Storms rumbled across northern New Jersey this week. We received at least two flash flood warnings and a rare tornado warning in my ruby-slippered hamlet of Fanwood.
Private equity land, meanwhile, basks under sunny skies. But Solveigh Marcks, managing director and founder of The Denali Group, an executive search firm, said during a recent webinar that she sees some buyout firms boarding up the windows and tying down the furniture.
Continue reading “Renovo, Balmoral, Hidden Harbor raise special-situation funds”
You won’t all be rich enough to purchase copies of the Magna Carta (a la Carlyle Group’s David Rubenstein)–or to have the lion-guarded main building of the New York Public Library in Manhattan named after you (Blackstone Group’s Stephen Schwarzman)–or, as Vista Equity Partners’s Robert Smithpromised this week, to eliminate the student debt of an entire graduating class.
But you can still ask your boss for a raise, a higher bonus, a bigger slice of the carry pie. And your odds of success will be greater if you can present evidence that you’re a hard-working yet underpaid flight risk.
Continue reading “Big private equity firms pay better than small ones”
I’d get it if you aspired to become the next Leon Black, David Bonderman or Henry Kravis. But why not become the next Margot Wirth instead?
Ms. Wirth, the director of private equity for the California State Teachers’ Retirement System, earned more than $450,000 in fiscal year 2017-2018, according to state records. She had the potential to earn more–over $570,000–had her full bonus paid out.
Sure you’ll work hard on the buy-side of the market. But you’re unlikely to have to endure a series of 80-hour work weeks–or to be on call 24-7 while some big deal comes to fruition–or to get an e-mail from HR insisting you take Sunday afternoons off to achieve work-life balance. Consider how Joy Moglia, CFA, investment officer at Weizmann Global Endowment Management Trust, described her job at last month’s Catapult event hosted by the Toigo Foundation.
Continue reading “Want to be the next Henry Kravis? Try being Margot Wirth instead”
Alice in Alice in Wonderland wondered as follows: what good is a book without pictures or conversations in it? Similarly, I must wonder, what good is the career section of a private equity firm’s Web site without job listings in it? (I’m looking at you, Thoma Bravo, which did not respond to a list of questions by press time.)
So I put my research team to work, scouring the Internet to find the 22 private equity firms listed below whose Web site career sections include job listings. I’ll be checking these sections regularly, beloved readers, in order to flag top opportunities for you. But I don’t believe in keeping valuable lists to myself. If I missed any please email me at firstname.lastname@example.org.
Continue reading “Blackstone, Carlyle, Vista Equity advertise open jobs on their Web sites”
Forget cocaine, heroin, ecstasy or any of the other mind-bending molecules out there. Nothing compares to the euphoria of attending your first private-company board meeting and explaining to the spellbound CEO, say, why her new corporate logo looks like crap.
How you handle the rush of confidence that comes with sitting on your first portfolio-company board will impact not just the success of your investment. It will also determine how swiftly you ascend the partnership ranks.
And so I, your self-appointed career guide, went out and talked to veteran board members John Kenney, founder and partner, JMK Consumer (backer of “cult consumer brands”) and David Acharya, partner, AGI Partners (whose portfolio company Impact XM “powers brand experiences”) and boiled their advice down to seven principles:
Continue reading “Hubris averted: 7 principles to follow when serving on your first board”