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If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Private Equity At a high level, the goal of private equity is to invest in businesses, manage those businesses, and then exit those investments at a profit. Private equity is the process of investing in businesses, often with the use of debt or structure to enhance returns. Most people can intuitively understand how the private equity machine works, but it can be difficult to understand exactly what goes into the job until you get to the workplace. The process of investing may seem intuitive, but there are a large number of parts that are esoteric and unexpected. In this post, we’re going to go over a couple of the most common work processes in private equity and explain the very specific tasks that go into assembling a work deliverable.. Associates will spend a large amount of time in Excel to build financial models, conduct due diligence, and assemble PowerPoint presentations. Private Equity Operations Let’s cover the most fundamental operations in the private equity business, what the significance of each function is, and then discuss a few of the main work deliverables in each. We'll cover the following categories: Sourcing Transactions Performing Due Diligence Negotiating Deals / Investing in Businesses Managing Investments / Portfolio Companies We're also going to cover Raising Funds, which is the function that involves raising the money required to start a private equity fund. 1. Sourcing Transactions Sourcing deals and investments is a critical part of private equity, particularly in an environment where capital is relatively cheap. Lots of money has flown into private equity (and venture capital), so there is a greater emphasis on finding and sourcing deals. If you find a company before it comes to market (i.e., before they actively decide to sell and hire an investment bank), you can potentially acquire a business at a lower multiple. In private equity, you need to be aware of how an industry operates, who the key players are, and which companies fit your fund’s investing mandate. Example Tasks: Doing expert calls to learn how an industry fits together and who the key players are Preparing an industry landscaping deck that covers industry trends and includes company profiles Using a CRM (customer relationship management software) to keep track of potential investment ideas Reading industry research reports to learn about different companies Taking meetings with investment bankers and reading their pitch decks for potential ideas As an Associate, you might support your team by building company profiles in PowerPoint, taking notes while on calls, and attending meetings with investment bankers or management teams. Associates at more growth equity oriented firms may also be expected to cold call management teams to build relationships. Senior private equity folks spend much of their day on sourcing and looking for investing opportunities. It is common for an MD in private equity to spend most of their week on the road to attend management meetings or industry conventions. 2. Performing Due Diligence on Potential Investments After you find a potential investment idea, you need to do the work to determine whether if it is a good investment or not. This process is called “due diligence” and it essentially describes all forms of investment analysis that a private equity firm might do. Private equity investors typically hold a business for 5-8 years, so you need to do a lot of work to make sure that your investment is a good decision. Many funds will hold between maybe 10-20 companies, so every investment holds significant weight in the portfolio. Most private equity funds will have a rigorous investment committee process, whereby you need to present all your diligence to the senior members of the private equity firm. Example Tasks: Building an LBO model in Excel to determine the return profile of an investment Developing a work plan to determine how different diligence streams will be managed Studying the company’s unit economics and churn to determine whether the company’s margins will increase over time Hiring consultants to evaluate the TAM of an industry Taking files from the data room to substantiate model assumptions Putting together an investment committee memo for senior members to evaluate data Diligence is typically the process that Associates will spend most of their energy on. It’s typical for a mid-level professional like a VP or Principal to organize the workstreams and coordinate other professionals (consultants, accountants), whereas the Associate is the one putting together the analysis. The Associate will be responsible for the Excel model, making PowerPoint slides for the investment committee memo, and combing through data room files, as a starter. Most of the actual decision-making will be made by senior-level private equity people. It often takes several investment committee meetings for a deal to be made. 3. Negotiating Deals / Investing in Businesses Determining that a company is a good investment is only half the battle (or even less). Concurrent with diligence, private equity firms will have to negotiate with the selling company on matters of price and structure. Most large companies that come to market will be represented by an investment bank, who will devise a sale process that maximizes the price that a company can sell for. Investment banks are exactly like real estate agents that work on behalf of companies to sell them. Example Tasks: Drafting a term sheet, which summarizes a private equity firm’s investment proposal Evaluating recent deals in the market and valuations to determine what value to bid Talking to investment banks and lenders to determine how much debt you can raise for a transaction Speaking with investment bankers to determine what amount to bid Working with lawyers to draft a Share Purchase Agreement, which defines the terms of the investment Preparing a Funds Flow model to determine how money will be paid out in a transaction Most of the real negotiations will be done by the senior-level people of the team. Many investment processes are handled by investment bankers, where private equity firms submit what they are willing to bid on a company. Companies often pick whichever firm is willing to pay the most. 4. Managing Investments / Portfolio Companies After a company is purchased and the deal closes, the real work begins. Most firms will have a vision for how the company will grow and what to focus on for the investment. Some companies may focus on margin expansion and begin cutting costs, while others may begin focusing on M&A to drive inorganic revenue. Private equity firms will typically get a few board seats and be able to influence the direction of the business. Example Tasks: Attending quarterly board meetings and discussing company strategy Hiring new management team or replacing current staff Implementing cost-cutting strategies or investing in new divisions Helping with the corporate finance or corporate development teams Helping the company develop a financial model or long-term budget Eventually conducting a sale process to sell the investment There is a wide range of approaches when it comes to managing your own portfolio in private equity. Some firms are extremely hands-on and want companies to execute on a specific vision, while other firms may let the management team keep operating as they are. At the Associate level, you will often help support a lot of the corporate finance of the business. You may be responsible for sanitizing the portfolio company’s financials, performing quarterly valuation, or helping with the company budget. The level of involvement required often depends on the sophistication of the company, with larger businesses often having their own robust finance team. Eventually, private equity firms will have to engage in some sort of sale process to exit an investment. The private equity firm may hire an investment banker and start a formal process, akin to the acquisition process. 5. Raising Funds and Interacting with Investors The final fundamental operation in private equity is raising money. Private equity (and much of the buyside) mostly works because it pools together large amounts of capital from other investors. Most of the money in the largest private equity firms is raised from outside sources, so a lot of work is put into managing these relationships. Pension funds and family offices are some of the largest investors into private equity firms. Example Tasks: Building an investor presentation that discusses the private equity fund’s investment mandate and strategy Pitching investors on the merits of your investment ideas Preparing quarterly valuation models and reports for investors to read Holding an annual meeting where investors can visit and gauge fund performance Conclusion The main engine at work in private equity is to invest in businesses and then sell those investments at a profit. But there is a great deal of work deliverables that go into each step in order for a deal to get done.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Traveling in Equity Research In my view, traveling in equity research is one of the most fun parts of the job, unlike the experience in other areas of finance. More often than not, the primary deliverable from traveling as a junior in equity research is to write a key takeaways report highlighting what you’ve learned on your trip. That means you’re more focused on absorbing information and asking thoughtful questions which would be useful for your clients throughout your trip. From my experience, all travel at the junior level falls outside of the busy earnings season. This means that there likely wouldn’t be urgent tasks to deal with on the road. However, the reality of working in equity research is that much of your work involves reacting to breaking news, so you might have to quickly publish an unexpected note from the road. More often than not, if it’s something another junior member of your team can handle, you’re generally free to focus on being present on your trip. While team sizes can vary depending on coverage, they tend to be on the smaller side overall, so you might not always have someone to cover for you. Hours in equity research are relatively more relaxed than in investment banking, so you actually might get the chance to explore a new city in your downtime. There are many reasons why equity research tends to be a great career, as discussed in the Canary Wharfian. Traveling as an Equity Research Analyst I remember being surprised at how quickly I was given an opportunity to travel as a junior in equity research. I traveled to attend an industry conference in Las Vegas within a few months of my first equity research job at Goldman Sachs. However, given the dynamic nature of the job, and work that’s unique to individual teams, it’s tough to generalize across all potential experiences. So, why does equity research give juniors an opportunity to travel more than other jobs in finance such as investment banking? Event coverage – A big part of running a successful equity research franchise is visibility. If a company you cover is hosting an event with your competitors in attendance, your equity research team will need to be present to avoid missing out on useful information in person. The senior analyst would send a junior to attend on behalf of the team if they can’t attend themselves, in order to take notes which they would attempt to turn into a complete draft of a report. Teams care about the development of junior analysts – A quick way to learn as a junior is to be around other seasoned analysts to hear the types of questions they’re asking corporate management. Analyst development tends to be more clearly in focus in equity research since average tenure is longer particularly when compared to investment banking. As one of the most common exit opportunities from equity research is to the buy side, it’s highly likely that juniors would become direct clients of an equity research team after a transition. Maintaining good relationships and investing in junior development is actually a good business strategy from the perspective of a bank’s equity research department. Helps to ramp up quickly on a stock or industry – Visiting a company’s factory or headquarters can help solidify the nature of its operations to a junior analyst. For example, attending a factory tour can help you visualize how a company lays out its assembly line, the types of raw materials used, and how well a management team works. As a junior, you’ll likely attend company tours as the sole representative of your team, particularly for smaller cap companies that are less important to your team. More flexibility in delivering a finished product – There’s less of a time crunch associated with publishing notes from some trips, especially since the final reports tend to have longer shelf lives. There’s no live deal on the line that would demand your attention in the way that there might be for investment bankers. You’ll likely have time to draft a key takeaways report at the end of a travel day which you’ll send back to your senior analyst to review before publishing. You will have time to iterate to get the correct tone. Types of Events Analyst Days & Corporate Events Analyst days are hosted by companies in order to give analysts who cover their stock a better understanding of their business model, strategy, and new market opportunities they are pursuing. They sometimes include updated information about financial performance, which warrants publishing a report and model update quickly. These are normally either hosted at the company’s headquarters or at an accessible location for most of the analyst community, which is likely in New York City. If you work in Manhattan, that means that you’ll probably just be commuting by subway. Client Meetings In-person client meetings are a way for equity research analysts to keep their clients updated on their investment recommendations while giving them the opportunity to ask questions and get real-time feedback. It’s very unlikely you’ll be attending client meetings in person alone as a junior, even within the same city you’re working in. Senior analysts typically schedule several meetings with clients within a city they’re already traveling in as part of their marketing. You'll likely be asked to attend some of them if it's convenient for your senior analyst to bring you along. Conferences You’ll attend many industry conferences as an equity research junior. These events host many (sometimes hundreds) of companies within a small group of related industries. Their function is to give participating companies an opportunity for business development, while doubling as a forum for meetings between investors, company management, and equity research analysts. They’re an excellent opportunity to learn about many different important companies in your coverage group, and directly interact with both clients and corporates. As a junior, I have traveled to many conferences, both internationally and across different cities in the U.S. The frequency of traveling to conferences depends on the industry you cover. I still think it would be safe to say you’ll travel at least a couple of times a year to attend conferences to the extent they’re hosted outside of the city you work in. This link from StreetInsider can give you an idea of some conferences hosted by investment banks. For example, if you’re covering healthcare stocks out of Manhattan in J.P. Morgan, you’ll likely attend its annual Healthcare conference in San Francisco.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview The Ontario Teachers' Pension Plan, or OTPP, is a Canadian pension fund that manages over $240B on behalf of public sector teachers in the province of Ontario. OTPP's strategies include Private Capital, Credit, Infrastructure, Natural Resources, Real Estate, and Venture Growth. OTPP provides retirement, survivor, and disability benefits to eligible teachers in Ontario. The organization was established in 1990 and manages a diversified portfolio of investments across various sectors and geographies. OTPP is one of the largest institutional investors in Canada, with a global presence and investments in companies and assets around the world. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with OTPP, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Transaction OTPP's Infrastructure team acquired a majority stake in Spark Towerco, a New Zealand mobile tower business. Transaction Description: Ontario Teachers' Pension Plan Board acquired a 70% stake in Spark TowerCo from Spark New Zealand Limited (NZSE:SPK). Transaction Date: Closed November 2022 Transaction Value: NZ$900mm Press Release Fact Sheet Company Name: Ontario Teachers' Pension Plan Description: The Ontario Teachers' Pension Plan Board is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario Firm Category: Pension Plan Status: OTPP is a privately held company Founded: 1990 Assets Under Management: >$240B Chief Executive Officer: Jo Taylor Headquarters: Toronto, Canada Resources Company Website LinkedIn Glassdoor Glassdoor (Canadian Salary) Based on Glassdoor, the average base salary for an Analyst at OTPP is $80k. We note that this salary information may be dated and not reflective of their current pay.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview Hg Capital is a tech-oriented private equity firm with investments across the US and Europe, managing an AUM of $55B. HG Capital specializes in investing in software and service companies. The firm was founded in 1985 and is headquartered in London, with additional offices in Germany and the United States. HG Capital is known for its focus on mid-market companies, and it has a track record of partnering with management teams to drive growth and create value. The firm typically invests in companies with enterprise values between £50 million and £500 million. Some of HG Capital's most notable investments include investments in software companies such as IRIS Software Group, Allocate Software, and Access Group, among others. The firm has also made investments in healthcare, education, and financial services companies. From 2018 to 2021, Hg Capital was ranked among the top ten most acquisitive firms in the technology space. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Hg Capital, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Transaction Hg Capital led Europe's largest software buyout of Visma, a critical serivice provider to SMBs in Northern and Central Europe. Hg was a key shareholder for the previous 11 years and now holds 41% of the company. Transaction Date: Closed September 2021 Transaction Value: $5.3B Press Release Fact Sheet Company Name: Hg Capital Description: Hg Capital is a private equity firm targeting technology buyouts primarily in Europe and the US. Hg has made nearly 200 investments in the technology and services sectors Firm Category: Private Equity / Upper Middle Market Status: HG Capital is a privately held company Founded: 2000 Assets Under Management: $55B Flagship Fund Size: HgCapital 8 (£2.5B raised in 2017) Chief Executive Officer: Nic Humphries Headquarters: New York City, USA Resources Company Website LinkedIn

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview Jana Partners is an event-driven investment firm managing $1.6B. Jana Partners was founded in 2001 by Barry Rosenstein and it is headquartered in New York. Some of Jana Partners' most notable investments include its stake in Whole Foods Market, which played a key role in Amazon's acquisition of the company, and its investment in Conagra Brands, where it successfully pushed for changes to the company's strategy and leadership. In addition to its traditional activist activities, Jana emphasizes socially responsible investing through its campaigns. In recent years, Jana Partners has been actively involved in efforts to promote sustainable investing and has called for greater attention to environmental, social, and governance (ESG) considerations in investment decision-making. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Jana Partners, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Activist Impact In 2014, Jana Partners bought a 10% share in Petsmart and successfully convinced investors to sell to BC Partners for $8.7B. This represented a 40% premium to Petsmart's stock average price during Jana's share purchase. Fact Sheet Company Name: Jana Partners Description: Pershing Square Holdings, Ltd. is an investment holding company structured as a closed-ended fund principally engaged in the business of acquiring and holding significant positions in companies Firm Category: Activist Investor Status: Jana Partners is a privately held company Founded: 2001 Assets Under Management: $1.6B Chief Executive Officer: Barry Rosenstein Headquarters: New York City, USA Resources Company Website LinkedIn Glassdoor H1B Data Page (U.S. Salary) Based on the H1B Database, the average base salary for an Analyst at Jana is $150k. We note that this salary information may be dated and not reflective of their current pay.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview Temasek is a Singapore-based pension fund managing over S$403B, of which a percentage of profits is given to the government for social initiatives. It focuses its operations in Asia, with offices in 12 cities across the world. Temasek manages a portfolio of investments in various sectors such as financial services, telecommunications, media, and technology. The company was founded in 1974 and is wholly owned by the Singaporean government. Temasek operates as a long-term investor, with a focus on value creation and sustainable growth. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Temasek, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Transaction Temasek acquired a majority stake in TIC (testing, inspection, and certification) service provider Element Materials. Previously a minority holder, Temasek purchased its new stake from British PE firm Bridgepoint. Transaction Description: Temasek Holdings Limited agreed to acquire remaining unknown majority stake in Element Materials Technology Group Limited from Bridgepoint Group plc (LSE:BPT). Transaction Date: Closed July 2022 Transaction Value: $7B enterprise value Press Release Fact Sheet Company Name: Temasek Description: Temasek is a global investment company and active investor, with four key structural trends guiding its long-term portfolio construction – Digitization, Sustainable Living, Future of Consumption, and Longer Lifespans Firm Category: Pension Plan Status: Temasek is a privately held company Founded: 1974 Assets Under Management: S$403B Chief Executive Officer: Dilhan Sandrasegara Headquarters: Singapore Resources Company Website LinkedIn Glassdoor H1B Database (U.S. Salary) Based on Glassdoor, the average base salary for an Investment Associate at Temasek is $89k. We note that this salary information may be dated and not reflective of their current pay.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview Sachem Head Capital Management is a value-oriented activist fund with an AUM of $6.2B. Sachem Head is a New York-based firm and was founded in 2012 by Scott Ferguson, a former partner at activist hedge fund Pershing Square Capital Management. Sachem Head specializes in a concentrated, long-term investment approach and focuses on investments in the consumer, technology, and healthcare sectors. The firm is known for taking large positions in a small number of companies and working with management teams to drive long-term value creation. Sachem Head is also an activist investor and has a reputation for being one of the most successful activist hedge funds in recent years. Past Sachem Head investments include Autodesk and Zoetis. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Sachem Head, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Fact Sheet Company Name: Sachem Head Capital Management Description: Sachem Head Capital Management is an American value-oriented public investment management firm Firm Category: Activist Investor Status: Sachem Head is a privately held company Founded: 2012 Assets Under Management: $6.2B Chief Executive Officer: Scott Ferguson Headquarters: New York City, USA Resources Company Website LinkedIn (no official page) H1B Data Page (U.S. Salary) Based on the H1B Database, the average base salary for an Analyst at Sachem Head is $150k - $154k. We note that this salary information may be dated and not reflective of their current pay.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview CPP Investments (also known as the Canada Pension Plan Investment Board) is a pension fund that invests on behalf of all employed Canadian citizens. Due to this major contribution base, the fund manages over $539B. CPP employs strategies including private equity, real assets, active equities, factor investing, and credit. The organization was established in 1997 and has grown to become one of the largest pension fund managers in the world. CPP manages a diversified portfolio of assets, including public and private equities, fixed income, real estate, infrastructure, and other assets. As a long-term investor, CPP seeks to generate sustainable returns that help support the future retirement income needs of Canadians. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with CPP Investments, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Transaction CPP was among the investors participating in the acquisition of digital security software provider McAfee. Transaction Description: Advent International Corporation, Permira Advisers LLC, Crosspoint Capital Partners, Canada Pension Plan Investment Board, and others entered into a definitive agreement to acquire McAfee Corp. (NASDAQ:MCFE). As part of the transaction, the Investor Group acquired all outstanding shares of McAfee common stock for $26.00 per share. Transaction Date: Closed March 2022 Transaction Value: $14B, all cash Press Release Fact Sheet Company Name: CPP Investments Description: The Canada Pension Plan Investment Board, operating as CPP Investments, is a Canadian Crown corporation and one of the world's largest private equity investors solely managing CPP contributions paid by workers and employers Firm Category: Pension Plan Status: CPP Investments is a privately held company Founded: 1997 Assets Under Management: $539B Chief Executive Officer: John Graham Headquarters: Toronto, Canada Resources Company Website LinkedIn Glassdoor H1B Data Page (U.S. Salary) Based on the H1B Database, the average base salary for an Associate at CPP is $102k - $130k. We note that this salary information may be dated and not reflective of their current pay.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview Providence Equity Partners is a private equity firm founded in 1989 and headquartered in Providence, Rhode Island. Providence Equity is a major private equity investor and has an AUM of >$32B. Providence Equity focuses on growth-oriented media, communications, education, and technology investments across North America and Europe. The firm has a global presence, with additional offices in New York, London, Hong Kong, and other locations. Providence Equity has particular expertise in media and telecommunications, and it has made investments in companies such as Hulu, Topgolf, and the Yankees Entertainment and Sports Network (YES). Providence Equity was also responsible for launching the growth equity firm PSG Equity. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Providence Equity, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Transaction Through a growth investment in partnership with Apollo, Providence Equity helped found North Road, a multi-genre film and TV studio led by renowned businessman Peter Chernin. Transaction Description: The North Road Company announced that it has received $500 million in funding from new investor, Providence Equity Partners L.L.C. for a minority stake in the company. Transaction Date: Closed July 2022 Transaction Value: $500mm Press Release Fact Sheet Company Name: Providence Equity Partners Description: Providence Equity Partners is a specialist private equity investment firm with more than 170 global growth investments in media, communications, education, and technology Firm Category: Private Equity / Upper Middle Market Status: Providence Equity Partners is a privately held company Founded: 1989 Assets Under Management: $32B Flagship Fund Size: Providence Equity Partners VIII LP ($6B raised in 2019) Chief Executive Officer: Jonathan Nelson Headquarters: Providence, USA Resources Company Website LinkedIn Glassdoor H1B Data Page (U.S. Salary) Based on the H1B Database, the average base salary for an Associate at Providence Equity is $115k. We note that this salary information may be dated and not reflective of their current pay.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview Elliott Management is a public equity activist investment firm with an AUM of $55.7B. It was founded by Paul Singer, a leading investor who came to prominence by pursuing distressed debt and going after the issuers through court battles if left unpaid. Elliott Management invests across various sectors, with a particular focus on technology, financial services, and energy companies. Elliott Management is known for being one of the largest and most successful activist investors in the world, with a track record of driving significant improvements in the companies it invests in. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Elliott Management, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Activist Impact After building up a 6% stake in 2018, Elliott Management pressured British hospitality chain Whitbread Plc to spin off its Costa Coffee business. It argued that Whitbread's two key subsidiaries, Costa and hotel chain Premier Inn, were two distinct business with very little overlap and thus could generate extra value by selling off the coffee line. Transaction Date: Closed January 2019 Transaction Value: $3.9B Press Release Fact Sheet Company Name: Elliott Management Description: Elliott Investment Management is an American investment management firm and one of the largest activist funds in the world Firm Category: Activist Investor Status: Elliott Management is a privately held company Founded: 1977 Assets Under Management: $55B Co-CEOs: Paul Singer, Jonathan Pollock Headquarters: New York City, USA Resources Company Website LinkedIn Glassdoor H1B Data Page (U.S. Salary) Based on the H1B Database, the average base salary for an Analyst at Elliott Management is $125k - $150k. We note that this salary information may be dated and not reflective of their current pay.

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview Francisco Partners is a private equity firm founded in 1999 and headquartered in San Francisco, California. Francisco manages an AUM of $24B. The firm invests in technology and technology-enabled businesses across various sectors, including healthcare, fintech, cybersecurity, and software. Francisco tends to target controlling stakes in private companies, having made over 300 investments throughout its lifetime. Some of Francisco Partners' most notable investments include investments in healthcare companies such as Capsule Technologies, which provides medical device integration and data management solutions, and AdvancedMD, a provider of cloud-based practice management and electronic health record software. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Francisco Partners, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Transaction Francisco Partners announced a growth investment into Canadian restaurant management platform, TouchBistro. The funds will be used by TouchBistro to expand product offerings, core services, and continue strategic acquisitions. Transaction Date: Closed November 2022 Transaction Value: $150mm Press Release Fact Sheet Company Name: Francisco Partners Description: Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses Firm Category: Private Equity / Upper Middle Market Status: Francisco Partners is a privately held company Founded: 1999 Assets Under Management: $24B Flagship Fund Size: Francisco Partners VII, L.P. ($13.5B raised in 2022) Chief Operating Officer: Dipanjan Deb Headquarters: San Francisco, USA Resources Company Website LinkedIn Francisco Partners does not have any Glassdoor nor H1B salary information

If you're interested in breaking into finance, check out our Private Equity Course and Investment Banking Course, which help thousands of candidates land top jobs every year. Overview Oak Hill Capital Partners is a private equity firm founded in 1986 and headquartered in New York City. Oak Hill has an AUM of >$19B. The firm invests in companies across various sectors, including business services, consumer, healthcare, and media & communications, among others. Oak Hill Capital has additional offices in Stamford, Connecticut, and Menlo Park, California. Some of Oak Hill Capital's most notable investments include investments in Duane Reade, a leading drugstore chain in the New York City area, and FirstLight Fiber, a fiber-optic network provider in the Northeast United States. The firm has made over 100 investments since being founded and follows a thematic investing approach. Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Oak Hill Capital, you should make sure you know: 1 deal that the investment team you are recruiting with has done 1 person at the firm (ideally someone who would have influence over your recruiting process) 1 business model-specific detail to mention We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews. Selected Transaction Oak Hill Capital formed and injected a growth investment into fiber-to-the-premises FTTP) high-speed internet service Omni Fiber. This will bring to market a new option for high-speed Internet service in small and mid-sized markets in the Midwest that have historically been underserved by large phone and cable companies. Transaction Date: Closed July 2022 Transaction Value: $250mm Press Release Fact Sheet Company Name: Oak Hill Capital Description: Oak Hill Capital Partners is a private equity firm with committed capital from entrepreneurs, endowments, foundations, corporations, pension funds and global financial institutions Firm Category: Private Equity / Middle Market Status: Oak Hill Capital is a privately held company Founded: 1986 Assets Under Management: $19B Flagship Fund Size: Oak Hill Capital Partners V ($3.8B raised in 2021) Chief Executive Officer: Tyler Wolfram Headquarters: New York, USA Resources Company Website LinkedIn Oak Hill Capital does not have any Glassdoor nor H1B salary information