Lateral Analyst at BB in FoFs. Want to move to Coverage / LevFin internall - HOW?
Hi monkeys - title lays it out quite clearly but to elaborate, I have 3 internships within alternative investment managers (MFs) however due to a lack of IB experience, none of them were convertable to 'investment professional' roles. I learned a lot and I'm really keen to end up in this type of seat however in the mean time, I accepted a lateral analyst 3 role at a BB's AM-arm which is a big step up title wise (and took many rounds / cases to secure). Problem is, it's for a FoFs seat which is a great role in terms of WLB and access to GPs however I feel too far removed from the asset level analysis which is what primarily interests me it turns out.
I'm thinking it will be nearly impossible to move from FoFs to direct at a top firm so I could potentially sit in this FoFs seat and perform for a year or so meanwhile building a network in the bank with the IB / LevFin teams to potentially pitch the move to them when the time comes. Then a few years in IBD and I will have optionality again.
I also don't think many HHs will put me in the process for these seats when I'm up against AN2/3s in IBD.
Thanks in advance for any advice and if you happen to know someone in LevFin / Coverage based in London and looking for an analyst.... PM me pls.
Based on the most helpful WSO content, here are some steps and strategies you can take to move from a Fund of Funds (FoFs) role to a Coverage or Leveraged Finance (LevFin) role internally at a bulge bracket (BB) bank:
Build Strong Relationships:
Leverage Your Current Role:
Demonstrate Your Interest and Knowledge:
Seek Internal Opportunities:
Performance and Timing:
Utilize Head Hunters (HHs):
Optionality and Long-Term Planning:
By following these steps, you can strategically position yourself for a successful transition from a FoFs role to a Coverage or LevFin role within your bank. Good luck!
Sources: Credit Analyst Q&A, Q&A: HF Analyst @ $5bn+ Fund - Breaking In and Transition to Risk-Taking Role, Day in the Life--Middle Office (Risk), https://www.wallstreetoasis.com/forum/asset-management/qa-current-analyst-at-20bn-hedge-fof?customgpt=1, Lev Fin Outlook & Best Groups 2020
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Sorry, I read your post twice and don’t understand a bit. You did 3 off cycles at HFs and immediately after got A3 role at BB in their investments arm? Or am I missing something?
Apologies - theres a lot of context I was trying to lay out in brief terms.
I spent over a year completing off cycles at 'conventionally top' private equity firms and then recruited for a typical 'investment professional - Senior Analyst / Associate' role at a FoFs. Historically they hired people with 1+ years of IBD as most funds but I suppose given it's FoF they were willing to take a chance on me without the IBD pre-requisite.
I also read a lot and interview well - feedback from interviews was that I know the market really well for my age and my technicals are strong. The issue is I just can't land interviews at the roles I want given the lack of IBD background.
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