Today marks the official end of my second week at Ellery. When I first heard of Ellery, I pictured a very intimidating firm. I saw a place where you were expected to have the full acumen of the industry, the kind of knowledge that takes many years of practice. I quickly found out that yes, Ellery encompasses the many things Private Equity (PE) firms (although a search fund) are today, but they provide a safe space to learn and grow within the field. Interns can not only work on important projects, but learn directly from two talented individuals, Orlando and Jalen, with years of experiences in the industry. Through the many, many ice breakers (yes, that many), I have felt that I have gotten closer to not only them, but the other interns as well. I feel comfortable sharing my ideas and asking questions, which can feel like a scary task in many other companies. Most importantly, Ellery provides a place where the work I am doing really matters, something many other places do not offer until a couple years on the job.
Regarding the projects I’m currently working on, I am happy to say I am doing something I am passionate about. Currently, I am working on proprietary outreach, which consists of connecting with industry experts within a specific niche field. This week’s industry was a combination of the IT infrastructure consulting field, and the residential homebuilding field. In only two weeks time, I have gained real world experience in applying the ways to evaluate what makes a solid company and niche industry. Through a five-step approach, I can see what kind of companies Ellery is looking for, and if it’s worth taking the time to do due diligence to get a better understanding of the field.
Outside of work, Ellery has gone above and beyond to really help their interns succeed, like hosting weekend sessions to discuss the investment banking industry or any other topics we may find interesting. This week we honed in on three main ways PE firms create value: Increasing EBITDA, Debt Paydown/FCF, and multiples expansion. These three ideas lay out the basics for an LBO model, which we will be learning in the upcoming weeks.
Just like that, two weeks flew by. I have met new friends, I have gained new perspectives, and I cannot wait for the new opportunities to learn and grow here at Ellery.
P.S Jalen has the best ice breaker questions of anyone I have ever met, hands down.