If you're looking for a private equity (PE) fund that will you hire you out of a investment banking division this summer, we have a suggestion: try Silver Lake, the technology investment fund with offices in New York, Silicon Valley, London and Tokyo (among other places). Firstly, it loves to hire juniors from banks. Secondly, it loves to hire them at this point of the summer.
Silver Lake's latest hire is Arun Manikundalam, an NYU Stern economics graduate who spent 29 months in Morgan Stanley's technology, media and telecommunications group, before joining the fund as an associate in New York.
Silver Lake didn't comment for this article, but as far as we can establish, Manikundalam is one of its only associate hires this July. There well be more to come - in previous years Silver Lake has taken in an assortment of July associates globally, poached from major U.S. banks like Goldman, Citi, Evercore and Morgan Stanley. Tech bankers are its preferred specialism - earlier this year SilverLake raised a $15bn buyout fund dedicated to technology deals. It's big, although not as big as the $100bn Vision Fund at Softbank which has been picking off junior bankers too.
Now that an increasing number of banks pay analyst bonuses on a December rather than an August payment schedule, there's a tendency for private equity funds to pick off their preferred hires around April. Silver Lake clearly hasn't submitted to this schedule (and maybe never did given that it's been mostly hiring associates in July since 2014). It's good news if you're still looking to move into private equity now, although the reality is that interviews for any current hires probably started many months ago....
Photo credit: The New Icon - Adams Plaza Bridge - A Brand New World Canary Wharf by Simon & His Camera (On Explore 9th July 2015) by Simon & His Camera is licensed under CC BY 2.0.