Nowadays firms are pushing to build their assets under management — which in turn, grows the amount of fees they earn — in a variety of areas. This includes private equity, real estate, credit, infrastructure, secondaries, among other areas. And at the same time, PE firms need industry specialists to improve the operations at their ever-expanding pie of portfolio companies.
Jamie Schein, assistant dean & director of the career management center at Stanford's business school, said growth equity and technology focused PE firms are becoming more open to students with consulting and tech backgrounds. The University of Virginia Darden School of Business also reported a small percentage of its student body going into private-equity.
Reeder said that they typically look for students who fit a certain mold: two years banking experience, followed by two years private-equity experience, followed by business school. Or, in other words, students who are already steeped in the financial world and don't need to break in. This is known in the PE industry as the "2-2-2" model.
Smaller PE shops such as San Francisco-based Alpine Investors, Starwood Capital of Greenwich, Connecticut, and Chicago-based Tyree and D'Angelo, all picked up hires within Kellogg's graduating class of 2019, the school told Business Insider.
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