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Intern at FoF - Looking to switch to buyout PE
Hello y'all This summer, I was an intern at a private equity fund of funds. We do primary, secondary, and co-investments. This is my only internship experience, as I am graduating college early, and I did receive the return offer. I feel like this is a pretty good gig - ~$100k salary, 40-55 hours a...
Hamilton Lane / Fund DD Pricing
Would anyone have an idea of how much a firm like Hamilton Lane, or similar firm, or even a much smaller firm charges for reviewing/conducting DD on one PE or other private fund? I know companies sometimes pay for a third-party perspective or report on a fund, or fund landscape. Came across an...
Hamilton Lane / Fund DD Pricing
Would anyone have an idea of how much a firm like Hamilton Lane, or similar firm, or even a much smaller firm charges for reviewing/conducting DD on one PE or other private fund? I know companies sometimes pay for a third-party perspective or report on a fund, or fund landscape. Came across an...
HarbourVest - is this a good move?
I’m a VP in a public markets firm and thinking of doing a lateral career change into HarbourVest, the role would be VP in their Primaries team. I don’t see much info about HarbourVest - so wanted to ask what thoughts are on the firm, how reputable are they, what has their returns / fundraising...
Got an offer, what do y'all think?
I got an offer at a BB AM to work in their fund of funds division doing manager research; the base salary would be 90K, with a sign-on on the first check of 15K and End of year bonus of 22.5K. Starting in 2024, I'd be given an annual bonus of around 40-45K. Does this seem good to y'all?
Started micro vc fund in 2017, now raising for 2nd fund after solid returns
Hi all, My partner and I started a micro vc fund in 2017 after some big wins angel investing. After a slow first few years, our fund is now 12x gross tvpi and climbing. We have had two >100x marks over the years. Our first fund was a proof-of-concept as we had no institutional record and thus funded...
Q&A: PE/VC FoF Principal
I figured I would host a Q&A about the FoF and LP world to see if my experience can shed some light on WSO juniors figuring out their path since I feel like there's not a ton of insight into that side of the PE industry and most people here just focus on getting a GP job. A bit about me: Ivy...
Comp for fund of funds multi asset portfolio managers
What do multi asset, fund of funds portfolio managers make? Thinking about people running target date funds/risk level portfolios/model portfolios/other similar stuff. In terms of AUM, Im thinking of north of 100 billion but most of these are low fee mandates as people in the know would already know...
Fund of Funds (FOF) vs Placement Agent (PA) ?
Currently looking at two offers one at a placement agent at a CS, Eaton Partners, UBS type place and Fund of Funds (Adam Street etc.) for an associate position. What would be a better choice (to be on the LP side or just a placement agent) in terms of comp/exits...also..I am coming from IB so I am...
Megathread Fund of Funds 2021 Compensation
Ladies and Gentlemen... How is everyone feeling on comp (base/bonus), position (associate/sr.associate/etc) Curious
PE secondaries/FOF or sell-side ER
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Fund of funds / Analyst role - exit opps
For those that currently work or have previously worked in the fund of funds space, what are/were the pros/cons to the analyst role, and what were/are the exit opportunities (really) ? I have 2 offers right now and am looking at it as an opportunity to get my feet in the water. But my long term goal...
Private Equity Fund of Funds
What are some things Fund of Funds managers look at before investing? and how do private equity funds capitalise on opportunities (such as dislocations from COVID) given that the whole fundraise period takes a significant period of time (6-12 months?)? Context: Interviewing with a Sovereign FoF...
Real Estate Fund Modeling
What the best method for modeling a FOF hypothetical? A) utilize the the 1, 3, and 5 yr average net return of the underlying operators or B) utilize assumptions of cash flow based on prefs and estimated appreciation of the underlying assets? i've modeled both methods and with A (using net return)...
Fees/carry on separately managed accounts for primary investing?
I'm looking to move into a primary fund investing role where a lot of deal flow is driven by separately managed accounts and specific client mandates. Obviously fees are charged on this but how does this compare to a FoF in terms of carry or incentive fees? Are there any beyond just earning an...
Seeking advice - Leaving an investing role (PE/Direct Lending) for non-Investment Role
I'm 6 years into my finance career (direct lending at a large name shop). I have recently been thinking of a career change (open to both within finance and outside of finance) because I really don't enjoy the investing side of things (don't really care for the models, decks, DD and worst of all...
Q&A: 2nd Year Analyst at McKinsey in Europe
Open to answering questions regarding MBB, recruiting, breaking in, day to day life, career choices, etc. Background Academic: MSc in Finance (Europe) - top GPA, public undergrad b-school (target locally) Internships: Summer analyst at MBB; Summer analyst at Goldman Sachs (IMD London); Off-cycle...
Q&A: Private Equity Fund of funds - GP Evaluation/ Due diligence
To give you a bit of background, I work at a Global Private Equity Fund of Fund as a Senior Associate. 6 years of experience, Chartered Financial Analyst. Work primarily involves GP Sourcing +Evaluation, Due Diligence, and Portfolio Monitoring. I evaluate GPs across the spectrum - Growth/ Buyouts/...
European Investment Bank (EIB) and European Investment Fund (EIF) exit opportunities
Hi, I am considering applying for positions at European Investment Bank or European Investment fund, but I am afraid of being pigeonholed. Do you know what potential exit opportunities are? Have any of you first/second hand experince of work there? From what I learned the EIF works like a FoF, so...
GS AIMS Private Equity Group
I've been looking into the Private Equity Group within GS AIMS recently (saw a posting a few weeks ago) and noticed a lot of former analysts were able to exit into PE buyout shops, despite the group doing primaries / secondaries / co-investments, rather than LBOs . Would anyone have insight into why...
Reneg Private Markets Intern Offer for a LMM PE?
Hey WSO Community! I have already accepted a private markets internship offer from a PE FOF (think HarbourVest, StepStone but a lot smaller / they mostly do co-investments). I just got another intern offer from a LMM PE fund that manages roughly $200MM and is continuing to expand. Just to clarify, I...
Private Equity vs. Corporate Development
Ability to “Keep Doors Open”: Private Equity—have seen plenty of PE Corporate transfers, but am not aware of Corporate PE transfers / Corporate Development—would imagine the role could transfer nicely to other high growth companies, but don’t see a path back into PE
Wealth Management Research Analyst
Would like to get your thoughts on being a research analyst for a wealth manager. The position would entail doing third party manager research and due diligence. - How are wealth management research analysts viewed, given financial advisers are at the front of the business? - Are the skills learned...
Fund of Funds FoF Rankings
Hi all, I tried looking for information regarding FoFs but wasn't able to find a comprehensive list online. I'm most looking for world ranking of FoFs by AUM and information pertaining to their returns, investment strategy and if possible the funds they are investing in. Would would be really...
Investing in Private Equity
Hi everyone, To give you some background, I recently inherited around $2.0 million from my passed grandfather. I am looking into investing this money, but am rather skeptical of the market at the moment, and bond yields are very low. Of course, I will still diversify some money into those two, but I...
Starting career at a FOF doing Investment Research or a propriety networks firm (like Guidepoint Global) research associate?
I am just graduating college and have found I am very interested in pursuing a career in buyside or sellside equity research . But, I have found it to be difficult to find/get a job doing equity research right out of college. Thus I am currently looking at starting a career at a FOF doing Investment...
FoF (Grosvenor/Pantheon) vs Cambridge Associates
Hello all, If I were hypothetically fortunate enough to receive offers for FO positions at Cambridge Associates (prominent investment consulting firm) and a FoF like Grosvenor/Pantheon, which would you recommend I choose in regards to better Bschool and lateral exit opps? In regards to pre-B school...
Cambridge Associates vs Prominent FoF (Grosvenor, Pantheon)
Hello all, If I were hypothetically fortunate enough to receive offers for FO positions at Cambridge Associates (prominent investment consulting firm) and a FoF like Grosvenor/Pantheon, which would you recommend I choose in regards to better Bschool and lateral exit opps? In regards to pre-B school...
FoF compensation structure
Would like to inquire about the compensation structure for a mutual fund FoF . Part of the job includes secondary investing and portfolio construction/tactical allocation. Some searching showed 70k + 20-30% bonus for PE FoFs, so I wonder how different this is.
Webinar Rewind - Co-investments and Fund of Funds Overview + Q&A
In case you missed our March 25th webinar entitled Co-investments and Fund of Funds Overview , have no fear. The full recording of the webinar can be found below (free until Tuesday 10am et when it goes into our video library ). Do you want to a 1 on 1 mentoring session with John? Click below:...
Deutsche Bank (DB) Secondaries / Fund of Funds
So information I have these guys thus far is just what's on their website and funds they have raised (targets/amount raised). Anyone know anything else about these guys?
Most sophisticated fund-of-funds?
What are some of the most sophisticated fund-of-funds out there in terms of the rigor of their approach towards evaluating managers? Some that come to mind are BAAM, PAAMCO, Mesirow, KKR Prisma, and Magnitude. Any others?
Transitioning out of fund of funds, is MBA necessary?
Is it possible for someone to transition out of fund of funds to join a top bank or IM firm? Will becoming CFA chartered be enough? I graduated from BC.
software for fund selectors: MorningStar, eVestment, Bloomberg?
How do MS Direct and eVestment compare with Bloomberg for fund screening? If I understand correctly, MS direct is cheaper than Bloomberg (17k p.a.), what about eVestment? MS direct provides 3x smaller coverage of hedge funds than Barclays Hedge/Eurekahedge, is eVestment any better? We mostly need it...
UBS securitized products
Thanks
Fund of funds - Work activities and culture?
What can I expect in an interview, work activities, culture, etc.? How does it differ in hours, pay, exit opps, etc. than other finance positions?
Started my career in a FoF/advisory role - where to go from here?
I began a few months ago as an analyst at a PE FoF /advisor at a firm that's a good player in the space (think Capital Dynamics, StepStone, HarbourVest ). I've been finding the work to be very boring and extremely qualitative. I've learned a lot about the asset class but don't really have much of a...
FoF Pay?
Hey guys, Just curious if anyone has an idea what the going rate for an intern in portfolio management at a ~10bn AUM firm would pay. The FoF I am working in is roughly 2-3bn in AUM. Looked around but I couldn't find anything recent or relevant to this specific strategy. Was curious to see if FoF's...
Hedge Fund of Funds Investing: A Monkey's Review
As the name suggests, a “Fund of funds” is a fee-based investment vehicle whose target is not individual stocks, bonds, or other instruments, but other hedge funds. The two largest benefits to investing in a fund of funds are that they tend to have lower capital requirements (making them more...
Anybody have experience working in Public Equity (State Retirement Funds?)
I've got my second interview coming up for an analyst position with a state fund. It's in the real estate department and we'll be investing in other investment managers for the most part. It sounds a little like a fund of funds analyst position. Anybody have any insight into what the company culture...
Blackrock Private Equity Partners
Anybody know anything about the group? Have a super day with their New Jersey office in a couple days. Mostly FoF? How much direct? What do exit ops look like?
PE Fund-of-Funds - Help would be appreciated
Hey, Would anyone be able to run a search on CapIQ or FactSet for me for one or all of the below? 1. PE FoF investing in Africa 2. PE FoF based in Africa 3. Any organisation (pension funds, govnmt, asset managers, foundations) that invest in PE funds in Africa I've never used the above databases so...
Best PE Firms?
I have an interview coming up for a PE FoF Associate position. What is the best way to get smart on some top PE firms in terms of performance so I can discuss in an interview? Which PE strategies are doing well these days? Are there any PE shops that are known for having really solid partners and...
Fund of Funds Career Path?
So I had a quick question about Fund of Funds. There is not a whole lot of information on this site about how to break in. Is there any kind of boiler plate path into a FoF? I find the idea really interesting, and I was wondering if anyone had any experience in the day-to-day role of an analyst....
Magnum Global Investments
Anyone know anything about these guys? I haven't been able to dredge up much research on them -- I met with them at SALT and they seemed interested in considering us for a seed allocation, but I've never heard of them before and I haven't the slightest idea on credentials, AUM, anything. The only...
Favorite PE Firm?
Here's a gem of a question that I got at a PE FOF interview a couple weeks ago. Person asked me: "So what are your three favorite PE firms?" I was like, "Favorite in terms of what?" Interviewer said "Oh you know, their strategy and returns, etc..." Frankly, I thought it was a bullshit question and...
Credit Suisse Customized Fund Investment Group (CFIG) Interview
Hey guys, I just got an interview with Credit Suisse's Fund of Funds group and I'm wondering how to prepare for Fund of Funds interviews. Are they similar to PE interviews? The first round is a 2 hour in person interview, so I'm guessing it's a modelling test. What kind of modelling? LBO? 3...
LPs - how and why
on the website of HIG Capital , one of the bigger PE funds, they list a bunch of their investors ("Our investors include some of the world's leading investment banks, financial institutions, pension funds and endowments.") On that list are a couple usual suspects ... university endowments, teachers...
What's worse? Sell-side Equity Research OR Fund of Funds??
What's worse? Sell-side Equity Research OR Fund of Funds??
Whats the difference between fund of funds and endowments
So whats the difference between the two? I heard Fof has a bigger focus on fund rasing, but from investment perspective, should be very similar. What a difference would it make for a junior analyst then? Thanks so much ;>
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