....and this is what we found
There is a reason Goldman Sachs analysts are happy with their snack boxes while the rival firms offer Peloton bikes... and it is all about the exit options.
We have analysed the LinkedIn profiles of 390 associates at TPG, Advent, CVC, Warburg Pincus, H&F and EQT to understand what jobs they did prior to joining the fund and the concentration of experiences is quite daunting.
Of the current Private Equity Associate class (2020-2021), 10% to 25% of all of the junior investors came from Goldman Sachs which was a clear #1 feeder into the large cap funds. Morgan Stanley and J.P. Morgan were close second/third with 8-9% of the incoming class on average. Other banks, such as BAML or Credit Suisse featured far less prominently, however did have significant variance in their popularity depending on each fund.
To replicate the results or to explore the data in more detail, click each of the individual companies below and go to "Frequency" tab: