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How Does a Jefferies IB analyst look to PE Recruiters vs a Bulge Bracket


WSO Private Equity Resume Template for Professionals with Deal Experience is Released!

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Big Announcement: WSO Private Equity Official Resume Template for Experienced Professionals with Deal Experience is Now Public!:

Click here for the free investment banking resume template for college students.

For those of you with deal or project experience coming from Investment Banking or Management Consulting, looking to make sure your CV format is clean and make sure that your private equity resume is polished for those competitive buyside jobs in private equity and hedge funds, we have a great sample resume you can now use free of charge (attached to this post below). We're hoping this clean format gives you an even bigger edge in recruiting (besides being members of WSO :-). Also, don't forget that our private equity interview prep guide is now available after years in the making (here)!

As I mentioned earlier in the week when we released the investment banking resume template for undergraduates, we think the WSO templates give you a lot more flexibility on spacing. It's tough to condense all of your deal experience into a coherent summary, so we hope this is helpful (keep an eye out for the Private Equity Interview Prep Pack which we expect to have a beta version released by the end of February 2014)

This is the PE resume template we use in all of our the WSO resume reviews with experienced buyside professionals.

This particular banking resume sample is for experienced hires, not undergraduates. You should also not take these bullets since they just being used as placeholders / examples and aren't that strong...

Thank you all for supporting Wall Street Oasis!
Patrick

ps - please feel free to share this post and pass it along to your friends in banking or other finance positions

pps - remember, if you are looking for real finance professionals (including talented PE and HF pros) to help with your wording and bullets and tough decisions on what to cut and what to keep, please consider our industry leading resume editing service, specifically targeted towards investment banking, private equity, hedge funds, trading, management consulting and other finance resumes...our testimonials speak for themselves: http://www.wallstreetoasis.com/wso-finance-resume-review :-)

AT Kearney to Private Equity

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I'm an undergrad senior at a non-target. Have a long-term goal of going into a top PE fund in the APAC region. I currently have offers with A.T. Kearney, Mars & Co, and a final round coming up with Deloitte Consulting S&O. Wondering anyone's thoughts on exit ops into PE from any of these firms (assuming I get the Deloitte offer).

Do Post-MBA Bain Consultants get PE offers?

Private Equity Interview Prep Pack Version 2.0 is Out!

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Ready to tackle the toughest private equity interview questions? Recruiting season is right around the corner and just in time we've released version 2.0 of our popular PE interview Prep Pack.

This new version includes:
- 9 LBO Modeling Tests with VIDEO solutions (15+ hours of content)
- 30+ additional videos integrated throughout the guide
- 5+ webinars and counting from actual PE professionals...

+ much much more...

Learn More Here

I am super pumped about version 2.0 since I think we really raised the bar with all the extra video content and video solutions to the 9 LBO modeling tests....and we're not done yet. We're already working on version 3.0 which as always, will be a free upgrade to those that get in now!

Good Luck,
Patrick

ps - for those of you that have already purchased version 1.0, please e-mail Ivy@wallstreetoasis.com your receipt and she'll get you version 2.0 for free within 24 hours!

Starting in Private Equity, help on managing deal flow, deal sources, etc.

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Hey All,

Moving to PE as a Director after 12 years in banking. Great opportunity to be 3rd partner in a billion dollar debt fund doing $20M - $200M uni-traunche debt rounds. A lot of my focus will be on managing deal flow pipeline, deal flow sources, mechanics of keeping deals moving through investment process, etc.

The other two principals are more operators than finance guys. Can anyone help lay out how you organize deal sources, manage and organize incoming deals, etc. A lot of those deal sources are my relationships. Not so much monitoring afterwards, but really the front end of getting to a closed transaction.

Excel docs, software, best practices, sharing / reporting with other partners, anything would be awesome.

Thanks!

Boutique Investment Bank -> MM PE... Advice?

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Did some searching but couldn't find a lot of info on this.

Has anyone successfully transitioned from a boutique investment bank (talking 40-60 FTE, mostly M&A deals in the lower middle market) to a solid MM PE shop (i.e. brand name w/ sizable funds)? If it is possible, how common/challenging would you say this transition is?

More generally, if you decide you are not a lifer and want to transition, what opportunities can you expect after 2-3 years as an analyst at a boutique?

Definitely appreciate any input/advice people are able to provide.

Paycut to go to small buyside firm - advice needed

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I am a third year analyst at a top MM IB. My goal has always been to pursue a career on a buyside.

I have interviewed at various buyside firms throughout my Analyst career. Made it through case studies and to final round interviews at a few places but have not been able to close an offer.

However, I was recently able to secure an offer at a small fund. It's the recently created small-cap mezzanine arm of a large financial institution with ~$350M in AUM. They look to invest ~$10-20M per position. I am fairly happy with the role and firm, but the pay is considerably lower than what I was expecting (40-50% paycut vs. third year analyst pay which I'm estimating to be ~$180-200k). It's definitely the type of role I would want to be in long term, but the pay is giving me second thoughts.

My thoughts:

Pros - Reputable buyside place. Potential to lateral into other buyside shops in the future. Get out of banking which I don't hate but don't see myself longer term. Also, I am not sure if I will make Associate promotion - have received good reviews during my time but headcount in our group may be an issue. Hours will be much better and more stable.

Cons - Pay is low. I like mezzanine debt but don't LOVE it. I have never actually worked in mezz debt. Have spent internships in the equity space and I think that's where I'd prefer to be. However, not sure if an suitable equity role will arise and the longer I spend in banking I feel like it will be harder to move. Also, say I don't make Associate promo - that would make it much harder for me to go and recruit because I will basically be labelled a failure.

Any advice would be greatly appreciated.

On the subject of comp - monkeys who have had friends go to non-PE / HF roles after PE - what kind of paycut did they take?

Thanks in advance.


b2b marketplace

http://africashope.org/thehungergamesmockingjaypart2online

Why should sponsor care about previous leverage of target company?

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Hi guys,

I've been thinking about the following issue today:

Say you have a company with $100m EBITDA, and you want to LBO it at EV = 10x EBITDA = $1bn.

Let's also assume that your (you = the sponsor) maximum Debt/EBITDA ratio is 6x, so you finance the LBO with $600m in debt and $400m in own cash.

My question is: do you as a sponsor care about whether the target company has been previously more or less levered?

My intuition is that you should not care, since you pay with 6x EBITDA in debt anyway, and you also pay the entire EV which implies that all the existing debt gets bought out anyway.

But I keep reading from different sources that ideal LBO candidates should have low debt levels, and to be honest I can't yet see why...

Any insights would be highly appreciated!

PE case study

http://allofusornone.org/the-hunger-games-mockingjay-part-2-online-video

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Some people in these Israeli communities get offended at images of women, reports Entertainment Weekly. In Bnei Brak, posters with images of women are officially censored, while in Jerusalem such posters have often been torn down and vandalized in the past, a representative of the film's Israeli PR firm said to Israeli website Ynet, as quoted by The Guardian.

How does Staffing work in Private Equity?

Part-Time PE Internships in London - any opportunities?

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Could anyone come up with a few firms that offer part-time internships in PE (or maybe VC) in London?
Right now, I only know of Better Capital that offers such an opportunity for students.
Any other places you can think of?

Thanks!


Do Post-MBA Bain Consultants get PE offers?

Private Equity Interview Prep Pack Version 2.0 is Out!

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0

Ready to tackle the toughest private equity interview questions? Recruiting season is right around the corner and just in time we've released version 2.0 of our popular PE interview Prep Pack.

This new version includes:
- 9 LBO Modeling Tests with VIDEO solutions (15+ hours of content)
- 30+ additional videos integrated throughout the guide
- 5+ webinars and counting from actual PE professionals...

+ much much more...

Learn More Here

I am super pumped about version 2.0 since I think we really raised the bar with all the extra video content and video solutions to the 9 LBO modeling tests....and we're not done yet. We're already working on version 3.0 which as always, will be a free upgrade to those that get in now!

Good Luck,
Patrick

ps - for those of you that have already purchased version 1.0, please e-mail Ivy@wallstreetoasis.com your receipt and she'll get you version 2.0 for free within 24 hours!

Historical Returns By Fund Size

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Most people in the industry know that a good chunk of funds blow up when they scale up from $100 million to $500 million AUM. I was wondering if there are any studies out there that actually break down historical private equity returns by AUM. Most studies I've seen on historical returns simply break it down as stocks, bonds, PE, HF, etc. From my limited experience, I'd say a PE fund with billions under management is almost a completely different asset class than one with <$100 million AUM. Does anyone know where I can find a more detailed study?

The fund I'm at did a pretty big scale up within the last 6 months and our investment process has changed quite a bit. When we were at the ~$100-150 million AUM level, it almost seemed like we were printing money. I was pretty amazed at how simple it was to produce abnormal returns. (E.g. buy a founder owned business with shitty operating procedures, put professional procedures in place, plow in cash to accelerate growth, and sell for a higher multiple). ~85% of our deals were sourced without using a banker or broker. Now that we've scaled up everything is much more institutionalized. We're looking at companies being represented by ibankers, that are owned by serious investors, who know what the fuck they are doing. It remains to be determined if we can continue producing abnormal returns, but it definitely feels like the easy money is gone.

Reaching out to old acquaintences

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First year analyst at a BB. I recently took some time off to come home for Thanksgiving. While I'm here I decided to catch up with an associate who used to be in my group; we're from the same area and he joined a local PE shop. I told him I'm in a similar situation in that I'd like to move back to be closer to family someday. Our catch up went well and he concluded by saying "let me know when you're ready to make the move back to [hometown], I'll be glad to help you wih opportunities at [PE shop]."

My question is...when should I make this move? Or more importantly, how should I tell him? I don't want to tell him immediately because that would seem impulsive, and if I wait too long, the opportunity would likely be gone.

On a similar note, I'm LinkedIn friends with a recruiter for another firm around my hometown; he's not an alum but he came to my school a lot for recruiting (This firm hires a lot of people from my school) and is generally a pretty cool person. Would it be appropriate to reach out to him to "catch up" whenever I'm back home?

Any small PE firms? And their target school?

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Hi America! I am from Hong Kong, working as investment in a reinsurance company. And I am looking forward to working in PE industry in the future.

I am now planning to get my MBA in USA and try for the summer analyst or summer associate afterwards. I understand as an average-profile foreigner, it is quite unrealistic to aim at firms like Blackstone or KKR. So I would like to know:
1. If there is any average or even below average PE firms that I might have a chance to try? Or any firms may value the international background much in their due diligence investigation or other tasks?
2. And what are their target MBA schools?
3. Other suggestion?

Thank you so much!

I'd really hope I could use the opportunity of studying in USA as a new start to totally change my average life, but I gotta admit I need a low entrance to start-up. Here are some basic Info. of mine:

GMAT 700
IELTS 7.5
Lived in Beijing before my college.
Hong Kong Baptist University Bsc. AP&P MATH 2015.06
Working in reinsurance company in Hong Kong (2015.06~2016.01), main tasks:
* Data/statements compilation;
* Budget compilation;
* Compliance and risk management on our portfolio;
* Investment project analysis: Due Diligence Investigation and financial /credit analysis of mostly alternative investments, consists of private placed bond, IPO, preference shares issue and loans;
* Coordination with trustees;
* Accounts management (On-boarding, KYC, contract, etc.);
*Investment Committee meetings: organizing, memoranda, resolutions and proposal planning;
* Basic office duties (signing, contracts, etc.)
Hop to Asset Management company in Hong Hong (From 2016.01), alternative asset dept.

Really desperate in hearing some advice from you all! Pls say anything you like!
Thanks again!

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