1. Can you share an example of a project or deal you worked on during your internship?
„Absolutely! One standout project during my internship involved an intricate financial model for market and financial analysis. This task, central to PE, not only challenged me creatively but also strengthened my problem-solving skills. What surprised me was the diversity of tasks within the PE realm, as I supported various portfolio companies throughout the internship.“
2. What skills did you develop or strengthen during the internship?
„Throughout my rewarding PE internship, I aimed to refine my analytical abilities through complex financial models and market trends. Strengthening problem-solving skills was a priority, and I achieved this by embracing real-time challenges. Collaborating with diverse teams honed communication and teamwork. I seized all learning opportunities and leveraged mentorship for growth.“
3. We believe teamwork defines the BaltCap team; is it true?
„At BaltCap, teamwork thrives! Working on financial model creation showcased this. Collaborating with analysts, we crafted models seamlessly, blending diverse expertise. A valuation project combined inputs from finance, strategy, and market analysis, shaping a robust model. Problem-solving sessions enriched by varied perspectives also stood out. BaltCap’s collaborative ethos fuels financial strategies.“
Matīss Jānis Rekerts
1. How do you think working in private equity differs from other areas of finance, and what aspects of the industry intrigue you the most?
„Private equity is one of the most diverse industries in finance both in terms of task variety and required skillset: one day, I needed to create a financial model and valuation of a Latvian IT company, and the next, I was researching the FMCG market in Europe. As a person with many interests and goals, I find this exciting as I can learn a lot about different markets, industries, business models and financial analysis methods in BaltCap. All this knowledge is highly transferable between different projects and industries.“
2. Can you share an example of a project or deal you have worked on during your internship?
„Another exciting aspect of private equity is that you can assist in the daily operations of portfolio companies: I was able to help a BaltCap portfolio company find new sales successfully leads through LinkedIn to validate a new product and to expand into new markets.“
3. How does a typical day in a private equity firm look like? What specific tasks have you been excited to take on as an intern?
„My internship generally consisted of 3 tasks: market research, financial modelling, and report creation. In a prospective deal, I would first perform a thorough market analysis to quantify the market size and potential growth channels for the market as a whole and the company. Then I would create a financial model to value the company. Afterwards, I would create a report or presentation for leadership to show my findings and to determine if we want to follow through with the transaction. All of this is done in close collaboration with my wonderful supervisors Juris, Sandra and Peteris, who gave invaluable guidance and support in every project.“
1. What does working in private equity feel like? What aspects of the industry intrigue you the most?
„Having previously done an internship in VC, I truly realised that the main difference between VC and PE funds is the metrics by which the companies are being evaluated. I am mostly intrigued by getting a chance to work with several different companies that operate in distinct sectors; this allows me to gain a broader understanding not only of finance but also of how other industries operate.“
2. How does a typical day in a private equity firm look like? What tasks have you been excited to take on as an intern?
„A typical day in a private equity firm as an intern usually consists of a range of activities—taking part in team meets, catching up with colleagues on progress, and individually or with colleagues working on a task. My most interesting and exciting tasks were related to performing #marketresearch, as I could understand what a specific portfolio company does and get a whole overview of the industry.“
3. Teamwork is crucial in BaltCap; how does it work?
„From personal experience—my colleagues truly value working together to achieve the best results. Whenever I have a task to perform, we have multiple catching-up sessions, and I can always count on them to help me with any difficulty. The most recent example regarding collaboration was when my colleague and I were working on a slide set. This was real teamwork; when I lacked the information or needed to proofread some facts, my colleague jumped in immediately, and we delivered the task.“
1. What skills did you hope to strengthen during your internship? Did you achieve those goals?
„I hoped to expand my financial knowledge and skillset by being part of real-life deals, creating financial models, etc., and I had a chance to do all of that. However, during my internship, I learned that in private equity, you need to constantly learn and improve your skills in many different areas, from data fishing to technical details of industries, not just strictly in finance. It is also a field where soft interpersonal skills are crucial.“
2. How does private equity differ from other areas of finance, and what aspects of the industry intrigue you the most?
„One thing that makes private equity different from any other field I have worked in is the fact that you have to be willing to constantly expand your knowledge every day, including topics that you might not expect, like technical details of various investments. To me, this makes it really stand out as an industry because it lets you expand your skills and knowledge in finance as well as outside of it.“
3. We at BaltCap believe we are team players; is it true?
„I was lucky to work with a really great team. From the start, everyone has been incredibly helpful. They made it easy to become part of the team and understand how the company functions. The entire team was really passionate about their work, and I learned a lot from them. Working with them has been a brilliant experience overall. They all did their best to guide me and introduce me to the industry.“
1. Which tasks did you enjoy the most during the internship?
„While I have greatly enjoyed all aspects of the internship, two specific types of tasks have really stood out to me:
Firstly, I have greatly enjoyed building financial models. Deals in PE often involve financing structures and other significant aspects unique to each individual investment, and consequently, building the models involves small and interesting challenges which require both creative and analytical thinking to solve.
Secondly, I have found writing the initial research reports for potential investments to be an especially eye-opening experience since writing the reports requires one to quickly develop a significant understanding of a new business and industry while obtaining a thorough understanding of a company’s competitive position, value creation, and strategic issues, among other things.“
2. Can you share an example of a memorable project you worked on?
„Perhaps my most memorable task was visiting a portfolio company by myself in order to locate and fix a bug in their ERP system. Admittedly, I could not solve the problem that day. Still, the experience illustrated just how deeply PE firms can be involved in managing and helping their portfolio companies and the importance of a “can-do” attitude when working in PE.“
3. What skills did you hope to develop? Did you achieve those goals?
„My primary goal for the internship was to acquire a first-hand understanding of how a PE fund manager operates, the unique challenges it faces, and the day-to-day life in a PE firm. After working on various tasks for both the investment team and the back office and having numerous insightful conversations with the partners and team members, I am happy to end my internship, gaining a new appreciation for the field.“
4. What aspects of the PE industry intrigue you the most?
„Although financial and analytical skills are still at the core of the field, working in PE requires an entrepreneurial mindset, commercial acumen, and creative strategic thinking. Meeting people at BaltCap who have developed strong capabilities in these fields was an inspiring experience.
I am thankful to Kristjan-Mart Piirsalu for the guidance and to the entire BaltCap team for the experience. Last but not least, I am especially glad to have experienced not only the “work hard”, but also the “play hard” side of the business along with the team.“