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    Private Equity Careers Discussion: February 2011

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    Alexander Poulev
    The document discusses what new entrants to private equity can expect to do, including mapping sectors, seeking management teams, financial modeling, due diligence, structuring deals, attending board meetings, and reporting to investors. It also covers the types of firms and experience that are typically sought after, such as banking, consulting, accounting, or operational experience. The document provides advice on standing out, such as having industry expertise, creative deal ideas, contacts, and the ability to solve business problems.

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    Private Equity Careers Discussion: February 2011

    Uploaded by

    Alexander Poulev
    23 views18 pages
    The document discusses what new entrants to private equity can expect to do, including mapping sectors, seeking management teams, financial modeling, due diligence, structuring deals, attending board meetings, and reporting to investors. It also covers the types of firms and experience that are typically sought after, such as banking, consulting, accounting, or operational experience. The document provides advice on standing out, such as having industry expertise, creative deal ideas, contacts, and the ability to solve business problems.

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    PE Careers-1

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    The document discusses what new entrants to private equity can expect to do, including mapping sectors, seeking management teams, financial modeling, due diligence, structuring deals, attending board meetings, and reporting to investors. It also covers the types of firms and experience that are typically sought after, such as banking, consulting, accounting, or operational experience. The document provides advice on standing out, such as having industry expertise, creative deal ideas, contacts, and the ability to solve business problems.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    23 views18 pages

    Private Equity Careers Discussion: February 2011

    Uploaded by

    Alexander Poulev
    The document discusses what new entrants to private equity can expect to do, including mapping sectors, seeking management teams, financial modeling, due diligence, structuring deals, attending board meetings, and reporting to investors. It also covers the types of firms and experience that are typically sought after, such as banking, consulting, accounting, or operational experience. The document provides advice on standing out, such as having industry expertise, creative deal ideas, contacts, and the ability to solve business problems.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    You are on page 1of 18

    Private Equity Careers Discussion

    February 2011

    1
    What does a new entrant to PE do?

    2
    What does a new entrant to PE do?

    • Mapping a sector and market

    • Initial contact to businesses

    • Proactively seeking out management teams

    • Creating and maintaining relationships across intermediaries

    • Becoming an expert in a sector

    3
    What does a new entrant to PE do?

    • Financial modelling

    • Valuation, entry and exit

    • Commercial due diligence

    • Legal due diligence

    • Other due diligence

    4
    What does a new entrant to PE do?

    • Equity structuring

    • Debt structuring

    • Management documents

    • Running a corporate finance process

    • Negotiation support

    5
    What does a new entrant to PE do?

    • Business analysis

    • Attending board meetings

    • Investor reporting

    • Occasionally seconded to portfolio companies

    6
    Types of Private Investment

    LBO RESTRUCTURING

    Target
    Company DISTRESSED
    Sales GROWTH

    VENTURE

    Target Company Age

    7
    What sort of place do you want to work?

    •Types of firms:

    New Established

    Small Large

    Sector specialist Generalist

    National International

    Financial Operational

    8
    Getting into PE – Hygiene Factors

    • What do firms look for?

    • Financial skills
    • Modelling
    • Understanding of debt: buyout structures and covenants

    • Due diligence skills


    • Commercial analysis
    • Business optimisation skills
    • Thinking strategically about a business

    • Basic corporate finance skills


    • People who are organised and can handle stress
    • Skills to run a process
    • Dealing with other professionals
    • Negotiation & presentation skills
    • Buying and selling

    9
    Getting into PE – Typical interviews

    • Modelling exercise

    • Case studies testing:


    • Valuation
    • Managerial problems
    • Business analysis

    • Understanding a sector

    • Understanding of debt and equity structures

    • Why the target firm

    • Talking about the firm’s previous investments

    • Personal fit

    10
    Getting into PE – Typical interviews

    11
    What do firms tend to look for?

    • Investment bankers

    • Management Consultants

    • Accountants

    • Lawyers

    • Entrepreneurs

    • Previous senior management experience

    12
    13
    Getting into PE

    • To stand out:

    • Know an industry well

    • Have creative deal ideas

    • Have industry contacts

    • Entrepreneurial experience

    • Have evidence of solving business problems before

    • Appear credible to deal with managements and intermediaries

    • Be independent & capable of tackling big problems calmly

    14
    Getting into PE

    1990s 2000s 2010s?

    Bankers Consultants Managers

    15
    Interesting areas

    • Emerging and Frontier Markets

    • Turnarounds

    • Venture

    • Small cap growth

    • Sector specific (renewables, infrastructure, real assets, financials)

    16
    Left field?

    • Advisors to PE

    • Other parts of the capital structure

    • Portfolio company management

    • LPs

    17
    18

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