Hi all,
I am in the process for a pre-MBA associate role in the PE team at ADIA. I have a few questions on this and would appreciate if anyone could answer:
- How FoF-heavy is ADIA right now in PE? Do they do much on the co-investments front?
- What is the culture like? What are usual backgrounds of people working there? Is this a high-calibre team?
- What are the exit options like? Can you move into classic PE funds (mega or midmarket) after a few years there, providing you work on co-investments? Is this a good exp. for business school?
- Any thoughts on comp?
Thanks.
m2
I don't know too much about ADIA PE, but I do know this (since ADIA is an LP in one of our REPE funds), ADIA is looking to really bump up their direct investments. In fact, they've decreased their FoF investments in several funds across the world very recently.
ADIA is heavy on co-invest though (v/s FoF), I think they're leaning towards co-invest more and more because they like the idea of analyzing each deal as it comes. Also, gives them flexibility to pull the plug on investments whenever they like. This is one of the major reasons they're decreasing FoF investments in PE funds, especially after the fin crisis when they were unable to pull the plug on capital commitments they had made. Also, I think they're hiring intensively for their investment teams - going from a top-heavy to a more balanced team with lots of entry level guys.
With my limited interaction with the ADIA folks, I really liked the guys. They should be nice to work with but really wouldn't be able to comment on the work culture in the firm in general.
I think MM PE funds would definitely be exit options, given the exposure to co-invest. Also, would be a great exp for business school since their co-investments are in several geographies - nice multi-country / multi-cultural experience I guess.
No idea on comp.
Cheers mate! Hope you get the gig.
Many thanks c00guy, exactly what I was after.
Apologies for the bump, but does anyone happen to have any updated data points on ADIA PE? Specifically interested in time spent on direct/co-investments vs. FoF as an associate, comp, culture, amount of travel..
Apologies for the bump, but would like to hear more about this too.
Also interested.
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