Quick Background: Went to a semi-target, started in a major city at a Tier 2 MM IB (think Piper, Lincoln, BMO, HW, RJ) and currently work at a LMM $500M PE fund in the Midwest.
I've come to realize over the years that I don't have the personality to make it in the transaction space, and based on what I've read here, I think I would be a good fit for public markets.
When I'm reaching out to firms to try and get on their radar, given my background, what type of shops do I realistically have a shot at, if any? I haven't decided SM vs MM yet (SM sounds like a better seat, but my personality is probably more fit for MMs) and will realistically look at both just to maximize chances.
While I understand the top funds like Lone Pine, Tiger, Viking are out of reach, I might not go down this path if my absolute best outcome is a small $100M fund. Should also include that I'm pretty set on NYC.
Bump
You'll get interviews at all the MMs, that shouldn't be an issue.
SMs is basically a matter of luck in matching timing + what's available. You're not the most competitive background but could get lucky with networking. Note the first point on luck/availability applies also to people with more competitive backgrounds so don't feel too bad about it.
Thanks for your input! Definitely understand that there are very few seats to go around at reputable SMs, but what size/type of SMs should I be looking at to have a realistic shot? I would imagine it would be a waste of time to try and get my foot in the door at the top tier ones.
Is getting an interview with a MM really realistic with my background? Do you think I would have a chance at MMs like Citadel or Point 72? Or were you referring to smaller lesser-known MMs?
Just hit up any and all SMs and don't bother too much about "targeting" specific ones is my view. others may differ. There are lots of 100m - 1B funds that aren't really "known". Talk to recruiters.
MMs interview all bankers from name brand banks - this includes the second tier MMs like the ones you listed. You should be able to find people from those firms who've gotten seats at a variety of MMs.
Couldn't disagree more. His profile is much more likely to get a look at a SM than at MMs.
What makes you think your personality is a better fit for public vs. private markets? Do you have any public pitches ready to go?
I do have a couple pitches that I'm working on, but nothing ready to fully present yet.
Mainly I get exhausted and overly stressed from dealing with multiple parties in a M&A transaction and I don't think I have the social skills / negotiation skills to make it past VP in private equity. I'm naturally very introverted. Oddly enough, I am a fantastic presenter and come across very compelling when I try and convince someone of something I believe in. Also it's what initially sparked my interest in finance in general - I had a small virtual trading business based off online video game economies back before I knew what a balance sheet was.
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