Haven't been able to find much helpful advice on the topic above. I have an interview for a "sales" position within a well known prviate equity shop. I am assuming this is more of a raising capital, IR type of role.
My goal of all goals was to be at a PE shop, so this would accomplish that 100%, however, I am worried that this is going to be a dead-end type of role with no movement within the company becoming an option.
Can any of you PE monkeys divulge some information on what this role entails and if you've seen any movement from this role, either internally or externally, to a more front office position. Also any comp insight would be greatly appreciated.
Unsure of PE, much more familiar w/ HFs. But.... internal cap raising teams at hedge funds as well as independent cap intro guys ("consultants") make great money and have more flexible working hours than 95% of finance professionals. Often their titles have to do with "business development" and "marketing." Of course BB's also have prime brokerage/cap intro teams as well, many of which are staffed strictly with hot chicks that have decent resumes.
I believe w/ many PE shops the roles/process/comp is similar, but I'm sure someone that actually works in PE would have better insight.
I'm also unsure of your motivations, but if they're simply "make money," then raising capital is a freaking great way to do it if you can sell.
Seantsghost -- thanks for the response.
Don't get me wrong, Money is one of the most motivating factors here. I do, however, want to get involved within transactions as I feel that type of work is a lot more interesting. I know someone at a PE shop that went from being an accountant there to now being a partner in the firm, so I'm sure its doable. Just always like to hear back from everyone here on WSO.
In the hedge fund space, if you have good managers you work with and can take a cut of the performance fees you can actually make the same as they guys who run hedge funds.
It's not easy to get to that stage though, you have to have contacts to not only get investors but also to be able to sign on with those managers.
I never heard about "marketing" people in the HF space making as much as the guys running the fund. I would even say that I have never seen someone in a marketing / capital raising position making as much money as a great traderwho work in that very same fund. Maybe it can happen but it must be pretty rare.
if you ultimately want to get on the investment team and work on transactions, this will not help you. at all. people in marketing or IR do not make the transition.
I know someone who did that and then ended up running the fund! I say go for it!
Think about it.
If you're really good and work independently as a third party marketer and raise assets for 5 or 6 different managers and you get fees on the assets as long as they're in the fund and you're getting paid 20% of all fees then you're doing very well.
So say you have 3 or 4 good years and you raise $300 - $500m through high quality managers.
Management fees on that are $1.2m (assuming 1.5% management fee on $400m) Performance fees on that assuming that your five managers do OK and they average out to about 8% return then you're looking at another $1.2m
Plus you take could easily take home another $200k in yearly retainers to cover your costs.
I'm not talking about internal guys, yes they get paid less but the guys that work for a % of assets raised and get paid on the performance fees then they can do well.
All of this takes time though.
There was a guy in the UK who was an external marketer that got sued for sexual harrassment whose net worth is valued at 120m Pounds.
Thanks for the help everyone! So from what I can gather, a person in this position can a) sit at a company and potentially roll out their own fund eventually b) move to a 3rd party and raise $ for a ton of funds and take 2%/20% (potentially very lucrative) c) sit at an internal fund and raise $/maintain investors for that fund (seems like you'll make the least amnt of $ here).
Does anyone have any comp figures for these types of roles?
I appreciate all of the responses. Over the past week or so, I've aggressively reached out to both people that I know (any level of PE) and people that are in my alumni network that currently work in PE. The advice I received from MOST of them was to get my foot in the door any way possible. Coming from a non-target, with a very unorthodox career path (wealth management --> institutional sales --> P/E?) this would be the best way for me get into the industry. Once I'm inside, its up to me to see just how accessible the move to the investment team is..If it is, great I'll do whatever it takes to make the move. If not, I will have a great name on my resume and will have to go back to school and essentially start over (if I don't like marketing/sales that is).
Now, in terms of comp, do any of you monkeys have any insight here? Also, any insight in terms of what to expect from an interview?
I was sent, from what I can tell, some marketing materials on the company and funds itself to review and am wondering if I may be put on the spot for an impromptu sales presentation? This is one area where I do not have much experience as with Institutional Sales I just pitch the relevant stock calls per day.
Thanks again everyone, and any help will be greatly appreciated.
very strong thread. let's keep this info coming fellas!
Hey guys- bumping this thread because I'd like to find out more about what PE funds will do to win investors. Of course I know that potentially higher returns at the end of the period is what an investor is out for, but what is the 'rep' going to be? For example, corporations may tap a certain bank for their industry coverage and closeness with certain companies or deals, right? So for a PE fund, is it just past performance and strictly strategy going forward that is sold to investors to raise capital?
Marketing Associate at PE firm? (Originally Posted: 10/31/2013)
Was wondering if I worked as a part time marketing associate PE firm would that help me get into an actual position at the PE firm for deals? Anyone have any opinion on how I would approach this? Also would having worked as a marketing associate for a PE firm look good on my resume in terms of finding other PE jobs or possibly move "down" to investment banking? Or is it completely irrelevant? I'm just really trying to get my foot in the door as I'm not from a great school with limited background. Thanks.
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