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PE - thoughts

 
#1 PE - thoughts
14/04/2015 15:39

Smithy

Hi,

Having heard some conflicting messages recently, I would welcome views of folks on here. Do private equity firms favour strategy consultants OR operational consultants?

Love

Sx

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#2 RE: PE - thoughts
14/04/2015 17:43

marsday to Smithy (#1)

Depends on what needs to be done. You may as well ask do PE firms favour Wednesdays or Chutney.

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#3 RE: PE - thoughts
15/04/2015 10:20

Smithy to marsday (#2)

So is it Wednesdays or chutney?

I guess the two views I've heard recently are:

"PE firms wouldn't touch operational consultants with a bargepole."

"PE firms wouldn't touch strategy consultants with a bargepole."

Hence my question...

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#4 RE: PE - thoughts
15/04/2015 13:33

Bushy Eyebrow Partner to Smithy (#3)

Sounds like the answer is Recreational Vehicles then...

:-P

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#5 RE: PE - thoughts
15/04/2015 14:03

marsday to Smithy (#3)

So is it Wednesdays or chutney?

I guess the two views I've heard recently are:

"PE firms wouldn't touch operational consultants with a bargepole."

"PE firms wouldn't touch strategy consultants with a bargepole."

Hence my question...

Makes me wonder where you heard these views, or from whom, more precisely.

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#6 RE: PE - thoughts
15/04/2015 14:14

Smithy to marsday (#5)

So do you have any thoughts? Why is it like "Wed. or chutney"?

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#7 RE: PE - thoughts
15/04/2015 23:28

mb88 to Smithy (#6)

More second hand remarks, but from my experience, PE houses usually look down on consultants whether it be strategy or operations. I've heard a number of times ex-McKinsey guys landing a role and they just can't get it when it comes to modelling or understanding deals. Remember, a lot of PE guys are ex-IB guys.

However, there is still opportunity for consultants, specifically operational, turn-around type consultants. Some PE houses have in-house turn-around teams staffed by ex-consultants, but make no mistake, your general operating model consultant probably won't be that helpful. You need to have experience actually making a company profitable and putting money in the bank, not just writing a report or managing a project.

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#8 RE: PE - thoughts
16/04/2015 23:15

Asterion to mb88 (#7)

+1 for mb88

Plus, I'd dare add that PE probably want a ready-made analysts/investment manager, hence the problem with people with a non IB background. I hardly doubt McK-type of people "just don't get modelling and deals", but it's more "they don't get modelling and deals without having had the extensive training/coaching IB people had".

In other words, PE firms look for people with at least a bare minimum of experience in their area and those people are much more likely to come form IB than from consulting.

It is also true that some PE firms have a turn-around team that can be very operational and hands on, but forget about PE salaries for that part of the firm...

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#9 RE: PE - thoughts
17/04/2015 11:04

TheHeadHunter to Smithy (#1)

Hi,

Having heard some conflicting messages recently, I would welcome views of folks on here. Do private equity firms favour strategy consultants OR operational consultants?

Love

Sx

Hi Smithy,

From my experience having worked with a number of PE firms along my core consulting clients the answer to your question very much depends on the nature of the work the PE firm do. For example, one of my clients looks for purely Due Diligence candidates because they work solely at board level with their clients in an advisory capacity. However some of my clients will do much more end-to-end work e.g. Commercial Due Dilliegence > Transactional Services (Acquisition stuff) > Operational restructuring (post merger / acquisition).

Therefore it very much depends on which firm you are applying to and the scope of their work. From my experience if your currently working in a consulting firm it's important that you start getting exposure to working with PE clients as this is looked very favourably with PE firms. They like to see a solid track record doing their sort of work (whether it be commercial due diligence, growth strategy, operational restructuring) for PE clients.

If your finding it difficult to get onto PE clients in your current firm then I would advise getting in touch with me so that I can give you a few ideas on which consulting firms are out there doing the bulk of their work in this space.

Good luck!

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#10 RE: PE - thoughts
17/04/2015 17:55

Anon MCs to TheHeadHunter (#9)

Wow,

I never thought becoming a PE (Physical Education) Teacher would be so taxing... are we talking about Primary or Secondary schools here?

Probably private schools, hence the requirement for ex IB guys?

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#11 RE: PE - thoughts
17/04/2015 23:20

Dan! Dan! Dan! to Anon MCs (#10)

Banter!

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#12 RE: PE - thoughts
20/04/2015 14:11

marsday to Anon MCs (#10)

Wow,

I never thought becoming a PE (Physical Education) Teacher would be so taxing... are we talking about Primary or Secondary schools here?

Probably private schools, hence the requirement for ex IB guys?

Now you're just taking the PE(E)

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#13 RE: PE - thoughts
21/04/2015 10:20

Smithy to marsday (#12)

Now my bright sunny morning has been brightened further by humour. :)

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#14 RE: PE - thoughts
21/04/2015 10:21

Smithy to TheHeadHunter (#9)

Thanks headhunter - interesting thoughts there and I may well take you up on your offer.

S

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#15 RE: PE - thoughts
14/06/2015 21:11

Jack Black to Smithy (#1)

"PE - thoughts"

My girlfriend says it's not a big issue, not sure if I believe her though.

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