私人产权Job Description

What it takes to break into private equity

私募股权公司(PE)公司投资于公司通过战略和财务手段提高其盈利能力,目的是最终出售盈利。

Business News for Private Equity Job

他们投资的公司通常是私营公司(其股票不在公共证券交易所交易),如果他们投资于上市公司,他们将其私下,因此他们的名字。

这些公司与其他投资公司相比,这些公司最重要的好处是,由于他们对私人公司拥有控制权,因此他们可以轻松,快速地进行任何结构性更改。有时,他们甚至出售业务的一部分并完全清算,如果他们认为这将带来比坚持下去更好的回报。

PE firms typically specialize in one or two specific sectors: finance, retailing, manufacturing, energy, healthcare, technology, or real estate. This article will help you understandwhat a PE job需要这个领域的职业道路,以及PE招聘人员在潜在候选人中寻找的东西。

PE面试课程

您需要闯入私募股权所需的一切

注册有关如何在华尔街担任最负盛名的Buyside角色的内幕指南。

学到更多

What is Private Equity?

PE是一个广泛的投资类别,在该投资中,个人或公司在较小,流动性较低且通常是私人公司中获得大量所有权股份。

PE firms are usually organized as limited partnerships. The partnership structure consists of limited and general partners, with general partners (GPs) having most of the executive power and hence are the brains behind generating returns. In contrast, the limited partners (LPs) are typically high-net-worth individuals who have the financial capacity to invest large amounts of capital in the partnership's funds.

PE Industry revenue structure

The goal of a PE firm is to improve the profitability of the acquired company and then sell it for profit. They may do this by increasing management efficiency, improving capital structure, selling non-core business lines, refinancing debt, or implementing other operational strategies.

In some cases, PE firms are known to have broken down a company and sold off the parts to strategic buyers who often buy at a higher premium, thereby generating a high return on investment on the transaction.

由于这些因素,它们在收购公司的公司中享有很高的声誉。PE投资通常意味着减薪,裁员和解散,这对公司有益,尽管从员工的角度来看并不好。出现的好处是因为它不必向公众或许多股东报告,从而加快了执行过程的加快,并且有较少的法规可从诸如Securities and Exchange Commission (SEC)

法规 - 私募股权

PE专业人士专门从事一个或两个特定部门,例如金融,零售,制造,能源,医疗保健,技术或房地产。这种对专业化的需求至关重要,因为普通合伙人将在有限合伙人的前提下筹集资金,即他们在该特定部门有经验,因此将为投资者带来额外的回报。

这些公司通常投资于具有稳定现金流量的成熟公司。由于体育投资主要是通过债务(通常为70-80%)资助的,因此必须确保目标公司产生的现金足以支付所有债务付款(包括利息和本金)。这个策略contrasts with venture capital投资于私人但早期公司的公司,这些公司通常不会产生任何现金流。

私人产权Job Description

Private equity jobs are very复杂,描述非常广泛。许多人认为这是一名投资银行分析师之后的下一步。万博app网页版

如果您想进入PE,那么必须了解PE的历史,行业的发展方式,PE公司的工作,知道他们在招聘时所寻找的技能,您的目标PE公司的规模和行业,这一点至关重要。专门研究,也最好有一些从事交易的经验。

The goals of a PE firm largely depend on the type of strategy. For example, one might focus on buying undervalued companies with high growth potential, while another would try to save a company from bankruptcy through restructuring. PE professionals generally specialize in one or two specific sectors, such as manufacturing, healthcare, energy, or technology.

However, a few critical skills that candidates for PE roles are required to have include:

  • 财务建模:这是PE职业的必备技能之一。不仅足以know financial modeling, but it is also essential to do so fast and efficiently. PE associates must analyze a wide range of companies, and financial modeling helps achieve that. The most sought-after type of modeling isLBO, as almost all PE firms rely on LBOs to invest.
LBO建模课程

Everything You Need To Master LBO Modeling

To Help you Thrive in the Most Prestigious Jobs on Wall Street.

学到更多

  • Analytical skills:与投资银行业务万博app网页版不同,PE员工通常需要分析诸如机密信息备忘录(CIM)之类的文件来了解和评估潜在机会。CIMS是来自包含有关投资机会数据的投资银行的文件。
  • 监视投资和报告绩效:PE associates are usually required to monitor the firm's current assets and prepare reports on their performance.
  • 关系管理:While juniors are not required to handle the client relationship aspect of fundraising, they are expected to have good interpersonal skills as PE firms have a thin structure, requiring teamwork and collaboration.

如何获得私募股权工作

Generally, there are two established routes into PE.

The first route is through an analyst program at a reputed investment bank. Many investment banking (IB) analysts have their eyes set on a career in PE. PE firms seek candidates who have the skills gained in the two-year analyst program at the big banks.

这条路线需要提前计划,因为分析师的摄入量通常仅向最高目标学校的新毕业生开放。这也是PE的最简单途径,因为这些公司不乏招聘人员,他们希望装箱最佳的分析师。

第二条路线是通过商业或金融硕士学位。来自顶级大学的毕业生在学生任职期间在PE公司中实习或在财务方面拥有先前的经验,这是毕业后立即获得PE公司的工作机会的最佳机会。

即使的新兵come out of business schools might not have the best financial modeling skills, their business acumen is highly sought after.

沃顿学校

PE firms generate profits by restructuring existing businesses, which requires many management and business skills, and candidates from top business schools tend to exhibit these in-demand skills.

可以预期,PE合伙人将参与日常任务,例如审查财务报表或与管理团队会面以讨论策略或估值。他们也可能参与为投资组合中的公司开发IPO(首次公开产品)流程。

在体育公司工作中获得的经验非常有价值,而且通常更加充实。此外,大多数公司的工作与生活平衡往往比投资银行业务更好,您将明白为什么这是IB分析师最受欢迎的职业道路。万博app网页版

An important thing to note here is that since PE firms tend to be smaller than investment banks, openings are fewer, and landing a job at one is very competitive.

To land a role in PE, it is of utmost importance to put a lot of effort into networking with professionals already in the field and the recruiters who hire for such roles. Therefore, ourPE interview course comeswith a networking course to help you network efficiently and ace that PE interview.

If you want to jumpstart your preparation for an interview at a PE firm, please check out our free40个私募式面试问题带有样本答案指导。

私募股权职业道路

该合伙人是PE公司中最早的初级角色。大多数新兵都被聘为这一角色,从他们为校长和副总裁提供支持。根据您从雇用的道路,职业道路看起来略有不同。

大多数体育公司倾向于推出在投资银行进行了为期两年的分析计划后加入的新兵,他们有望完成MBA并回报。MBA是高级合伙人角色或副总裁角色的先决条件,具体取决于公司。确实,中型资金可能对晋升的MBA要求并不特别。在寻找进入体育角色的同时,要牢记这一点是一个关键点。

The easiest way to gauge what type of firm it is would be to check out the LinkedIn profile of the senior staff working there. If all of them have an MBA, it can be reasonably assumed that it is a prerequisite, and you would be expected to get one at a certain point in your career to avoid stagnating your career growth.

PE公司由于尺寸较小而往往比投资银行稀薄,因此没有太多的垂直层次结构。但是,大多数专业人士可以分为初级(同学)和高级(副总裁兼校长)。我们在下面简要介绍两个。

私人股本的工作——同事

The associate is the most junior role in PE firms. Most recruits in the industry start at this level.

An associate will get plenty of training and on-the-job experience to make them competitive for jobs at higher levels of the firm. It is considered a testing ground where partners and seniors lookout for up-and-coming talent. The most important skill they look out for at this level is understanding investment opportunities and how money is generated.

作为PE公司的合伙人,平均任期不到三年。在此期间之后,许多员工晋升为高级职位或完全进入其他行业。对于那些发现投资非常有趣或没有所需的才能和技能的人来说,后者尤其如此。

An associate at a PE firm will work on various projects to improve the invested company's profitability. These projects might involve anything from data analytics to M&A transactions to handling legal matters related to mergers and acquisitions. The wide range of experience gained as a result allows a wide range of career exit options.

私募股权工作 - 副总统和校长

PE公司的副总裁或负责人通常是该公司的面貌。他们负责营销,与客户保持关系,筹款以及为其他员工安排会议。

PE公司的VPS和合作伙伴

其他责任可能包括评估投资机会,谈判收购或销售,管理债务以及解决破产程序。

Getting promoted to this level requires a specific skill set that includes having a feel for differentiating a good investment opportunity from a bad one, maintaining good client relationships, thinking strategically, and wearing many caps, amongst others. Unfortunately, since PE funds have limited partner slots, it is tough to make it to that level. Hence, many high-performing associates and VPs move out to start their shop, the fastest way to partner.

合作伙伴和副总裁级别的高管通常被禁止通过赔偿设备(例如金色手铐,携带等)退出。这些是为了确保在投资清算之前没有合作伙伴和高级人员的飞行来偿还有限合伙人。实际上,许多PE合作伙伴关系都有条款,使LP能够解散合伙企业,如果一定数量的GPS决定离开。

Learn more about recruiting forexecutive partner private equityhere.

PE面试课程

您需要闯入私募股权所需的一切

注册有关如何在华尔街担任最负盛名的Buyside角色的内幕指南。

学到更多

Additional Resources

WSO是领先的提供商financial modeling courses对于金融专业人士。为了帮助您发展职业,请查看以下其他资源:manbetx3.0手机客户端

帕特里克·柯蒂斯WSO Editorial Boardwhich helps ensure the accuracy of content across top articles on Wall Street Oasis. He has experience in investment banking at Rothschild and private equity at Tailwind Capital along with an MBA from the Wharton School of Business. He is also the founder and current CEO of Wall Street Oasis This content was originally created by memberWallStreetOasis.comand has evolved with the help of our mentors.