Q: Why do you want to be an investor? A:?
So I have an upcoming informational interview/informal interview with a VP in my banks Private Equity group which I am trying to lateral into in the coming months.
After speaking with an analyst in the group, he said one of the things this guy places a very high value on, is a candidates reasons for wanting to become an investor.
I am having some problems putting my thoughts together in a way I can articulate my passion to do this job and display some knowledge as well.
I was hoping you guys could give me some pointers on certain things you would want to hear from a candidate you were interviewing if you asked them this question.
I'm not looking for exact answers, although examples would certainly help, but looking more for points to touch on that would make you consider the candidate more seriously.
Wait you want us to tell you why you want to be an investor?
You want to really dive down into fewer companies and learn everything about them as the owner/investor rather than getting the higher level view of more companies/deals that you do as a banker. You enjoy combing through thousands of pages of due diligence and are very detail oriented. You enjoy talking to your attorneys more than your partner/spouse and friends. You'd like to work with lenders and learn how to put all of the pieces of a leveraged acquisition together on a granular basis.
Figure out the fund's strategy and say that's what you really want to do: financial engineering, operational improvement, bk/restructuring, platform with bolt-ons, growth, mbo, whatever. "I'm really interested in learning and being intimately involved in acquiring a platform company and rolling up multiple follow on acquisitions and being involved in the analysis and integration of those companies into the mother ship."
Stay away from saying things like "I want to learn how to operate a company" because even though that's a popular view of what you do in PE, you really don't operate companies (yes there are exceptions) and if you want to operate a company, you should work in industry and try to become an executive where you actually (surprise) operate a company. PE is generally Board level and high level strategy. Management decides how many widgets to buy for this or that market and what the optimal headcount is for this or that division. PE owners decide to sell off a division or leverage the shit out of a company to pay a dividend.
OP you are pursuing a job that you don't even know why you want?
mcl116 just wants some pointers guys, give the guy a break. I think it is a matter of structuring your thoughts and how you communicate; a bunch of us struggle with that. It is good not get get stumped on this question.
Reasons are preceded by key question anyone would think about when considering a new career:
nailed it !
Well I met with the VP.
Very laid back, friendly guy. Had a great 45 minute meetin of mostly flowing conversation.
Wound up answering this without any prepared answer and just let my passion and desire come through.
The VP seemed very impressed and went as far as to say something along the lines of, "yeah, wow, you just nailed that on the head without me even having to ask you"
Definitely appreciate the more recent answers as I will be sure to incorporate this in future meetings/interviews.
And as messagevik said, I was just looking to get some pointers to help me gather my thoughts and articulate it as well as I possibly could.
thanks guy!
What did you end up saying?
I love Mitt Romney
This post has a lot of great insight. This is the type of quality insight that I remember the OG WSO would have.
Now it's just "rank my pe firm on presteege"
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