Corp Dev to PE/PC/AM/PM/IR/RE/GE/VC?

Did 7 months HC IB, hated my group

Left to Corp Dev at a PE backed portco. I focus purely on M&A, no strategy or integration at all. Focus on industrial services space.

Focused on a roll up strategy acquiring smaller competitors across the US. Essentially doing PE lol: Sourcing deals, managing relationships with clients and brokers, due diligence, handling legal (IOI, LOI, Contract negotiation, lender negotiation, earn outs, Rx (S-Corp pre transaction F reorg), etc), modeling and underwriting, execution, and that’s about it. Again, purely M&A, post close we hand off to integration team. We are pretty lean, I’m the only “Junior” and I have a VP. 2 man team.

Been here for little over a year and have done 11 transactions, all acquisitions, with a gross value of ~400million.

I’m bored and want to move. How does going to the following areas look for me ?

PE, Asset Management, Portfolio Management, IR, Growth Equity, Real Estate, VC, Private Credit?

Looking for something more institutional and maybe international ? Want to be at a bigger platform.

Would appreciate any insight. Also, are there any other career paths I should be targeting ?

4 Comments
 
Most Helpful

there have been some posts about this topic over the years. Truth is, you have IB exp, albeit it's in a different sector to what you're currently working in on the CD side of things. If your CD role was also in HC, i'd say you'd have a strong chance of switching to a HC PE role (assuming you worked on a few deals during your 7 months in IB). It's something which is common among MM PE shops; a tiny portion of their associates have done the IB => CD => PE pipeline

In saying all this, it's not impossible as you do have IB exp and your CD role is M&A focused so i wouldn't rule it out

 

Based on the most helpful WSO content, your experience in Corp Dev with a strong focus on M&A, deal sourcing, and execution positions you well for several potential career paths. Here's a breakdown of your prospects for each area you mentioned:

  1. Private Equity (PE):

    • Your current role mirrors many aspects of PE, especially with your hands-on experience in sourcing, due diligence, and deal execution.
    • Transitioning to PE is feasible, particularly at middle-market or lower-middle-market funds that value operational and deal experience.
    • Networking will be critical, as PE firms often prefer candidates with prior IB or PE experience. Highlight your deal volume and transaction value (~$400M) to stand out.
  2. Asset Management (AM):

    • Your M&A experience is less directly aligned with AM, which focuses more on portfolio management and investment strategies across asset classes.
    • Transitioning here might require additional skills or certifications (e.g., CFA) to demonstrate your ability to manage and analyze diverse investment portfolios.
  3. Portfolio Management (PM):

    • Similar to AM, PM roles are more investment-focused and less deal-oriented.
    • Your experience could be leveraged if you target PM roles within private equity or real estate funds, where operational insights and M&A expertise are valued.
  4. Investor Relations (IR):

    • Your deal experience and ability to manage relationships with brokers and clients could translate well into IR, especially at larger PE or VC firms.
    • IR roles often require strong communication skills and the ability to articulate investment strategies to LPs, which you can position as a natural extension of your current relationship management experience.
  5. Growth Equity (GE):

    • GE could be a strong fit given your M&A background and exposure to industrial services.
    • Highlight your ability to identify and execute growth opportunities, as GE firms often look for candidates with a mix of operational and transactional experience.
  6. Real Estate (RE):

    • Transitioning to RE might be more challenging unless you can demonstrate transferable skills, such as financial modeling and deal structuring.
    • Consider targeting RE funds with a focus on acquisitions, as your M&A expertise could align with their needs.
  7. Venture Capital (VC):

    • VC typically values operational experience in startups or tech, which may not align with your industrial services background.
    • However, if you can position yourself as having strong deal execution skills and an interest in early-stage investing, you might find opportunities in VC firms focused on industrial or B2B sectors.
  8. Private Credit (PC):

    • Your experience with lender negotiations and structuring deals could make PC a viable option.
    • Highlight your understanding of credit structures and your ability to manage complex transactions.

Additional Career Paths to Consider:

  • Corporate Strategy: Your M&A expertise could transition well into a corporate strategy role at a larger, more institutional company.
  • Management Consulting: Firms like MBB value transaction experience and could offer you exposure to a broader range of industries and strategic challenges.
  • International PE/IB: If you're looking for international exposure, consider targeting global PE firms or investment banks with a strong international presence.

Key Recommendations:

  • Networking: Leverage your existing relationships with brokers, lenders, and other industry professionals to explore opportunities.
  • Targeted Applications: Focus on roles where your M&A and deal execution skills are directly applicable, such as PE, GE, or PC.
  • Skill Development: If you're considering a pivot to AM, PM, or VC, consider pursuing certifications (e.g., CFA) or gaining sector-specific knowledge to strengthen your candidacy.
  • International Opportunities: Look into firms with a global footprint, as they may value your transactional experience and offer the international exposure you seek.

Your deal experience and ability to operate in a lean team environment are significant assets. Tailor your narrative to emphasize these strengths, and you'll be well-positioned for a move to a larger, more institutional platform.

Sources: Private Equity vs Venture Capital - Differences and Similarities, CorpDev to PE prospects - creating a long-term map / success stories, Corporate Development Manager - Q&A, Corporate Strategy vs Corporate Development, Career Advice: Acquisitions vs. Development

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Eum id qui maxime voluptatem aut est commodi dolore. Vel sit corrupti corrupti facilis eligendi ut itaque ut. Sunt omnis ipsam perferendis aut officia illo tempore tempore. Minus mollitia occaecati modi nemo voluptatem.

Hic cupiditate dignissimos dolores quia. Dolores non perspiciatis perferendis magni molestiae perferendis. Ratione porro repudiandae voluptas repellendus sit nam.

Beatae perspiciatis et autem quibusdam aut repudiandae voluptatibus. Consequatur hic velit incidunt. Tenetur sed ducimus aut ipsa aspernatur pariatur sint. Atque minima tenetur dolores et quos porro.

Illum rem et consequuntur aliquid. Ratione ut facere odio maiores enim. Qui sit esse architecto et aut odit ipsa.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (68) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
DrApeman's picture
DrApeman
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
GameTheory's picture
GameTheory
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”