PENNINGTON PARTNERS – POSITION SPECIFICATION
Summer Analyst Intern
About Pennington Partners & Co.
Pennington Partners is building the leading financial services holding company for the most successful entrepreneurs in the world.
Founded in 2016 on the principle that entrepreneurs and entrepreneurial families are underserved and undernourished by extant commercial providers, Pennington is designed to address critical service gaps that too often cause families to do-it-themselves creating sub-scale family offices where the economics cannot be rationalized for any reason other than control. The Pennington design rests on the economic principle that Pennington will only deliver core services (those services that no one can do better) and will outsource other critical adjacencies to best-in-class partner firms or affiliates.
Anchored by the two founding families, Pennington’s platform offers a dedicated, multi-disciplinary team focused on partnering with the most successful global families to maximize their greatest potential.
Our core service pillars are:
· household financial management
· operating partnership
· a leading merchant banking platform focused exclusively on private investments
To date, Pennington has developed three investment funds/platforms built for and led by our operating partner families:
SaaS Venture Capital – A seed stage enterprise technology venture firm that is focused on investing in second tier cities throughout North America, as a co-investor alongside leading venture capital firms.
Pennington Alternative Income Fund, IDF – A diversified evergreen alternative income platform in partnership with Lombard International (Blackstone Group portfolio company) to address the challenge that taxable investors face in generating attractive after-tax returns on income-oriented investments.
PTM Partners – A real estate private equity firm, that closed a Qualified Opportunity Zone Fund (Fund) in 2019 focused in select metropolitan markets in the United States. The Fund’s strategy is predicated around tax reform legislation in the Tax Cuts and Jobs Act of 2017 (Tax Act), which created a significant economic development tool alongside a meaningful tax deferral and abatement mechanism.
Our staff model is designed around an ensemble that supports a lead advisor, a dedicated Chief Investment Officer, Senior Advisor, and Chief of Staff, as required, and the belief that no one person can carry the dialogue with complex families.
Pennington Partners – Cultural Norms
Pennington is young, smart, tireless, and iconoclastic. While we take a measured approach to our clients, we can be impatient for results and challenge ourselves every day.
We are an ensemble of the best and brightest people. While not purely contrarians, we are entrepreneurial and intellectually curious. We like to challenge assumptions and welcome new ideas.
Our people are collegial but self-reliant. We value judgment as much as intellect and look for people who tend to do the right thing first, but who also know how to ask for help.
While the firm is building increasing scale and institutional character, we value informality.
Are you a quick-thinking self-starter with a passion for the financial markets/investing? Are you intellectually curious and entrepreneurial? Do you have the ability to think outside the box? We are seeking interns who have the passion and desire to thrive in a fast-paced environment where attention to detail, strong communication skills, and hard work are essential to enhancing our firm’s vision to build an extraordinary firm.
Candidates will have the opportunity to work as a full-time analyst at the firm for 2-3 months. Candidates will spend their time iteratively working on a select number of strategic projects. Sample projects include – credit/alternative asset investment theses, private equity/venture capital investment theses, building investment marketing documents, strategic market research initiatives, and specialized client service projects. Outside of their core projects, candidates will have the opportunity to sit in and gain exposure to each of the firm’s core initiatives.
Candidates will need a strong GPA and a passion for business development and investing. Successful candidates may have the opportunity to return to the firm full-time as part of our analyst rotational program.
· Intellectual curiosity and renewal – an insatiable thirst for knowledge; a need to understand.
· Competitiveness – willing to persevere to attain goals.
· Pluck – courage or resolution in the face of difficulty.
· Constancy – unwavering and unexcitable.
· Urgency – ability to deliver work under time constraints and the exigent demands of clients.
· Formality – respects but does not always follow convention(s); willing to experiment.
· Purposefulness – does not waste time.
· Conviction – ability to express an opinion when it may not be popular.
· Self-reliant – independent work style and high self-motivation.
· Collaborative – ability to build and maintain positive relationships with both Pennington colleagues and external stakeholders.
Competitive compensation. This is an opportunity to learn, become an important part of our culture, and have the opportunity to earn a full-time offer to join in the firm post graduation.