1st Year Associate / Generalist
The Associate position is a generalist role.The position will have exposure to all aspects of Grey Mountain's business, primarily in the capacity of supporting the executives and investment professionals who are directly responsible for specific business functions.Tasks include industry and market research, strategic planning, financial modeling, deal sourcing, investment evaluation, and preparing memorandums and presentations.
The Associate is one of Grey Mountain’s only generalist positions and as such will interface with all levels of investment professionals and executive management. The Associate will report directly to one of the Managing Partners.
1. Industry assessments – The Associate will play the lead role in producing assessments of each affiliate company’s competitive landscape to assist in the annual Business Planning Processes. The Associate will also produce industry assessments for potential acquisition candidates. Timing – immediately or as required.
2. Financial modeling - Build or be able to build comprehensive financial models that reflect buyout transactions with key operational drivers. Timing - immediately or as required.
3. Transaction execution support – Assist in the Transaction Execution function in closing new platform acquisitions, add-on acquisitions, exits and financings. This will involve negotiating documentation, arranging for external financing, interfacing with the firm’s financial advisors, developing a deep understanding about the investment, and other activities related to this area. Timing – immediately or as required.
4. Research - Be able to research various topics as required (industry, due diligence, legal, business issues, etc.) by using online resources or by contacting and interviewing relevant parties in an effective and thorough manner. Such research will be used to support Industry Assessments, but also to develop investment theses for potential new investments. Timing - immediately or as required.
5. Organizational - Assist in building, updating and maintaining the firm's various databases and files (particularly related to the Strategy & Markets function). Timing - within 1 month.
6. Other general associate functions - Be able to take on assignments requiring the skill and proficiency levels that would be typical for an investment banking associate. Timing - within 1 month, devise a detailed training plan to be executed over a 3 month period to supplement any shortfalls in capability given the technical requirements of the position.
Required Characteristics and Skills
The Associate will likely have at least two years experience as a management consultant, investment banking analyst, or in a corporate development role. The primary characteristics and skills required are as follows:
Driven and Motivated – The Associate should have a high energy level, be persistent and have a high level of desire for the activities that comprise private equity investing. The Associate role involves more autonomy than most positions geared towards candidates at this early stage in their career. Highly motivated self-starters will do well in this position. The Associate will be given as much responsibility as the organization deems appropriate; being able to leverage available resources to solve problems is a key to establishing competency and gaining responsibility.
Disciplined, focused, and organized – The Associate has to be able to respond to multiple parties on multiple topics and should have a fundamental and high degree of work quality. The ability to manage project-like initiatives, follow-up rigorously, coordinate with various parties, and hold to a preset timetable is important.
Basic level of business knowledge and a fundamental understanding of accounting and finance – The Associate has to have a strong understanding of accounting and general finance concepts. He/she should have also had thorough experience building models in order to be able to project affiliate companies’ financial statements and weigh investment decisions. The Associate is not expected to enter this position having highly specific knowledge about any given company, market, or industry, but should be well along in the process of developing a basic understanding of how businesses work. As the Associate gains exposure to different situations across both companies and industries he/she should be able to assimilate lessons learned in order to develop his/her business acumen considerably over the course of the first year in this role.
Strong ability to communicate – The Associate must be able to communicate both verbally and in writing with a wide variety of audiences. A respectful and highly professional approach is of the utmost importance.
High level of intelligence and curiosity – The Associate will need to have a strong ability to formulate abstractions, identify patterns, and develop conceptual linkages. He/she needs to be able to develop mental frameworks quickly and then adjust them as information becomes available. The Associate should also have a strong desire to learn more and should be taking initiative consistently to do so.
After three to five years there will be the possibility to be promoted to Vice President, and there will also be the possibility of horizontal moves to other functional areas within the company including the possibility of being a functional leader or affiliate manager. This is not a two-year program, and all hires enter the firm on the Partner track.