Impact PE to Hedge Fund

Hi all,

Starting to get pings about impact investing opportunities at PE firms (Bain, TPG, etc). Given this is not vanilla PE, would it be possible to move to a hedge fund after 2 years as an associate?

Just wondering if the standard 2+2+2 path would be possible

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I don't know if it's possible, but I don't have any evidence to show it wouldn't be possible.

Having said that: impact PE - for example, TPG Rise Climate - will on average attract a very certain type of individual who wants to try to address societal issues through an investment lens. It doesn't have to be for the rest of your life, but it is a rather specialized type of investing (at least, in theory - I could make all kinds of arguments about what certain funds are really doing) and it's usually an "exit" in it of itself, not a stepping stone. I would argue that vanilla MF PE is much more of a stepping stone these days, but impact PE is maybe not quite that.

 

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