Would you work at this distressed fund?
Doing diligence for recruiting, but will keep the name anonymous. Would you join a distressed fund with the following statistics? I’m not sure if this can lead to decent fundraising so wanted to check here:
Fund sits in a larger platform. Distressed fund vintage 1 is from 2020, 10% irr, 3rd quartile, 80% DPI. Vintage 2 from 2024, 8% irr, 3rd/4th quartile depending on source, sub 20% dpi. Fund 1 to fund 2 was a down raise of about 30%. Fund 2 is close to deployed so any new hire is looking at fund 3/4/5 etc for economics and promotions.
Is this viable? Thanks in advance