Private equity firms are seeing a huge surge in demand for data specialists, not just leveraging data for investment decisions, but also using it to unlock potential within portfolio companies and improve overall business analysis.
According to a report by recruitment agency PER People candidates will need a strong quantitative background, particularly in computer science or data engineering, with experience in coding languages and the ability to analyse and interpret complex data are also highly sought after.
The report maintains that this is still a relatively new role for many funds and while a number of large-cap funds do have built-out data practices already, there has been a shift in recent years that has meant that newer funds are looking to bring in a data scientist to lead analysis and system implementation across the business.
Perhaps unsurprisingly, the report emphasises that it is not all about numbers. Data professionals in private equity also need excellent communication skills to translate complex data insights into actionable information for different teams across the business. The ability to build strong working relationships is crucial for success in these roles.
PER People research consultant for finance and data Charlie Briggs said: “A data professional can revolutionise portfolio management and introduce new KPIs to measure performance whilst making use of technologies to develop reporting processes across the portfolio too.
“Data can also be hugely valuable during the due diligence phase of investments as well as during the exit process as they can offer insight into previously unused statistics and metrics.
“Data roles can be incredibly commercial with their data increasingly being used by various teams across the private markets such as operations, ESG and finance. Whether this is within a data manipulation capacity or simply support in transitioning a system across to a more efficient platform, the data professional can truly add value across all areas within the firm.”
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