A private equity firm is often small and close-knit, and while responsibilities may differ, senior professionals have plenty of interaction with the newbies. It follows, then, that you’ll want to choose carefully when looking to add to your team at any level—high or low, you’re all working together towards a common goal. It can be hard to know what to look for in an ideal candidate, especially in such a tight-knit group, but don’t worry! I’ve done the legwork for you.
Here are a few of the special traits I look for when I’m searching for an investment professional:
Invested in Improvement
A top-tier investment professional will always be looking for opportunities to improve operations, generate ideas for improvement, and optimize negotiations. A truly great investment professional in the field of private equity will be able to dream big and follow through with practical solutions for making those dreams come true, every time. From advice and support, to financial strategy and optimizing revenue, your new team member should have the drive to succeed and be constantly driven to grow and improve.
As a private equity firm, of course your first concern is getting capital commitments from LPs and external financial institutions. So, your ideal candidate should understand the importance of closing deals, sourcing, prospecting, and due diligence. You want someone who’s good at prospecting—but still inspires the personal relationships necessary to bring those big deals to a smooth close. Those strong interpersonal skills should also translate into developing long-standing relationships that they can go back to time and time again throughout their career. Building and then maintaining those strong relationships with others in the industry is a must-have for those in this field.
As the goal for a private equity firm is to exit your portfolio companies at a significant profit, you want your team to be as devoted to managing resources as you are. Your new team player should be able to optimize value capture, grow revenue, cut costs, and again, optimize working capital. The ideal investment professional for your private equity firm will know how to manage and assist portfolio companies without micromanaging or stepping into CEO shoes. It’s a fine line to walk, but the best candidates understand how to help get the best results without getting too involved.
Perhaps most importantly, your new investment professional will be joining your team of investment all-stars, so you want to make sure your new hire will fit in with the team you already have. Private equity firms are smaller than big investment banking divisions at banks, so you really need to take on someone who communicates well, can collaborate, and is willing to learn from the more seasoned investment professionals you already have on your team. You want someone with all the know-how, who is also willing to listen and always goes the extra mile.
If you’re looking for your next top professional in the world of private equity, GRN-MidCities might have just who you’re looking for already on our list. Contact me today to locate your next top talent—professionals this qualified will get snatched up quickly.