Liberal Arts Career Services
Liberal Arts Career Services

Finrock Growth Partners

Fall 2018

Position: Private Equity Analyst Intern
Student: Economics Senior

My internship is with Finrock Growth Partners, a boutique private equity firm located
just south of campus in the Dobie-Regus office building. I work 20 to 25 hours per week, but
only 15 to 20 hours per week are required. This internship is a unique opportunity for
undergraduate students to experience private equity and perform many of the duties normally
reserved for full-time analysts or even associates. There are essentially three functions we serve,
depending on where deals are in our “pipeline.” The first function is called deal sourcing. This is
arguably our most important function as deal sourcing is how we feed potential acquisition
targets into the top of the pipeline. Throughout this internship, I have identified over 1,000
companies to be added to our pipeline. We find these companies either through industry
research, theme based searches, bankers/brokers and opportunistic searches. The second function
is called due diligence. As deals progress and companies give an indication of interest (“IOI”),
we must begin the due diligence process. This involves coming up with clarifying questions and
conducting detailed industry research to identify potential drivers of growth, risk factors and
measure the competitive environment. The third function is financial modeling/deal structure. If
the company is interested and our thesis is confirmed in due diligence, the deal typically moves
to the letter of intent (“LOI”) stage. This is when we will build detailed financial models to come
up with a valuation, structure the deal and calculate an expected IRR for our investors. This
internship has given me some great experience which has infinitely helped in marketing myself
to full time employers in Investment Banking and Private Equity.

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    University of Texas at Austin
    FAC 18
    2304 Whitis Ave. Stop G6200
    Austin, Texas 78712-1508