OCIO exit opportunties
Hi all,
Currently an AN1 at an OCIO. While I enjoy the work, I think I would like to move to either a larger endowment (2bn+) than what I currently work at or more of a FoF role. Is it possible to make these moves after 1 year and what would I need to do to attain this.
Could you maybe elaborate a bit on the difference between a FoF and a pension//endowment type of fund? To my understanding, they are essentially all investing in funds and being an LP.
By FoF, I mean a fund of funds that takes money from various LPs - endowments, foundations etc. and invests them. Usually end up being slightly smaller endowments/foundations.
For endowments, I was referencing larger endowments that have their own offices e.g large university endowments, billionaire foundations etc, other large educational/non profit endowments. Slightly different from the FoF and OCIO that I am currently in that work would not include pitching at all as the endowment is investing its own money.
What do you see as being different between OCIO and FoF?
bump
Sure you can make the move. It's a similar job. Do you have any specific questions?
I am trying to get started on the networking/applying aspect but can find very few of these openings. Even the ones I do find are for massive and probably very difficult to land orgs like Harvard etc. or require two years experience while I only started in July so have about eight months under my belt.
What approach/what source should I use to find these openings?
Not all positions are advertised. That said, most people have a pretty good sense of where openings are. Just start networking with professionals and they should either be able to pass on your resume to their friends at other institutions or can point you in the right direction. I also wouldn't knock out going to a place like Harvard from an OCIO - this isn't IB to MF. There's a lot less prestige whoring in the industry (although it does matter somewhat) since it's much smaller in general.
Do you think I should be good applying to places that have a minimum of one year of experience given I assume the overall process is probably close to a month to two months?
Is there a reason you're trying to get out ASAP? I'd suggest hanging in there for another ~12 months and applying for associate roles. Otherwise you'd probably come in as an analyst. Some firms don't hire for straight out of undergrad roles and some might only hire kids from their own college (Yale endowment hiring Yale undergrads). If you start to compete for associate roles, there will be more openings and you'll get credit for your time at the OCIO.
Two things, I feel like I would rather be doing the same work w/o the pitching involved with RFPs etc. for new clients and secondly feel like I am not getting enough client exposure. I only rarely get to sit in on client meetings and listen. I don't even want a role, just want to listen in on them. I do not think I have done anything egregious nor have I gotten any other communication regarding something wrong I did even when I asked for feedback (did not frame it as why I am not getting into meetings just a general ask). Other analysts at the firm do get those opportunities.
That's all understandable but I'd still suggest digging in for another year before applying to endowment roles since nothing is glaringly wrong. I'd focus on the investment aspect as that's the transferable component (not the client management aspect).
If you want to be client-facing then I'd highly suggest FoF versus an endowment as there's obviously no client except the university. In that case, I think you'd be fine laterally over at the analyst level.
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