Goldman European Speical Situations Group (ESSG)

they invest in companies with the firms own money.
they hardly hire any graduates. usually hire those with MBAs or people from management consultancy.

what do they do a day-to-day basis?

i dont know. when i interned in securities, they came and gave us a presentation and told us that they are not hiring. lol. well i suppose they do what a typical private equity does on a day to day basis.

ESSG doesn't do PE, PIA does. ESSG is a FICC prop group with various sub-divisions. Strategies range from capital structure arbitrage to structured credit investments. Modelling intensive group and a great feeder to HFs. Not sure if they have a Multi-Strat team in London as well but I know they do in NY.
Very elite group and the FICC equivalent of GS's Equity prop group (GSPS).

They do do PE-type investments (i.e. buying out assets outright with <$2bn deal value).

Oh so like MM PE? I know they invest in company debt but thought it was limited to that. Unless by assets you meant the real estate stuff they also do.

i hear some say its an elite group, but as city monkey points out, not in the best situation right now..
that would be something to ask them, what would happen after the internship, if I manage to secure one.

any advise on the interview preparation?

Bottom line: ESSG has had a really few **** yrs since 2007. PnL took a huge hit, not sure if they are hiring going forward, their only 2 analysts walked out on them in 2009 because risk was wound down massively and the job was just about managing investments that are heavily underwater. Rest of the franchise has not maintained such a hallowed view of them as they did pre-crisis, either.

I am amazed at the way GS is trying to offer you places in the most random and unheard of places with limited future prospects. What's next? Operations/IT in Moscow?

What are the conversion propects if they only take MBAs?

Thank God, I turned my GS offer down. I didn't want to subject myself to these arrogant GS Human capital career engineering practices and to the infamous GS HR hourly monitoring of your performance as an intern.

Anyone interviewed for a position in ESSG London? I have an interview coming up and I've heard they're really technical and only hire the elite candidates. Some insight would be useful. Thank you!

Are you currently an undergrad?