that is less than 1/3 smaller than competing firms', which charge 2 & 20), why is it generally considered marginally (very marginally) worse than the Big 4 (BX, TPG, KKR, ...
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Recruiting - First year analyst I am a first year analyst at BB. When do you hear from PE / HF recruiters? Also, how do they know who to contact? Are there some recruiters that I can initiate contact with? Thanks ...
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Modeling - Been working in MM leveraged finance Hey guys, I've been working in middle market leveraged finance for about 2 years so I've gotten some very good experience in reviewing/using sponsor's lbo models in addition to using our internal template model. My question is - do PE analysts/associates typically build each model from scratch or d...
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commissionsdoes anybody know or have ideas (other than the obvious!) if I'm sell a real estate fund to PE, hedges etc what kind of commission pay can I ask for? are there hurdles? it's their first fund and mine too. help...
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Wachovia Capital PartnersI am interested in learning more about this group. Anyone have first hand experience or know someone who worked there? Any thoughts appreciated....
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Private Equity - Why did you choose it? Those of you who are in PE. Other than Money, why did you Choose PE? IF PE was not an option what would you have chosen instead? Can you please mentions your position once you answer ( eg associate analyst, age) Thanks ...
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better path for private equity??I'm contemplating taking either a job with a top notch M&A boutique or a job with a second-tier consulting firm specializing in financial services consulting. Assuming I want to do pe in a few years, which would be the better choice? These are post-mba jobs....
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Forward Year RecruitingJust wondering, has anyone heard of anything changing for recruiting this upcoming summer? Last time I checked, which was late summer of this year, almost every shop had no intention on curbing hiring for next year, but now that it's looking like a late Q1 or early Q2 comeback at earliest, I'm wond...
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PE compensation - FundHi guys, I have a few questions regarding PE compensation. Let's consider a small PE fund, with $300m AuM. 4 Associate, 4 Principal and 2 partners are managing the fund. If I understand well, fixed salaries and bonus will represent around 2%*300m= 6m to share between the 10 employees, i.e. around...
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PE hours??Hi guys, I was wondering about the long hours in PE. I know that associates at KKR or Blackstone work as much as in ib, but I was wondering if it was also the case in Middle Market PE shops (let's say less than 3bn AuM).. Could you please share your experience? Many thanks ...
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Pros and Cons of unique situation...(Help)I have a potential job situation which I think could turn into a solid opportunity. Through some contacts, I have been put in touch with 2 guys who have just started a PE fund (roughly around 100 million in capital after 6 months). One of the partners is coming from running a successful HF and the o...
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Avista Capital PartnersWhat's the reputation of Avista Capital partners on the street? I know it's founded by ex DLJ principals and recruits a large number of associates from CS IBD. ...
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HF to PE ?Need some perspective on this. I got a job as an analyst at a well respected energy hedge fund straight out of undergrad (~10b AUM). Never did banking. My group is doing a private equity strategy (investing in PIPEs alongside Citadel, Magnatar and also investing in private energy/infrastructure cos ...
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Green technologywhat are the top PE firms focused on green technology/alternative energy companies?...
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Can I have a good experience at a family-owned PE firm?Hi all, I was wondering if someone could please discuss the advantages and disadvantages of working at a family-owned private equity firm on the pre-MBA level. Certain advantages I can think of include working on small team and having lots of access to senior professionals, as well as flexibility of...
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I need to quit and get out asapI'm an entry level analyst and I need to quit my job. The hard part is that my contract states that I have to give three weeks notice, and I need out by the end of the week. Is that ever a possibility or am I being way too unrealistic? The problem is, I don't have another job to go to at the moment...
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Blackstone PE Analyst Program HOURSI was wondering if anyone has any credible information on what kind of hours analysts (hired directly out of undergrad) work at Blackstone PE. I am hearing lots of different responses on this, ranging from 'worse than IB' to '50-60', but I would really appreciate information specific to Blackstone, ...
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headhunter recommendationswhich are the more established headhunter firms with experience placing investment bankers (associates) into private equity positions? ...
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Tax Law to Private EquityOne of the other threads on this site got me thinking. How easy is it for one to go from tax law to private equity / VC? For background, I'm a JD/MBA grad with two years at a top law firm practicing primarily M&A deal tax - essentially structuring deals all day. I have met a number of tax attorne...
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How to move from banking to vc?do many people go directly from ib to vc? what would you recommend for someone starting as an analyst at an elite boutique who eventually wants to work in vc?...
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Berkeley Students: anyone interested in doing a VC case comp?Here is the link: http://beavc.org/ I realize that some may already have teams, but if anyone is interested and doesn't have a team or needs team members, I would be willing to join up with you. Its teams of 3 or 4. Just send me a Private message....
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PE fund of Fund Does anybody knows/work for a Private equity fund of fund ? What are the main differences with normal PE funds ? About working there, does it differ from a PE fund in terms of investment management etc ? In other terms would it be more vauable/lucrative to work for a PE fund or a PE fund of fund...
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Timeline?When do the headhunters start calling? 1st year? 2nd year? After bonus #s come out?...
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Why is PE considered a "cyclical industry"?I've heard this excuse many times in the recent news from firms describing their recent drops in profits. I understand how a credit crunch and an unexpected crisis could cause a decline in business; aside from unexpected, extremely rare events, what accounts for the cyclicalilty of PE? It probably m...
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Should a private equity buy CelesticaHi, I am curious if anyone in here is following Celestica (NYSE:CLS). What do you guys think about their last report? I believe it is a good company to be acquired by KKR or other PE, i think there it is not managed properly and if a smart PE goes in, it can spin it off and make a killing. What ...
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Typical SalaryWhat type of salary does a VC offer to analyst typically? How much does the size of the fund matter in respect to this? Are there any really reliable websites with VC information?...
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Blackstone-analyst positionDoes blackstone london PEG hire ppl straight out of college?...
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Citi - M&A, Communications group (M&T) Place for PEGuys, Please shed some light on the PE/HF placement of these guys? Are they top groups in terms of principle investment placements? I am deciding between Citi and ML energy at this point? please advise. ...
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Has anyone ever heard of Platform Equity/Blue Tiger?What is the reputation of the firm and any other relevant information? You are welcomed to PM me. Thanks in advance...

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