As part of our commitment to the next generation of M&A professionals, Palm Tree offers a robust summer internship to elite, qualifying undergraduate and MBA students in partnership with a select group of universities.
The program serves as a knowledge transfer of “best practices” and application of skills from our group’s collective, direct experience in Big-4 accounting, private equity, investment banking, operations, and management consulting. Our curriculum is designed to pull on the most impactful concepts from each of these specialties to provide students with a unique perspective and skillset to make them successful in a private equity atmosphere.
The first phase of the internship program consists of a proprietary, in-depth classroom training where students learn the basic skills used in private equity, including the structure of a M&A deal, financial statements analysis, revenue and cashflow forecasting, constructing 3-statement models, ascribing valuations, financial due diligence, and other forms of operations and financial analysis.
Following the classroom training, interns break into teams to compete in a simulated M&A setting as a “case study,” applying the skills and concepts learned in the classroom phase of the internship. Interns work together at each stage of the simulated M&A process, including completing financial due diligence, communicating with an investment banker and CFO, composing an investment thesis, and presenting the investment thesis to the Palm Tree Board of Directors acting as an investment committee. This case study gives interns hands-on experience of what it is like to participate in a M&A process using a simulated environment, bringing a unique perspective beyond anything an intern could otherwise learn in a classroom.
Upon completion of the case competition, interns will participate in live deal engagements alongside their assigned mentors.
Internship Program FAQs
Will the internship be remote or in-person?
It’s kind of both! The internship will be administered from our headquarters in Los Angeles but will largely be executed virtually using Microsoft Teams. We encourage all interns to join one of our four offices in person, but we also make a complete virtual option available. We feel this format replicates the industry landscape in its present form and allows students from all over the country to participate. Although the internship will be carried out virtually over Microsoft Teams, students must reside in a State where we have an office and are encouraged to leverage the offices for in-person work as needed for group projects and assignments. Palm Tree presently has offices in CA, IL, MI, and TX but will also allow students to reside in CO, WA, and RI for the duration of the internship.
Will you be providing a computer?
Yes, we plan to provide all interns with Palm Tree assets. We’d like to involve you as much as possible in live client deals, many of which are extraordinarily confidential and require controlled security.
Will there be travel involved?
There will be no mandatory travel, but there will be strongly encouraged events/experiences for interns to have an in-person social event during our case competition and client work, which occasionally demands travel on a case-by-case basis. Potential travel during the Live Deal Engagements based on the service line and needs.
How long will the internship last?
Approximately 8 weeks in total. The Bootcamp will run for 3 weeks, followed by another 2 weeks for our Case Competition. From there, interns will work on Live Deal Engagements for a minimum of 3 weeks. We recognize that universities follow different schedules and, therefore, understand varying commitments, campus events, or classes for returning to school.
How can I prepare for the internship?
Nearly everything we do involves MS Excel and financial statement analysis. It’s important to hone your Excel skills as much as possible. It’s also wise to review basic finance and accounting concepts and familiarize yourself with financial statements – what they are, how they tie together, and the story they tell. We’ll teach you the rest!
Which service line will I be assigned to?
The program is intended to cover the entire M&A life cycle. You will have exposure to every service line and will be assigned to a mentor (and client work) within your preferred service line. You will also interact with a different instructor during each day of the Bootcamp. Instructors range in tenure from Associate up to Managing Director.