Private Equity Hiring in the Pandemic

Private equity’s requirement for great C-suite leadership is proving to be pandemic-proof.

Though platform origination has slowed amidst the Covid-19 outbreak, PE firms continue to pursue elite talent. While Falcon has delivered several high-impact placements in recent months, filling a PE-backed C-suite position in the age of social distancing presents unique challenges.

Hiring Without Handshakes Now a Reality

Covid-19 has either paused or greatly reduced sponsor reliance on face-to-face interviews during the hiring process. Many recent C-suite offers have been extended and accepted with the parties never meeting in person.

This once unthinkable practice reflects the growing urgency for exceptional portfolio company leadership.

With decision-makers striving to ensure no detail is overlooked, the average number of interviews required to reach an offer has increased.

“The move to virtual has intensified the process,” says Falcon’s Lindsay Guzowski. “Every candidate who is coming through the process seems to be undergoing extra steps or engaging with additional interviewers.”

Certain sponsors have leveraged creative tactics to facilitate in-person interaction – one firm seeking a locally-sourced executive utilized carefully coordinated outdoor walks as de facto interviews.

While the viability of in-person meetings is slowly returning, PE professionals forced to redefine essential travel have been impressed with the efficacy of modern remote work technology.