There is quite a big difference indeed. First, those are two very different jobs:
Private Equity: Long term investments (5 years+), majority shareholding usually, strong involvement in setting the company's strategy, choosing the management team, etc. Deal structuring very important, lengthy process, heavy negotiations, lots of information to analyse
Skills required: LBO modelling, accounting, communications skills, ability to work very hard when on deal, very broad general knowledge, network and "pedigree"
Hedge Funds: short term investments (hours, days), small stakes (usually less than 5%), does not get involved in managing the company. Just need to hit the "buy" button of the trading screen to buy the stakes.
Skills required: modelling (various kinds), capital markets knowledge, resistance to short term stress, absorb lots of news daily, taking judgement calls with limited information, "lonely" job
Based on the above, you can imagine that the interviews will be different. The PE interview process is detailed on this website. For hedge funds, it usually consists of picking investment ideas and justifying why you picked this idea. Also testing your broad finance and economics knowledge.
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There is quite a big difference indeed. First, those are two very different jobs:
Private Equity: Long term investments (5 years+), majority shareholding usually, strong involvement in setting the company's strategy, choosing the management team, etc. Deal structuring very important, lengthy process, heavy negotiations, lots of information to analyse
Skills required: LBO modelling, accounting, communications skills, ability to work very hard when on deal, very broad general knowledge, network and "pedigree"
Hedge Funds: short term investments (hours, days), small stakes (usually less than 5%), does not get involved in managing the company. Just need to hit the "buy" button of the trading screen to buy the stakes.
Skills required: modelling (various kinds), capital markets knowledge, resistance to short term stress, absorb lots of news daily, taking judgement calls with limited information, "lonely" job
Based on the above, you can imagine that the interviews will be different. The PE interview process is detailed on this website. For hedge funds, it usually consists of picking investment ideas and justifying why you picked this idea. Also testing your broad finance and economics knowledge.