Bianca Stoica

Director at Silver Lake 
B.S. from The Wharton School of the University of Pennsylvania
 

Background
Bianca Stoica joined Silver Lake in 2015 as an Analyst and is now a Director. She currently serves on the board of directors of First Advantage and has worked on investments across FinTech, healthcare IT, software, tech-enabled services, and education technology. Bianca graduated summa cum laude from The Wharton School of the University of Pennsylvania, where she received a B.S. in Economics with concentrations in Finance and Accounting, and a Minor in Mathematics.
 
Please describe a little bit of your background and how you found yourself in your current role
I grew up in Michigan and remember my dad always suggesting I learn about business and economics. He wasn’t in finance (he was an engineer), but would always have CNBC playing at home and talk about the stock market. I then decided to study business in college after taking economics in high school and having a terrific teacher who encouraged me to participate in economics competitions and apply to Penn / Wharton. Then it was really through joining an investing club in college, reading investing books, and interning in a public markets investing role at Goldman Sachs that I became passionate about investing. One of my mentors in college, who was a few years ahead of me and someone I greatly admired, joined Silver Lake as an Analyst and told me a lot about the firm, private equity, and why it could be a great place to start my career. I was fortunate to have had the opportunity to join the team as an Analyst and find a role where I could continue to learn, be challenged, and get to work with and support exceptional companies and management teams.
 
What attracted you to focus on tech investing?
While I didn’t pursue a degree in engineering or related field, I thought of all sectors I could focus on, technology was the most interesting in terms (i) of where the economy is heading and that many leading businesses rely on technology to some degree as a source of competitive advantage, (ii) being able to look at high-quality businesses investing for growth & innovation vs. focusing on financial engineering, and (iii) learning about a variety of different end-markets, business models, and products / solutions given Silver Lake defines tech fairly broadly to include tech-enabled businesses in areas like Fintech and HCIT.
 
Did you ever consider a different style of investing?
Yes I enjoyed my internships in public markets investing, especially focused on tech. Though what drew me to PE is that it’s a team-based environment, you are challenged to build new skills throughout your career as the role evolves, and the opportunity to understand how companies operate and think about strategy at a much deeper level through access to management teams.
 
What is your favorite part of your current role?
I really enjoy the due diligence process where you’re able to go very deep in learning about a business, be creative in finding & interpreting information, and piece together a variety of datapoints from management, customers, competitors, and financial / operating data to form a viewpoint on whether to invest.
And the least favorite?
There is always more I wish I could be working on with infinite time.
 
Which role has been the hardest to adjust to throughout your career from Analyst to Director and how has that prepared you for future adjustments as your career continues to progress?
I think the Principal (or VP equivalent at other firms) role is the most challenging. It requires transitioning from doing all of the core modeling and analysis yourself to guiding others. It’s the first time you’re managing people in a real way and are also responsible for their professional development, and you begin to have a deeper level of engagement with portfolio companies. The Principal / VP is the lynchpin of the deal team who ensures the process is moving forward and serves as the middleman between the junior team, senior team, and external advisers. One of the reasons I was interested in PE is that the evolution of the role over time pushes you to develop new skills, and you’re always encountering things you’re learning to do for the “first time”. In preparing for new roles, I’ve found it most helpful to practice doing the job of the person above you before you’re officially in the seat (and is something they will appreciate!), accepting you won’t do a perfect job out the gate, and seeking feedback from mentors.
 
What is a skill that you think others would be surprised to hear is an important aspect of your job?
Deciding how to best allocate your time, not only in terms of day-to-day multitasking but more broadly allocating time across researching new companies / new deal opportunities, building relationships, supporting portfolio companies, etc. There’s always an endless list of things to look at, and it’s important to determine what best contributes to your firm, team, and your own development.
 
What was the most valuable advice you’ve received in your career?
The two best pieces of advice I’ve received are (1) always come to a discussion or meeting with an informed point of view and speak up, and (2) know what strengths differentiate you vs. others and really leverage those. The people I’ve admired most are strong across the board but are exceptional in a handful of areas, whether it’s their analytical skills, their ability to cultivate relationships with management teams, etc.

Thank you for your time, Bianca! To learn more about Silver Lake, click here.