1. Welcome to the Evisors Webinar
Visit us online at www.evisors.com
Careers in Private Equity
featuring
Arion Robbins
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2. Careers in Private Equity
I. About Arion
II. Overview of the Types of Investing
III. What is Private Equity?
IV. Researching the Industry
V. What are Firms Looking For?
VI. What to Expect in the Recruiting Process
VII.Q&A
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3. About Arion
Education:
• University of Pennsylvania (B.A. in Economics ‘06)
Previous Work Experience:
• Financial Advisor at Wachovia
• Investment Banking Associate at Barclays Capital
Currently:
• Associate at Tenex Capital Management
Other:
• Chartered Financial Analyst
• 8+ years of experience across the financial services industry
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4. Investment Size/EV Holding Time Objective
High Frequency
Trading
Less than 1% Seconds/Minutes/Hours
Capture small temporary
pricing anomalies
Prop Trading Less than 5% Hours/Days/Weeks
Create value through
arbitrage
Long/Short Equity
Hedge Fund
~3-10% Weeks/Months
Capture relative value
discrepancies
Private Equity Varies, but often 100% 2 -4+ Years
Buy at or below potential
value and apply change to
surface gains
Holding Company Varies, but often 100%
"Our favorite holding
period is forever"
Buy at or below intrinsic
value and wait
Overview of the Types of Investing
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5. What is Private Equity?
1.
• Capital is raised from retail and
institutional investors
2.
• Investments made directly into private
or public companies
3.
• Investments exited after a period of
time in order to return profits to
investors (5-7 year full cycle)
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6. • Investment sourcing
• Investment diligence
• Portfolio company monitoring
• Investment communications
What do you do in Private equity?
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7. Ways to Research the Industry
• Evisors
• Career services/school alumni
• LinkedIn
• Newspapers
• Investing books
• Industry newsletters eg, Dealbook
• Company websites
• Vault or Wetfeet guides
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8. What are Firms Looking For?
• Relevant work experience
• Previous investing or analytical experience
• Eg, Investment clubs, internships, previous jobs
• A passion for investing and general curiosity
• Can’t just be a means to a high salary
• Need to know that you want to get to the right answer
• Strong work ethic
• Diligent with good attention to detail
• Prove through academics, experience, extra curriculars
• Thought leadership
• Creatively approach problems
• Analytical mind set
• Articulate, strong communications skills
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9. Choosing Your Firm
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10. What to Expect in the Recruiting Process
The Application
• Resume
• Cover letter
• Application
• Tailor each application
to the company
• Follow up
The Interview
• Resume walk
• Answer basic questions
on why you want this
career/role/firm
• Expect technical
questions
• Have questions ready
for interviewer
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11. Questions & Answers
Question 1:
How many interview rounds did you expect
going through private equity? Did you notice
any differences within each round?
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12. Questions & Answers
Question 2:
Is there anything particular within private
equity across different geographies?
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13. Questions & Answers
Question 3:
What do you think about private equity
careers within a tough economic climate?
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14. Thanks for Joining!
Book your one-on-one session with Arion at
www.evisors.com/expert/1263
View past webinars at
www.evisors.com/webinars
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