I know firms like Raine, LionTree, Allen & Co, Union Square Advisors, Financial Technology Partners, etc don't have a lot of precedence for exit opps, but do they still get looks from recruiters for PE? In general, how are the exit opps coming from each of these shops?
Interested in starting off at one of the above firms for two years and moving to PE.
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Allen & Co. is a very solid shop, I would imagine you would have good options coming from there.
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Only familiar with Raine, LionTree, and Allen, and either one would give you incredible opportunities in the future from the connections you will make on the job. Plus, you get to work on legitimately interesting deals (IMO) at these places - especially Raine's merchant banking arm.
I think the short answer is you'll get looks by PE from any of these places. US Advisors and FT Partners are probably the least well known, but they have both placed people into solid PE funds. FT Partners has sent multiple analysts to FTV Capital, which has a $700MM fund. You'll get looks from a lot of LA and SF firms who invest in FinTech.
Allen, LionTree and Raine will set you up for PE, that's just not what most of the analysts do. For the most part, the boutiques make a push to keep people on as Associates and if they don't, a lot go to small hedge funds. Compared to the BBs, they don't have nearly as many sponsor clients, so it's not as important for them to place into PE and the relationships aren't there compared to MS and GS. I would think your skills coming from these places will qualify you to work at $1B+ funds and you'll definitely get attention from HHs.
most of these guys are more focused on promoting from within and senior guys won't help you in the buyside recruiting process, partially because, like NestoGrande said, most of their dealflow is more strategic-based so it's not as immediate of a benefit having an ex-analyst on the PE side.
HH's definitely don't give as much looks to these firms because you're a wildcard vs. more established analyst programs - same goes for the PE fund who is screening the pile of resumes that a HH sends over.
'No one got fired for buying IBM' holds true, particularly with banking/PE/HF recruiting. be prepared to make stuff happen yourself by networking; you won't be getting LAZ / EVR type looks.
It seems like a lot of the USA guys jump ship to Qatalyst after a year or so.
TMT Banking exit options: Hedge Funds and MM PE (Originally Posted: 09/10/2015)
I know this question has been asked few times but I am looking for a clearer answer to my question. What are the chances of getting into a decent hedge fund or MM PE after doing 2 years of TMT banking at BB post-MBA. Not sure how much will it matter if its a MBA from top 10 schools. Need to make a decision as I have to start recruiting for internship in less than a week. Thanks!
im interested in this too
You have 2 years of experience at a BB + a top 10 MBA... I'd say you have pretty good chances relative.
PE - extremely difficult. Most people do PE do it from pre MBA, and people have trouble getting post MBA positions with BB, megafund pre MBA and HBS/GSB (never mind MM PE pre MBA and Wharton, that's even tougher). Best bet is to go for smaller regional funds
HF- much more doable, and I've seen plenty of IB associates move to very good hedge funds, including the "megafund" names. Interviews tend to be less focused on pedigree and more about investment ideas, so if you are someone who has been following markets all your life it'll be a much more realistic move
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