Any thoughts on reneging on a PE offer? They gave me an exploding offer (<12hrs to decide) and I decided to accept it...but now I’m getting interviews from funds I would prefer over the current one...

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Just renege. I have no ethical qualms about doing so with firms who give aggressively short exploding deadlines. They know the dynamic they're creating and will simply reload with the next candidate in the queue.

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Cool humble brag

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What is PE

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KPMG it's an industry that pays a lot more than consulting, a lot faster.

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It’s a relatively small upper MM fund, so I don’t think burning the bridges there would hurt my reputation within the industry too significantly. Just a little uncomfortable with the idea of reneging in general, even though a lot of senior folks in PE have recommended this as the best course of action for me

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Private equity @kpmg

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Nah all good I just like to use acronyms to make myself feel cool. CDD = commercial due diligence. A PE company will engage a consulting firm to help them understand their investment thesis (should I invest in this company? Why/why not?). Specifically, CDD relates to understanding the market the target company plays in, how the company is positioned in the market, whether the market is growing/shrinking, whether that trend is expected to continue, are there viable growth levers the PE company can pull to ratchet things up before they exit the investment, etc.

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No different from taking an offer at another big 4 then ur firm counters and u say. U gotta do what u gotta do. Ur life ur career.

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If you’re the right candidate for them, why do they need to cram the offer down your throat, during a holiday weekend? They’ll find someone else, no big deal.

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Goes without saying, but get the other offers first before thinking about this

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Sorry for the ignorance @Parth - what’s a CDD shop?

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And pretty much only MBB + LEK + P-EY + S& deals + maybe some others idk do this. So since this work is so similar to what goes on in-house at PE funds (they will often keep this work in-house too), PE funds hire from these firms.

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Very much appreciated for the response (especially the haste over the holidays 😳)

You seem like an amazing person, and I wish there were more people on Fishbowl (and the world) like you.

Happy Holidays Parth! You the real MVP today ✌️

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Haha just another 🐠 at home on my parents’ couch bored outta my fricken mind. Happy holidays to you too

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>renigged

😧😕😏😂

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Why Parth...whyyy

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You're reneging over the opportunity to interview with another firm.. not even an offer?!

@D1, sorry no I meant I would only renege if I got one of these other offers. But taking the interview would mean that I’m willing to renege, just want to make sure I’m mentally/ethically prepared for that
@BCG 1 - great point, I agree

What kind of work is there in PE. Generalists have a chance there?

PE funds pretty much only recruit from MBB + CDD shops (LEK, P-EY, S& deals...)

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