I applied for direct TC and emailed today to ask when we'll hear back - apparently by the end of the month
TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)
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This may sound like a stupid question. Is a public investment fund a PE company or a public M&A company. I was reading that Dentons advised Newcastle United to the Public Investment Fund of Saudi Arabia. I am thinking this is a M&A transaction and not a PE. Am I wrong here or am I correct that public funds are public companies.
Yes I had mine yesterday - the speed interviews weren't as bad as I feared actually. It is what it says on the tin really - 5 mins and 1 main question per assessor. Did you have any specific questions about them?
That is reassuring to hear thank you! Were the questions mostly strengths/competency based?
It's a sovereign wealth fund - so a state owned investment fund. This doesn't make it a public company, unless the public can buy/trade shares in it.
I'm not sure that a PE transaction and M&A transaction is really a clear distinction, surely a PE transaction is often a type of M&A transaction as the intention is to acquire? I'm by know means an expert or even knowledgable on this beyond the LPC modules so I'm sure others can give more insight!
Thank you very much for this.
I think I was not clear in my question sorry.
I meant would a law firm's PE or M&A team handle this work.
This is really helpful and your advice is really helpful as you know more than me about this.
No problem! Yes - both 🙂
One piece of (maybe quite obvious) advice is to keep an eye on the time - you essentially have around 4 minutes to answer the question so make sure you don't overrun too much. At least two of my assessors seemed to have follow up questions that they could ask if I finished before the end of my slot though, so don't stress too much about using the whole 5 mins!
It will probably vary from firm to firm and probably both, PE may fall under the general corporate banner or M&A! Take a look on a few firms websites and I bet people listed under PE practice will also have M&A listed. It's unlikely to be a clear cut distinction and again different firms will structure in different ways.
But also in any huge acquisition like this other departments will also be involved it wont just be the M&A team, a deal like this will take lawyers with all kinds of knowledge - tax, real estate, employment etc.
Glad to hear the speed interviews weren't as bad as you thought! I have my AC soon with them and I'm absolutely terrified 😂
It was actually one of the more enjoyable ACs I've done. The only thing was how short all of the time slots were, it all felt a little rushed
That's really good to hear, and I can see how the timing could be an issue. I'm sure despite feeling rushed you all did fab! If you don't mind me asking, how was the paired exercise? And did you get to talk to the office head?
Yes there was a Q&A session with the office head.
The paired exercise was okay, we were given some information to read with a scenario and some context that was emailed to you just before the day started, then you had time to discuss in your pairs and then present to the assessors. Nothing too technical, I think just to see how you work together and show a bit of commercial awareness really. Hope that helps!
Yes I am aware of that and I think it depends how big the firm's PE department is which is why some firms have 1 department for both and some law firms have 2 separate departments for both of them.
Yes that is true a lot of other departments assist in M&A departments such IP.
Thank you very much for this.
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