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Aspiring Lawyers - Applications & General Advice
Applications Discussion
TCLA Vacation Scheme Applications Discussion Thread 2025-26
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<blockquote data-quote="Abbie Whitlock" data-source="post: 246328" data-attributes="member: 42112"><p>Hey!</p><p></p><p>I'm not too knowledgeable on these areas myself, so my advice would be quite general! However, when I was starting to learn more about specific areas my starting point is usually Investopedia. For example, I've had a look for posts on Funds and Private Credit and have found:</p><ul> <li data-xf-list-type="ul"><a href="https://www.investopedia.com/private-credit-vs-private-equity-7565530" target="_blank">Private Credit vs Private Equity: What's the Difference?</a></li> <li data-xf-list-type="ul"><a href="https://www.investopedia.com/terms/f/fund.asp" target="_blank">Fund: Definition, How It Works, Types and Ways to Invest</a></li> <li data-xf-list-type="ul"><a href="https://www.investopedia.com/what-investors-should-know-about-investing-in-private-debt-11792779" target="_blank">What Investors Should Know About Investing in Private Debt</a></li> </ul><p>If videos are what work best for you, I would definitely have a look at YouTube and search things such as "How private equity works", "What is private credit", "How a fund is structured", etc. When I was preparing for an interview at a PE-focused firm last cycle, I found this video from TCLA really helpful as an introduction: <a href="https://www.youtube.com/watch?v=VVMYNkv4IhA" target="_blank">"What Private Equity Lawyers Actually Do? - with Bernie Rivard"</a></p><p></p><p>In a case study, they are usually testing:</p><ul> <li data-xf-list-type="ul">Can you spot key risks?</li> <li data-xf-list-type="ul">Do you understand the client's overall commercial objective?</li> <li data-xf-list-type="ul">Can you think commercially and offer practical solutions?</li> </ul><p>For example, in an M&A case study, you need to think about what the buyer is actually trying to achieve and what are the main risks to highlight in due diligence. For PE, this might be how the fund will exit and what could impact returns from the investment. Lastly, for private credit, you would want to consider what the lender would be worried about (e.g. repayment, security, etc.).</p><p></p><p>A simple structure that might help you as you approach these exercises is:</p><ol> <li data-xf-list-type="ol">What is the client's goal?</li> <li data-xf-list-type="ol">What are the main commercial risks?</li> <li data-xf-list-type="ol">What would you prioritise as their lawyer?</li> </ol><p>Try to focus on keeping it logical and commercial - they won't be expecting you to address the technical complexities of an LBO model, but rather to show that you understand the client's objective, can identify the key commercial risks, and can think practically about how a lawyer would help protect the client's position.</p><p></p><p>I hope that helps! <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /></p></blockquote><p></p>
[QUOTE="Abbie Whitlock, post: 246328, member: 42112"] Hey! I'm not too knowledgeable on these areas myself, so my advice would be quite general! However, when I was starting to learn more about specific areas my starting point is usually Investopedia. For example, I've had a look for posts on Funds and Private Credit and have found: [LIST] [*][URL='https://www.investopedia.com/private-credit-vs-private-equity-7565530']Private Credit vs Private Equity: What's the Difference?[/URL] [*][URL='https://www.investopedia.com/terms/f/fund.asp']Fund: Definition, How It Works, Types and Ways to Invest[/URL] [*][URL='https://www.investopedia.com/what-investors-should-know-about-investing-in-private-debt-11792779']What Investors Should Know About Investing in Private Debt[/URL] [/LIST] If videos are what work best for you, I would definitely have a look at YouTube and search things such as "How private equity works", "What is private credit", "How a fund is structured", etc. When I was preparing for an interview at a PE-focused firm last cycle, I found this video from TCLA really helpful as an introduction: [URL='https://www.youtube.com/watch?v=VVMYNkv4IhA']"What Private Equity Lawyers Actually Do? - with Bernie Rivard"[/URL] In a case study, they are usually testing: [LIST] [*]Can you spot key risks? [*]Do you understand the client's overall commercial objective? [*]Can you think commercially and offer practical solutions? [/LIST] For example, in an M&A case study, you need to think about what the buyer is actually trying to achieve and what are the main risks to highlight in due diligence. For PE, this might be how the fund will exit and what could impact returns from the investment. Lastly, for private credit, you would want to consider what the lender would be worried about (e.g. repayment, security, etc.). A simple structure that might help you as you approach these exercises is: [LIST=1] [*]What is the client's goal? [*]What are the main commercial risks? [*]What would you prioritise as their lawyer? [/LIST] Try to focus on keeping it logical and commercial - they won't be expecting you to address the technical complexities of an LBO model, but rather to show that you understand the client's objective, can identify the key commercial risks, and can think practically about how a lawyer would help protect the client's position. I hope that helps! :) [/QUOTE]
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TCLA Vacation Scheme Applications Discussion Thread 2025-26
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