“You can have it all just not at the same time”
As long as you have intellectual curiosity, honesty and discipline, a career in Private Equity is for you – says Zinab Bercheq, Assistant Director at Advent International, who’s eager to dispel myths surrounding the industry. Here she imparts her thoughts on empathy and equilibrium – and encourages women with self-doubt to power through.
Why did you choose a career in Private Equity?
I knew I wanted to be in an environment which was fast paced, meritocratic, and most importantly, full of brilliant people. My first exposure to the industry was through internships – something I’d recommend to students curious to understand what a good fit for them is. Immediately, Private Equity felt like a career that was meant for me; I started using every part of my brain, being exposed to so many situations. It’s highly intellectually stimulating.
What type of person does PE suit?
You don’t have to have studied finance to work in Private Equity. It requires intellectual curiosity, discipline, and honesty. You also must be someone who’s very rigorous. Fundamentally, this is an apprenticeship job – so you can learn along the way. I would encourage people from all types of backgrounds to this industry. I’m North African by background and English is my third language. Despite historic stereotypes, this is a career for everyone.
What’s the best bit of deal making?
Due diligence can be extremely invigorating because you’re in discovery mode; you’re solving problems. For me, when you get to the phase of seeing some of the things you’ve planned materialise, that’s probably the most rewarding. The best bits also always involve relationships you forge along the way. This is a people industry – more than some might realise. The high five moment once you’ve worked hard as a team and executed a common vision is a great feeling.
With the highs must come some lows..?
For me, the lows revolve around when my personal life/ work equilibrium is disturbed. I purposefully don’t say balance – because it tends to fluctuate. The key to any challenging moment is to hit pause and be honest with your colleagues; mine have always been extremely supportive whenever I opened up about a low I was experiencing. Being able to take time – that’s important given the hustle and bustle of a day job like this.
Would you encourage women to consider a job in Private Equity?
Definitely. It’s a rewarding job for any gender. Overall, this is a high stakes job in the sense that you are deploying capital, you’re putting capital at risk, which is a humbling responsibility. And that’s based on your analysis and your judgment as a team. So, I believe it is fundamental that the team that is investing in these businesses come from diverse backgrounds. That leads to more divergent, critical and creative ideas being put on the table.
I’m a huge advocate for women being particularly well positioned to thrive in PE. You need high EQ in this game. Analysis is no good if you can’t convince management to do the deal with you. As you partner on a deal, you will need collaboration skills and an ability to influence, above all. The best leaders are empaths, in my opinion, a characteristic I have seen in many female leaders in our industry.
Can women in PE ‘have it all’?
To quote a discussion between Oprah and Michelle Obama, “you can have it all – just not at the same time”. And I think that’s right. Sometimes you will motor through your career, unstoppable. But at other moments, you’ll need space in your personal life.
One important topic for many – but not all – women is motherhood, as this can be a full-time job in itself. I am inspired by female colleagues and senior women in the industry who have achieved outstanding things in PE, while also raising a family. One male colleague once also told me how parenthood had made him a better investor, which resonated with me.
I think the key thing is realising that you will need to prioritise different things at different times, and to be forgiving of yourself when things aren’t perfect. Having said that, it is not just up to women – PE firms have the responsibility to put the policies and the support systems in place, which allow all employees, regardless of gender, to achieve their personal goals while also thriving at work.
Have you had any influential mentors?
I have had the opportunity to work with several mentors in both a formal and informal capacity. In my team, I am privileged to have multiple senior colleagues taking real interest in my career development, providing me not only with advice, but also sponsorship; the latter being critical to anyone’s professional progress. I’ve also been mentored by every single female who’s more senior than me at work…we have a real sisterhood in the firm.
The Level 20 mentorship programme was also incredibly beneficial as it meant I had access to someone senior outside my organisation. I found it very helpful to have an outsider view on things to help me gain different perspectives. We also have a similar formal programme within Advent, whereby I am paired with a Managing Partner from our Frankfurt office. This means I spend an hour every month having access to one of the most senior members of my firm. I learn so much from this interaction.
It reminds me that it does take a village to raise someone, even within the context of work. Those mentorship relationships are invaluable, and I am grateful for them. I would encourage PE firms to, at a minimum, join the Level20 mentorship programme, and ideally, also implement something similar internally.
Would you do anything differently?
I wish I had been more confident when I started out. There were times where I had self-doubt. And I think this is something I share with a lot of fellow females. Whilst having some level of self-doubt may be harmless, I would always encourage young women starting their careers to face their fears and never let that come in the way of seizing opportunities and making their voices heard. The self-doubt may eventually go away but don’t create an ambition gap, early in your career.
