Venture capital is minority investment in early stage businesses to support rapid growth. The businesses may be exploiting leading edge technology, developing new markets or taking advantage of market changes.  This is the most risky form of investment and the investor is relying on the growth of the business for its return.  Funds tend to specialise for example in ICT, life science or clean or renewable technologies. The VCs like M&A, corporate business development or strategy consultancy backgrounds with a focus on the relevant sector. You’ll know a lot about your niche and have great financial analysis and product research skills.

Mezzanine is part of the acquisition structure, a form of debt with equity upside. The skills required are similar to private equity and you should emphasise leveraged finance experience. 

Fund investors make long term commitments to private equity funds. They’re often known as limited partners or LPs and include fund of funds, pension funds, insurance companies and family offices.  They look at a variety of backgrounds including M&A, leveraged finance or strategy consultancy. You’ll need to have a top class academic background, a collaborative and cooperative style, strong qualitative as well as quantitative skills, intellectual curiosity and great written and presentation skills.

Secondaries teams buy LP interests in private equity funds. The investments are technical and complex. They tend to recruit from private equity, accounting or investment banking and you’ll need to have strong analytical and transaction execution skills.

Investor relations is managing the relationships with investors in the fund and building relationships with future investors.  Funds tend to recruit from either another role in private equity or a corporate finance background.  You have to have good numeracy, be well organised and like the selling aspect of the job. 

Business development, origination is generating investment ideas. An increasing number of private equity funds have someone or a small team responsible for this. They look for candidates who can research and put together pitches, sometimes cold calling to develop relationships. You’ll probably have a background in equity analysis, corporate finance or consulting.

Marketing is managing the external image of the firm through press and public relations, websites, literature and so on as well as actively promoting the firm to contacts and intermediaries through a programme of events.  You’ll need to have a strong academic background, financial services marketing experience and good writing and presentation skills.

Financial control and fund administration are important roles in private equity working closely with the CEO on many aspects of the development of the business. These roles offer long and challenging careers for ACAs who have worked in fund management or a similar business. You might report to a CFO or become instantly responsible for all control issues in a smaller fund. You need to be prepared to do anything and everything from straight forward control to the more complex partnership related requirements. You may also get involved in compliance and company secretarial work as well as working with the fund's advisers on the most tax efficient structures for the business. 

Administration and secretarial requires great organisational skills, attention to detail, high energy and an ability to do at least ten things at once in these challenging environments. 

PER works with Tiger Recruitment on administration and secretarial roles, click here to send them your CV.