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  1. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    Yes, I would take this as an opportunity to build out what you've already said and add anything you might have omitted from the application but which you think might be an interesting conversation point.
  2. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    Not only SPACs, PE firms will occasionally float a company on IPO but they generally can't liquidate their position as quickly that way so prefer not to, as their performance metrics (and pay) are time-sensitive.
  3. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    PE is properly characterised by the equity itself being private - this is a fundamental difference between a PE firm and an equity-focused hedge fund or asset manager. That said, big legacy PE firms will now get involved in private credit, PIPEs, SPACs, real estate, all kinds of stuff - I'm...
  4. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    I did know most of that but not insulted in the least, always good to share information. And everything in the corporate holding structure of a given acquisition will be a special purpose vehicle (SPV) - funds I guess also but it seems like more precise language (or just 'fund') is usually used...
  5. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    Yes, on request Links will provide a separate report on your WG performance. They'll tell you your percentile (you did as well as or better than [X]% of the control group). Take this with a grain of salt, as the control can vary widely - an identical score on an identical test can yield...
  6. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    A PE house is a PE firm, funds are basically discrete pools of investment capital set up and managed by the firm. I'm more familiar with the corporate side of PE than the fund side, so the rest of what I'll write is probably not a perfect explanation but I don't think anything is outright wrong...
  7. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    I don't think there's really a fundamental difference except that a cover letter will usually be addressed in some way whereas a personal statement you just get straight to it (cover letters similarly should be signed off, personal statements need not be).
  8. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    Caveat I am not sure if unitary partnership is a term anyone actually uses I just like it, there may be a more correct term that would be better to use if discussing this on interview.
  9. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    Right so JD really runs this as a USP - I'm not sure how different they really are than some other firms on this point, but it's obviously very important to them. One thing here is structural - JD operates a unitary partnership, including profit share across borders. Cf. Baker McKenzie, which...
  10. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    What's the context? JD makes a great fanfare about 'one firm worldwide' and seamless work across offices, so it might be this. May also be to do with the integration of complementary practice areas, as I believe they also bill themselves as full service.
  11. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    At least in this thread, everything pre-Xmas was to do with their Open Day. And their deadline was immediately before Xmas holidays, so I really would more expect this to be the first flight of invites.
  12. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    I imagine this was the first set of offers - I haven't seen anyone on this forum confirm a response from Skadden prior to today, and I very much doubt that multiple batches of probably ~20+ TI invites have gone out in the past months without anyone active on this forum amongst the recipients...
  13. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    Wouldn't bank on that. I don't think it's unusual to roll out invites in blocks.
  14. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    GR has expressly said it's rolling - I think apps will have been earmarked for progression on a rolling basis but are only being advanced as of... now.
  15. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    I applied the 13th Dec and have heard nada, latest application from someone who has confirmed TI on here was the 11th. They're rolling but given it seems the first round of TI invites went out today and seems to span most of the application period I'm not sure how much that means. Fingers...
  16. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    The Legal Cheek comments section is an absolute cesspool. I'm wary of some of the territory you're approaching in the last paragraph there and would urge caution with that line of thinking, but I do relate to an extent. I'm in my late 20s, stellar pre-uni results, strong uni results, loads of...
  17. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    I'm genuinely curious as to how one would wholly avoid policy reasoning in a question like this. Any change of law must have a purpose, and the purpose will presumably be a matter of policy. I would imagine that the line of argument has to be 'the current position is suboptimal because [X]...
  18. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    Congrats to all getting through on Skadden. Has anyone had a PFO from them yet?
  19. Rob93

    TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

    They've got a press release here with most of the main information. https://www.herbertsmithfreehills.com/news/herbert-smith-freehills-announces-full-year-results-for-202021

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