Flagstone Heritage is an entrepreneurial private equity firm seeking part-time associates. It operates in a boutique PE model known as a search fund, and its sole purpose is to identify, purchase, and then manage one existing business. I am partnered with an experienced family office that provides committed capital and operational expertise. You will work directly with me in our Raleigh office to find and evaluate acquisition opportunities in a wide variety of industries. This is an unpaid role; however, I am certain that this experience will prepare you for a variety of other professional opportunities. For more information about the company, please visit: www.flagstoneheritage.com.

Job Description

Responsibilities and tasks will vary, but will focus on proprietary deal sourcing, managing a multi-stage, high-volume deal funnel. This opportunity provides a high level of autonomy and is primarily self-reliant. You will be responsible for:

  • Industry Research – Analyzing industries by reading market research reports, news articles, and industry guides
  • Company Database Building – Identifying target opportunities, and finding information on companies that fit our criteria, including CEO/owner contact information
  • Marketing – Sending pre-written letters to business owners to determine if they may be interested in selling their businesses
  • Company Analysis – For businesses that may be for sale, you’ll do research to understand their products, suppliers, competitors, and customers. What makes this company tick? Should Flagstone Heritage buy this business?
  • Financial Analysis - What can we learn from the company's financial statements? What price should we pay for this business?


This role will be rewarding but can be frustrating at times. For those who are willing, you will build a skillset that will set you apart from your peers. To that end, here are some traits that are important to me:

  • Self-driven, independent, and hard working with a willingness to complete some repetitive tasks
  • Detail-oriented with exceptional communication skills
  • An inquisitive mind and a drive to keep searching for information until you uncover what you’re looking for
  • People who want to make an impact and be part of something special. You will be helping me to purchase a company that will create jobs and serve a valuable role in its community.
  • An entrepreneurial, energetic, and optimistic attitude

Unlike most investment firms, I do not hire interns strictly on the basis of prior work experience or college credentials (i.e. GPA and school). That being said, an internship with Flagstone Heritage will give you real-world experience using the same techniques used by larger private equity firms to source, evaluate, and structure investment opportunities.

This role can be a great fit for the following candidate groups:

  1. Undergraduates with aspirations to break into the competitive fields of finance, private equity, investment banking, consulting, and sales
  2. Graduates with business/finance/accounting or another related degree who want to gain additional relevant experience

If needed during or at the conclusion of the position, a letter of recommendation will be provided - as well as course credit for undergraduate and graduate students.

A minimum of 12 hours/week is expected with flexible start dates. Ideally, you would work from the Raleigh office 1-2 days per week. My office is located at 5400 Etta Burke Court in Raleigh. The office has a significant amount of free parking, and it is conveniently located on several public bus lines.


If you are interested in applying for this internship, please submit your résumé as well as a short paragraph explaining your interest and qualifications for this role along with your learning goals for the position and long-term career goals.

I look forward to hearing from you and meeting you soon!

Robbie Sutkay