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Can someone help me out with Capital IQ Data?

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Hi guys!

I'm in a big fix.
As mentioned in another thread, I'm currently working on my final thesis at the university. The Topic is "'The Hot Debt Market - Leverage and Firm Growth in Private Equity".
I'm investigating whether and to what extend the higher leverage resulting from hot debt markets is affecting the subsequent firm growth of the targets.

I started gathering my data and created my screens and displays of columns, but due to license problems, the access for students to Capital IQ got canceled at our university. So currently I cannot continue my work and I'm scared for the outcome (and grade) of the thesis.

What i need: Information about all "Leverage Buy Outs" concerning targets in the U.S. during the time period from 01/01/1996 to 01/01/2010. This Information consists of transaction Details (Value, Debt/Equity, Date) and financial Information about the targets (to analyse the growth; industry, EBITDA +5y deal, income +5y, retained earnings +5y, total assets +5y, employees (full-time, part-time) +5y, etc. and several growth rates.).

So, if anyone could help me, it would be a huge favor and help to finish my thesis.
Of course i would give a SB and anything I can. Please PM me or just answer here.

Best regards,
Ben


PE B-School Relationship

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Hey Guys,
Was hoping to get a better sense for B-school placement from different firms. Obviously, the vast majority are case-by-case and there are exceptions from every firm, but what are the firms that have a long track record with a specific school? For example, some schools have special relationships and can almost "guarantee" placement. Below is what I've heard so far, but would be great to get more perspective especially those with more direct knowledge...

Bain Cap / Sankaty - HBS Relationship
Berkshire Partners - HBS
Oaktree - HBS?
GTCR - Noticed some senior guys are close with HBS / GSB?
Providence - CEO on board of HBS, not sure whether translates to "guarantee"

Thnx in advance.

Why did you choose to go into PE?

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I am currently preparing for an interview at a small PE fund. I was just wondering why the people here in this forum were choosing to go into PE, especially people who started their career in PE.

test20151207

Oliver Wyman to Private Equity

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Haven't seen this path covered in a while and would be curious to hear what insights people have. I'd be trying to go the route from consultant to PE (working on due dilligence M&A cases and trying to leverage that experience to get a position at an operations/performance improvement group in PE.)

I realize there's a lot of preference for MBB so I'm swimming up river in that sense, but would be very interested to hear what advice/thoughts people have for making it work.

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!

CPPIB Principal Credit Investments

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I have an interview coming up with the principal credit investments team at CPPIB in New York. Appreciate any advice on how to prepare for the interview, what types of questions they are likely to ask, etc. Thanks!

How do you guys justify 60+ hours a week in an office?


Thoughts on Leopard Capital LP (Frontier Market PE firm)?

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There's an article on these guys on M&I. I can't post that link, but a quick google search is all you need.

Frontier Market PE and this firm seems *really* interesting, but what do those with PE experience think of Leopard Capital in terms of (a) knowledge gained (b) competitiveness for future interviews at IB/MC (c) a career in frontier market PE and (d) exit ops?

Am i wasting my time interning and/or working with these guys?

Why would a Private Equity fund not use WACC as the discount rate when valuing a potential LBO target?

Principal Investing vs. Traditional PE - Energy

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hey guys - just wondering what are the key differences in traditional PE vs. principal investing in the energy sector. i have done IB for a couple years and figured it's a good time to switch to the buy-side.

interviewing at a couple places and have an offer from a bank/insurance/investment firm that has $5-10 bn invested in the energy sector. They only do minority investments so no LBOs and such - looking at $50-$150 mm per investment in either direct equity in the asset(s) itself, or mezz/debt/royalty-type structures.

i'm planning to do this 1-2 years and going off to B-school. after which, looking to transition into Traditional PE/HF type roles. It's a small group, great team and looks like I'll be doing a lot of modelling, due dili but obviously not sourcing own deals. Pro I guess when you work at a place like this is you don't have to worry about fundraising, etc.

Couple questions I have are:

1) Key differences in skill sets/experience between traditional PE and my would-be role at this role (investing on behalf of the firm)
2) Whether it'd be easy for me to switch/transition to traditional PE/HF post B-School
3) Your opinions as to whether this offer would be good for me and whether I should take it

Learning more about Private Equity

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I'm an undergraduate student and I'm very interested in learning more about the industry of Private Equity. What are some books or other resources I should look into to learn more about this industry?

Thesis - Impact of interest rate changes on PE funds

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Hey,

I'm a student and I want to writy my thesis about the impact of interest rate changes on PE funds (especially the willingness of such funds to pay more for their targets). I have a bit problem in finding relevant papers and literature which I can use as a structure...

Do so. of you have already done some research in this area and can name me some good sources?

Thank you very much!

Credit HF --> MM PE?

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I've been working at a pretty well-known / well respect credit-focused hedge fund for about 6-months now (I was an IBD analyst at a BB before) and I'm just not super enthusiastic about my job here. I don't hate it, but I think i'd be much happier in a more transactional or business-oriented setting and I think I would enjoy PE much more. Has anyone made a similar switch before or have any advice? Would it be best to try to lateral now or would it make more sense to go get an MBA (I think I have a pretty good shot a top program)?

Infrastructure PE in Chicago?

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Hello everyone. Does anyone know a solid private equity firm involved/interested in infrastructure in Chicago. I have 10+ years of principal investing experience in the space and want to move on to a good PE shop, ideally based in Chicago.


How do I transition from Wharton MBA to PE? (with non-finance background)

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I'm an incoming student at Wharton's MBA program (entering fall 2016) after two years of work at an education non-profit after undergrad.

My situation: I know based off a lot of research and discussions that I would intellectually enjoy and appreciate private equity work. I learn things very, very quickly. However, I have zero technical finance skills. I have over 7 months before I go to Wharton and have ~30 hrs/week free until then to study.

Question 1: Is there even a slim chance that I would land an internship or job offer in PE if I demonstrated I had the skills?

Question 2: If the answer to Question 1 is YES, what would a PE firm need to see as evidence that I have the skills?

Question 3: What is the most direct way to go from zero skills to highly skilled in PE work? What is the most efficient self-study books, tools, or programs available on the market?

As a Plan B, I could try to go to MBB for two years and then jump to a PE firm after becoming an expert in PE due diligence. This seems like a clear enough path. But, I'm wondering if I can skip MBB and end up in PE right after Wharton?

LBO Leverage - Rule of thumbs

Private equity chances from a top 30-50 b-school?

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How big is my chance of getting into private equity if I get an MBA from a top 50 bschool? Open to working for boutique private equity funds anywhere in the US.

Work experience pre-MBA is in a boutique alternative investment fund in Asia. Experience in closing deals but not exclusively private equity deals

When to begin PE networking if at all

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Hey guys,

I'm a current college senior and about to begin an analyst stint at one of the top BB's in a good group with solid placement. My question is in regards to PE recruiting. I've seen people make reference to this, but I've not seen many direct responses and answers that I have seen have been somewhat wishy washy. I'm wondering if I should start reaching out now to people at some of the PE funds I'm interested in? I'm most interested in working at one of the MF's or upper MM firms in terms of deal size, but my understanding is that much of recruiting comes from head hunters reaching out to you. I don't know many people directly at a lot of the funds I'm most interested in, but I go to an HYP school and went to a well regarded high school, both of whose networks helped me land the job I'm about to start now. I got that process started during my freshman year of college, but I'm wondering if it's even a possibility for PE recruiting with HH's being involved. I'd love to hear some input from some of you with experience. I'll probably be reaching out to various people since I actually like meeting new people who work in the industry I'd like to get into, but I'm wondering if there's any value here besides general learning and the conversation itself. If you've gone through the PE recruiting process but could look back in hindsight and act from where I currently stand, would you be reaching out now?

I appreciate any thoughts that you all might have.

Calculating Levered FCF

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I've started interview prep for PE and I've noticed some inconsistencies between how levered FCF is calculated between guides and model tests. Thus far I have seen three types of calculations:

1) EBIT*(1-t) - capex + D&A - (change in NWC) - AT cash interest
2) EBITDA - capex - total taxes paid - (change in NWC) - AT cash interest
3) Net Income + D&A - capex - (change in NWC)

I was wondering which one is correct and which one is most often used by PE shops. I think the big difference between the 3 is how the tax effect of D&A is modeled out. I believe the first one is the only one that properly models out the fact that the tax effect of D&A is a non-cash effect, that the taxes paid, calculated via multiplying by 1-t, is cash taxes paid, which is what actually influences CF.

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