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.
 

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