How does GP-led advisory compare to traditional M&A? Heard they are similar but trying to understand how the different roles compare. Also any insight into exits, pay, etc would be helpful as well. Thanks.
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I did my summer in GP-Led Advisory at a top boutique in Secondaries, and also did an internship in M&A before that.
The GP-led & and M&A process is incredibly similar, with the bulk of the work being really similar. With that said, LP-Led isn’t that similar, so if given the opportunity, definitely try to be in the GP-Led team.
Hours are the same and so is the base salaries. With that said, bonus for secondaries tends to be higher, especially in down markets given then non-cylical nature of the industry.
Exits are definitely better from M&A as most people are not fully aware of the secondaries is, but it is a space which is growing really fast.
Great! Thanks for the info. Can you exit to PE from GP-led advisory?
Would be a more uphill battle.
How easy is it to switch from secondaries to M&A within the bank after a year or two?
Depends on the bank. Is it an EB or an MM?
EB
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