An industry group, The Private Equity Principal Group (PEPG), has been set up specifically for private equity principals and VPs.
The association was developed to provide members with the skills and resources needed to move up the career ladder, according to a statement.
“We began to see that there was not enough training and education for young professionals in the private equity space,” said PEPG chairman Neil Krauter. “PEPG’s goal is help provide the education, training, and connections necessary for principals’ path to partnership.”
Identifying future private equity partners is not an easy task, industry professionals have told pfm. At a more junior level, an individual will spend “the majority of their time with their head in Excel and demonstrating their efficiency in the technical aspects of deal execution,” as one GP puts it. While being a partner is much more than merely knowing the numbers, but about “convincing others you know what you are talking about.”
To aide its members, PEPG will provide networking opportunities, industry seminars and access to a knowledge sharing forum. The forum allows members to create a profile, seek peer-to-peer advice, search industry topics and review job postings.
Junior-level professionals are often cautioned to first build rapport before increasing their air time with senior staff. “Don’t show up day one and try to lead an investment committee review or hi-jack a diligence session,” warned one private equity executive in a recent conversation with pfm. The forum is designed to help principal’s better communicate their ideas, something partners say is vital in becoming a forward-facing private equity executive.
Membership is open to principal, VP and other post-MBA level executives at private equity funds. There is no cost to join, however an application process is required; applications can be submitted on the PEPG website.