Applying to a PE shop who we are currently doing a deal with - Dilemma

I have been working at a boutique IB for nearly two years now. Currently, we are on an ongoing possible transaction with a PE shop in which my director has built strong ties with the partners over the past months. The PE firm is currently seeking an associate and I am thinking about jumping ship. Now, I am worried that the PE partners would notice my name and the firm's name on the resume and contact my director on this possible move.

Is it worth sending my resume in or just forget about it? I don't want any backfire.

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