Summer Internship

Question

mods - i posted this in the careers forum, but the traffic is much heavier here so i'm just reposting here.

anyways, so i'm in the process of finding an internship right now before i begin my mba. just wondering if anyone had any info on CICC (china international capital corporation), and specifically, their sales & trading desks. i might be able to land something here vs. another opportunity at a hedge fund, so i'm just trying to weigh my options right now.

what kind of skills can i learn there? what type of reputation do they have (i know they're a powerhouse in IB and M&A, but not sure about S&T)? what are the exit ops?

anyone with any info on these guys please respond or pm me. i've been researching all over about them and there's really limited info. thanks.

yuskay · Answer

Hi, DrSatisfaction. 
I just bumped into an article about CICC, so I am posting it FYI.

TPG Capital and Kohlberg Kravis Roberts & Co will soon sign an agreement to acquire a 34.4% stake in China International Capital Corp (CICC) from Morgan Stanley, Ming Pao reported. According to the paper, which in turn cited a report from the Wall Street Journal, KKR and TPG Capital will equally split up the 34.4% stake in CICC, and the deal will be valued at more than USD 1bn.

A report in the Wall Street Journal Asia, which cited people with knowledge of the situation, noted that the agreement has not yet been officially signed and still pending approval from Beijing. This means terms of the deal could alter, the item added.

DrSatisfaction · Answer

hey there, thanks for the post. yeah i know they're doing the whole sale of morgan stanley's stakes and all in the company...just wanted more detailed info on the company though. i've pretty much exhausted all the research i could for CICC online but there's just not that much info out there.

i know it's a bit of a long shot but i had to try to see if anyone here knew anything about them. :roll:

Ginetta · Answer

Hi Dr.

As I mentioned when we discussed this before, if you want to go buyside, it would be better to go buyside immediately. Once you are "in" you are "in". It is very hard to get buyside hedge fund experience so if you have the opportunity I would take it.

In your other post you expressed some concerns about your job responsibilities at the fund. There are ways around that - try to set up an arrangement with your bosses there that you will do the grunt work during the day and then do investment analysis on your own time at night and get their feedback. Not for them to put the ideas in the fund but as a learning process for you. Would there be an opportunity for you to sit in on meetings as a silent participant? Even if you just meet with people on the fund for an hour a day, you will get a lot of value from that.

If my goal was to be a PM I would take an internship where I sat in on buyside meetings and listened to PMs and didnt participate over a sellside opportunity where I actually did sellside stuff. Buyside and sellside thinking is totally different, and the buyside experience will be more valuable long term. As for the not getting an offer looking bad, who cares? There are a million ways to spin it - ie the fund needed someone immediately and you were going to bschool. If you do well at the fund for those few months though, even if they dont have a position for you they are much more likely to know other people on the buyside who might vs if you worked at CICC where EVERYONE wants to switch over and is looking for buyside opps.

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