Simon has been with Candover, a private equity fund that has invested more than €25bn in the past two decades, for three and a half years. After graduating from Cambridge University with a BA and MEng in manufacturing engineering, he joined a strategy consultancy that advised private equity funds. After four and a half years, he decided to apply to most leading funds directly, and registered with specialist private equity executive search companies. He got offers from two funds. Candover was the obvious choice.
Why private equity?
I studied manufacturing engineering at Cambridge University, and always believed that I had some entrepreneurial skills. It made me wonder where I'd get money from if I ever had the 'big idea', which led me in a roundabout way to the private equity sector. Private equity is basically venture capital scaled up massively to a level where we can buy and sell 100% of a company's share capital with a view to growing the business.
What distinguished you from other candidates?
I think it would be a good track record with branded consultancies, financial experience and qualifications (Securities Institute diploma), decent Excel skills, a genuine interest to learn new things and, hopefully, above-average interpersonal skills.
What have you worked on recently?
I completed two deals during 2006: UPC Norway, a triple-play cable company based in Oslo (subsequently rebranded to GET) for €450m; and EurotaxGlass's for €485m.I have a quasi-board role in both companies, and Candover developed business plans for both businesses, which requires structural and operational change over three years, resulting in a close relationship with executive management. I've also spent time on new deal origination, working on a range of investment ideas including premium spirits, sailing clothing, funeral homes and market research.
What's the worst aspect of your job?
Tight timescales. Doing a deal is hugely rewarding, but you have to be prepared to discard your personal life for a few weeks. That's never easy if you're letting people down at the last minute.
Simon's tips
- There are great jobs in private equity, but you need to know what you're applying for and what differentiates the funds.
- Your application needs to show that you've got the requisite skills and knowledge, as interviews are inevitably technical.
- Learn where funds are in their investment cycle, what sector(s) they do deals in and what their recruitment requirements might look like in the next few years.
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