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Private Equity Culture and Qualities Sought

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Submitted By kelzi33
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CULTURE:
Performance-drive: Many PE associates feel like they are directly contributing to the fund’s performance. That feeling is almost completely absent from banking. PE associates know that a large part of their compensation is a function of how well these investments do and have a vested interest in focusing on how to extract the maximum value of all portfolio companies. When there is an active deal it can be a high pressure environment.
Comparable to banking when there is an active deal, but otherwise much more relaxed: Usually get into the office around 9am and may leave between 7pm-9pm depending on what you’re working on. Possibility of working weekends when there is an active deal, but usually the weekends are yours.

WORK ENVIRONMENT:
Size: Private equity firms tend to be smaller in nature so your entire fund may be only 15 people. As an Associate, you will have interaction with everyone including the most senior partners. Unlike at many of the bulge bracket investment banks, senior management will know your name and what you are working on.
Traditional vs Google: Certain PE shops that have taken a “Google” approach and offer free food, toys in the office, televisions in offices, and sometimes even beer in the fridge or a keg in the office. Other PE firms are run more like traditional, conservative corporations where you are in a cube environment.

QUALITIES SOUGHT FOR BY FIRMS
Smart: You have to be able to see the opportunities to make an investment work and create value.
Confident: You have to have the guts to make the investment work, even if that means cutting jobs or being the bad guy everyone at the (target) company hates
Hyper-aware: Of exigencies of the business-- the need, demand, or requirements intrinsic to the job or options available
Stubborn and creative when dealing with problems: Supervisors and investors will not

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