Hey all, I’m currently working in a biotech/life sciences group at a top MM boutique and was wondering what would some of my exits be? Deal flow is solid and I like my group, but I’m at the point in my life where I’m wanting to expand my skill set on the buy side. Thank you!
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Del
Interested
Unsure what exits are like but worth noting that a lot of people burn out from working in life sciences especially if they don't have a relevant undergrad background / genuine interest in the space
There are probably life science pe firms
I am in HC but not directly in life sciences. From what I have seen, people go to VC funds, spec pharma/biotech businesses/HC pe funds.
What type/kind of healthcare pe funds? Could you give some names?
Following.
It depends a lot what you are doing in terms of deals (pure ECM vs m&a or levfin)... funds like Essex woodlands for example or Novo could be interested... HC teams at big funds e.g. Blackstone ls, KKR growth HC or Nordic's HC team too.
On the whole, you'll find your own niche and can grow in it...
Did a bunch of m&a/rx. Was staffed on only 2 ECM deals. Where do you think I should focus?
Guessing m&a is more ideal
Revenue generating companies or biotech? What do you ultimately want?
Pharma corp dev here after 10 years in banking. Happy to answer questions if I can
PE:
In US: Essex, Linden, Riverside…
In EU: GHO, Archimed, G square, Apposite, Gilde… The first two have US offices too
VC is less common I think without science background.
HF not sure
Hey! What made you want to go into corp dev? How is the pay like? I’d assume you were at a comfy spot in IB after being there for 10 years?
1) good timing to switch from IB (now before than 5 years ago level wise, later will make it more difficult). More excited about long term prospects (MD at tier 3 bank for 20 years wasn’t terribly attractive). Attractive platform, team. No real downside at my level - addings lots of valuable connections, skills and experience that I could take back to banking
2) my new employer aligned to my vp3 fixed comp; bonus is a bit lower. Overall package was 10-20% below my last comp; maybe a bit below compared to D level. TBH my bank made it easy to leave to a corporate as my pay was shit vs street, even being top ranked. Would be different If I had been at GS / Centerview
3) yes and no - comfy years at Vp done, moving to sweat years as D (starting to generate business in a mediocre platform becomes quite hard work). But new job has its trade offs (lots to do yourself…) too. The motivation is in 1)
Does BX have a regular HC PE team besides the BXLS platform?
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