Urgent: Private Credit (BlackRock) vs Private Equity (Partners Group)
Any insight into what might be a better opportunity?
I like the location and firm better for Private Credit (BlackRock) but I am not sure if I will enjoy PC only because I have never tried PC. I have experience in PE so I know for sure it is something I will enjoy.
Is it possible to move from PC to PE? I am very conflicted so any advice or insight would be much appreciated!
If optionality is your primary consideration - PE over PC. I haven't seen many people move from PC to PE (regardless of market segment, LMM, MM, UMM, MF, etc.) The skill set, experience, and the lens are just drastically different. It would be helpful to mention your title, but the higher the title, the more pronounced the differences are.
Sounds like you are looking at Blackrock NY or LA vs. Partners Group Denver. I'd say PG Denver, if it is in a directs private equity and not integrated seat. I don't think Blackrock's private credit franchise is strong enough to choose it over Partners Group's direct PE seats.
Partners Group has placed people pretty well into New York firms if they leave and there is a sizeable number of people who have moved internally from Denver to New York. Both are going to have pay issues, though Partners Group has moved to 100percent cash bonuses which probably swings it ahead of Blackrock where its 50-50.
What drives you to Blackrock culturally over Partners Group? Both firms are generally very bureaucratic, underpay, and are largely in asset-gatherer mode. I think last point is that being at the more marquee group at the firm (private equity) has some intangible benefits in getting shit done internally that you won't see at Blackrock.
Other option is to just re-recruit for just PE seats in New York or LA. Market still seems relatively open based on inbounds I have been getting.
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