Secondaries advisory: moving from an LP-led focused role to GP-leds

Hi all,

As the title suggests, I’m wondering how difficult it is to transition from the LP-led side to GP-leds.

Having worked on both, I appreciate that each requires a somewhat different skill set. However, my intuition is that the move shouldn’t be overly challenging, given that both require a solid understanding of fund mechanics, valuation, and the secondaries market more broadly.

That said, I’ve come across a few posts suggesting that it’s harder than it looks, particularly if you spend too long focused on LP-led transactions and end up getting pigeonholed.

For context, I’ve been working in LP-led advisory for a year, with some exposure to GP-led transactions as well. Longer term, I’d like to specialise in GP-leds.

I’d really appreciate hearing from anyone who’s made the transition.

Cheers!