10% of HBS Private Equity is ex-Bain Cap

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10% of HBS Private Equity is ex-Bain Cap

hbsHope everyone’s doing well. It’s been a hectic couple of days on the HBS campus, been really lucky to meet some stellar students… I think we almost had 50 meetings in 3 days.

Couple interesting take-aways:

  • I always thought HBS was the golden ticket, and while I still think so, it was interesting to hear from a few people that getting into PE post-business school (unless you were in PE before) is still EXTREMELY difficult (even with the HBS brand)
    • HBS Career Center informed students: “of the people that got PE jobs, 92% came from PE —  highly unlikely to break into PE if you weren’t in the industry already” ☹️
    • 12% of the ENTIRE HBS class is from PE (120 students/~1000 students)… makes you think where everyone else is coming from?
    • You can see the breakdown in the image above (Bain Capital, Blackstone, Advent, Carlyle, TPG making up a good portion)
    • While we spoke with many PE and Growth individuals, it was nice to meet some VCs, hedge fund individuals, corp. dev, operators, research analysts, amongst consultants as well to get some variety of thought
    • taught us = NOW while you’re in IBD is the time to break into PE

Take-aways (continued):

  • Nice to see international presence from HIG, CVC, Advent-type shops representing LATAM + EU countries
  • We even met a good amount of non-finance individuals who were actually looking to be mentees as they looked to pursue growth and other investing roles post-graduation
  • Heard multiple times that while firms had hired through on-cycle 2022, they still plan on hiring ad hoc as they go on because 1) many larger funds being raised hence more ppl needed for example PSG hiring 10-12 ppl total (still looking for 4-5 more) amongst other UMM firms still hiring and 2) good talent can also be found off-cycle which means always be prepared
  • D&I is a huge initiative at many of these firms and when headhunters can’t bring them candidates, they’re looking for their network to bring talent in hence you should cold outreach to meet new people
  • Many with former PE experience are looking to pursue either public hedge fund roles or CROSSOVER investing at shops similar to Tiger, Coatue, Dragoneer – very popular amongst people in PE to try HF for a summer
  • People have an ENTREPRENEURIAL ITCH — many said they plan on returning to investing but also others were saying they plan on starting their own search fund, their own operating entity, joining something early, etc. Love it!

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