PW Funds

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PW Funds

Post by Anonymous User » Tue Aug 11, 2020 3:52 pm

Does anyone have any insight into the fund formation group at Paul Weiss? Intensity, culture, people, etc.? Interested in the group but have had a hard time finding info. Thanks!

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Re: PW Funds

Post by Anonymous User » Wed Aug 12, 2020 7:20 am

PW Anon, not in funds.

To my understanding, funds is really "two" groups - the Apollo people and everybody else. Apollo is a highly demanding client (in every way you could imagine) but they reliably want to do interesting work, and a junior friend of mine has a good amount of responsibility there because he apparently did some really good work for them. Non-apollo is more chill, primarily doing some funds work for clients brought in by other practices (corp, rx, etc), but certainly less "interesting."

Partners are, to my knowledge, solid -- no screamers, demanding but reasonably respectful -- and while I don't know everyone in the funds group, the few people I know there I like a lot. They think highly of it and say they joined the group for the people.

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Re: PW Funds

Post by Anonymous User » Fri Aug 21, 2020 1:05 pm

I’m a current 3rd year (rising 4th?) in the PW fund group that does primarily Apollo work, but also work for other clients. I wouldn’t say there are two groups because people who do Apollo do other client work and vice versa - it’s not a situation where there is a favored in group or two tracks. I would say the Apollo work is distinct in that, because the client is massive, it has policies and procedures that don’t apply to other clients, a separate set of precedents, etc. I’d say the defining feature of the group is it’s small size relative to the amount of work and caliber of clients. Juniors who can handle it get a lot of responsibility out of necessity since we are understaffed. This has obvious positives and negatives. Happy to answer any questions.

synergy

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Re: PW Funds

Post by synergy » Fri Aug 21, 2020 1:19 pm

Anonymous User wrote:
Fri Aug 21, 2020 1:05 pm
I’m a current 3rd year (rising 4th?) in the PW fund group that does primarily Apollo work, but also work for other clients. I wouldn’t say there are two groups because people who do Apollo do other client work and vice versa - it’s not a situation where there is a favored in group or two tracks. I would say the Apollo work is distinct in that, because the client is massive, it has policies and procedures that don’t apply to other clients, a separate set of precedents, etc. I’d say the defining feature of the group is it’s small size relative to the amount of work and caliber of clients. Juniors who can handle it get a lot of responsibility out of necessity since we are understaffed. This has obvious positives and negatives. Happy to answer any questions.
Hi there, I had a few questions if you wouldn't mind:

Since you noted you are understaffed at PW, are most funds associates super busy? Are you guys actively hiring and if so, what levels?

Is there an inflection point in PW funds where one is semi-officially a "mid-level" or a "senior"? What kind of duties does a mid-level take on as opposed to a senior?

What are partnership prospects like at PW for funds?

Thanks in advance!

Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: PW Funds

Post by Anonymous User » Fri Aug 21, 2020 2:37 pm

Anonymous User wrote:
Fri Aug 21, 2020 1:05 pm
I’m a current 3rd year (rising 4th?) in the PW fund group that does primarily Apollo work, but also work for other clients. I wouldn’t say there are two groups because people who do Apollo do other client work and vice versa - it’s not a situation where there is a favored in group or two tracks. I would say the Apollo work is distinct in that, because the client is massive, it has policies and procedures that don’t apply to other clients, a separate set of precedents, etc. I’d say the defining feature of the group is it’s small size relative to the amount of work and caliber of clients. Juniors who can handle it get a lot of responsibility out of necessity since we are understaffed. This has obvious positives and negatives. Happy to answer any questions.
I have a more general question - what do the exit options look like from the funds group versus the other corporate groups (M&A, finance, etc.)?

accidental anon - lomp123

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Anonymous User
Posts: 351261
Joined: Tue Aug 11, 2009 9:32 am

Re: PW Funds

Post by Anonymous User » Fri Aug 21, 2020 10:11 pm

synergy wrote:
Fri Aug 21, 2020 1:19 pm
Anonymous User wrote:
Fri Aug 21, 2020 1:05 pm
I’m a current 3rd year (rising 4th?) in the PW fund group that does primarily Apollo work, but also work for other clients. I wouldn’t say there are two groups because people who do Apollo do other client work and vice versa - it’s not a situation where there is a favored in group or two tracks. I would say the Apollo work is distinct in that, because the client is massive, it has policies and procedures that don’t apply to other clients, a separate set of precedents, etc. I’d say the defining feature of the group is it’s small size relative to the amount of work and caliber of clients. Juniors who can handle it get a lot of responsibility out of necessity since we are understaffed. This has obvious positives and negatives. Happy to answer any questions.
Hi there, I had a few questions if you wouldn't mind:

Since you noted you are understaffed at PW, are most funds associates super busy? Are you guys actively hiring and if so, what levels?

Is there an inflection point in PW funds where one is semi-officially a "mid-level" or a "senior"? What kind of duties does a mid-level take on as opposed to a senior?

What are partnership prospects like at PW for funds?

Thanks in advance!
Taking these in order:

- Funds is extremely busy and every other funds associate is slammed as well. COVID only increased the work load since we have one of the strongest credit fund practices and dislocation/distressed is hot right now.

- To my knowledge we are actively hiring 3rd years and up. Attrition is high so the group hasn’t been able to grow much despite actively hiring.

- Mid-level status starts 3rd year but even avid 2nd years perform mid level functions since the group is so lean. Mid-levels coordinate first and second year associates, take the first crack at more complex assignments and review junior work. Senior associate is 6th year and up and they generally perform partner or near partner functions aside from bringing in work - complex documents, coordinating fund-raises, negotiating directly with investors, etc.

Anonymous User
Posts: 351261
Joined: Tue Aug 11, 2009 9:32 am

Re: PW Funds

Post by Anonymous User » Fri Aug 21, 2020 10:18 pm

Anonymous User wrote:
Fri Aug 21, 2020 2:37 pm
Anonymous User wrote:
Fri Aug 21, 2020 1:05 pm
I’m a current 3rd year (rising 4th?) in the PW fund group that does primarily Apollo work, but also work for other clients. I wouldn’t say there are two groups because people who do Apollo do other client work and vice versa - it’s not a situation where there is a favored in group or two tracks. I would say the Apollo work is distinct in that, because the client is massive, it has policies and procedures that don’t apply to other clients, a separate set of precedents, etc. I’d say the defining feature of the group is it’s small size relative to the amount of work and caliber of clients. Juniors who can handle it get a lot of responsibility out of necessity since we are understaffed. This has obvious positives and negatives. Happy to answer any questions.
I have a more general question - what do the exit options look like from the funds group versus the other corporate groups (M&A, finance, etc.)?

accidental anon - lomp123
I can’t speak to exit options much but the offers I’ve seen are with PE/Hedge Funds, however I would say that the general corporate nature of funds work is understated. The legal work is highly versatile and varied as you often act as an outside GC for smaller clients on all their legal matters.

Anonymous User
Posts: 351261
Joined: Tue Aug 11, 2009 9:32 am

Re: PW Funds

Post by Anonymous User » Fri Aug 21, 2020 11:06 pm

Anonymous User wrote:
Fri Aug 21, 2020 10:11 pm
synergy wrote:
Fri Aug 21, 2020 1:19 pm
Anonymous User wrote:
Fri Aug 21, 2020 1:05 pm
I’m a current 3rd year (rising 4th?) in the PW fund group that does primarily Apollo work, but also work for other clients. I wouldn’t say there are two groups because people who do Apollo do other client work and vice versa - it’s not a situation where there is a favored in group or two tracks. I would say the Apollo work is distinct in that, because the client is massive, it has policies and procedures that don’t apply to other clients, a separate set of precedents, etc. I’d say the defining feature of the group is it’s small size relative to the amount of work and caliber of clients. Juniors who can handle it get a lot of responsibility out of necessity since we are understaffed. This has obvious positives and negatives. Happy to answer any questions.
Hi there, I had a few questions if you wouldn't mind:

Since you noted you are understaffed at PW, are most funds associates super busy? Are you guys actively hiring and if so, what levels?

Is there an inflection point in PW funds where one is semi-officially a "mid-level" or a "senior"? What kind of duties does a mid-level take on as opposed to a senior?

What are partnership prospects like at PW for funds?

Thanks in advance!
Taking these in order:

- Funds is extremely busy and every other funds associate is slammed as well. COVID only increased the work load since we have one of the strongest credit fund practices and dislocation/distressed is hot right now.

- To my knowledge we are actively hiring 3rd years and up. Attrition is high so the group hasn’t been able to grow much despite actively hiring.

- Mid-level status starts 3rd year but even avid 2nd years perform mid level functions since the group is so lean. Mid-levels coordinate first and second year associates, take the first crack at more complex assignments and review junior work. Senior associate is 6th year and up and they generally perform partner or near partner functions aside from bringing in work - complex documents, coordinating fund-raises, negotiating directly with investors, etc.
I've talked to a couple PW funds associates billing 300+ monthly lately. Recruiters have been pitching signing bonuses and guaranteed year-end bonuses, so I'm guessing they pick up some laterals soon.

Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: PW Funds

Post by Anonymous User » Mon Aug 24, 2020 12:52 am

Have heard anecdotally that a certain PW senior funds partner is an absolute nightmare to the point that friends of mine would never consider working there. As someone who has gotten more than one recruiter email for a PW position I’m curious as to experienced in the group.

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