Private Equity Associate – Investment Research

Job Description

Private Equity Associate, Investment Research | Hoxton Circle

The Tone:
This is a full-time role at Hoxton Circle, located in Los Angeles. The firm is a Los Angeles-based middle-market private equity firm with a strong track record, focused on operationally intensive investments and corporate carve-outs. This newly created role is central to building a dedicated, thesis-driven research function, directly supporting a senior Managing Director. The position offers a unique opportunity to develop genuine investing judgment and contribute substantively to investment decisions from the outset.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: In-person, Los Angeles, CA

• Team: Reports directly to a senior Managing Director
• Mission: Identify and underwrite investment opportunities before they become live transactions, contributing substantively to investment decisions.

What You’ll Actually Do
• Research: Conduct deep industry and sub-sector research to identify attractive verticals, market dynamics, and consolidation opportunities.
• Mapping: Build and maintain industry maps tracking public and private companies, competitive dynamics, and potential investment targets, including carve-out candidates.
• Modeling: Develop preliminary financial models, comparable company analyses, and precedent transaction analyses to support early-stage underwriting.
• Documentation: Synthesize research into clear investment memos and thesis documents that drive internal discussion and investment committee dialogue.
• Outreach: Monitor public companies that may divest non-core divisions and develop proactive outreach theses for corporate development conversations.

The Must-Haves
• Background: Top undergraduate academic credentials.
• Experience: 1-3 years of experience in investment banking, equity research, management consulting, credit investing, or other research-oriented roles.
• Skills: Strong financial modeling and analytical skills; Intellectual curiosity for understanding businesses and industries; Excellent written and verbal communication skills; Self-directed work style with the ability to generate independent ideas and research agendas.
• Bonus: Long-term orientation and interest in building a career in private equity investing.