How to Move From Restructuring Advisory to Traditional Private Equity?
Currently at a top RX group (Laz, HL, PJT, EVR, MOE). Haven't tried to recruit yet, but realized distressed opportunities aren't really what I'm looking for. Currently prepping for PE as much as I can and am slowly realizing how not having done an M&A deal is causing some issues. From the modeling perspective to just understanding the process fundamentally. Now I know this is all learnable and I've been taking steps to do so (doesn't seem particularly difficult to pick up), but this has me thinking that there's no way I get the nod over someone with M&A experience, all things considered, as an M&A analyst will have 2 year of reps doing M&A deals and I realistically wouldn't have any. Has anyone made this type of move that would have some advice?
What made you realize distressed opportunities aren’t really what you’re looking for? Do you mind elaborating?
Do you feel that way now, but you did not feel the same always (i.e. for first x months of full-time and during your internships it was fine but now you are not into it as much / at all)?
I think after my summer I still was interested in distressed because don't get me wrong, it's still vert interesting, but it was early when I started FT it shifted. It boils down to the type of companies you work on in each, I really would rather work with the companies with strong growth that you see in M&A. Also really like PE's focus on the business over time, as opposed to distressed situations being a little more situational in nature and often resulting in HFs trying to siphen cash from businesses and being creative with capital structure rather than necessarily focusing on operations as much as PE. Might just be the virtue of deals I've worked on, but the business model of PE (LBOs, hold period, evaluate growth opportunities) just strikes me as more interesting. Still think distressed is interesting, but I don't see myself doing it for the rest of my life and would rather make the switch now before I get siloed more than I am.
Also acknowledging some of what I said might not be true, but keep in mind I've only seen M&A from the outside in.
bump
Last bump
Don't give up
Nostrum dolorem maiores in. Tempora autem eaque aut tenetur laboriosam magnam dolorem ipsa. Voluptatem quam occaecati ab doloremque omnis.
Provident saepe molestiae velit et dolorem quidem. Veritatis laudantium sit sit architecto quis id odio explicabo. Nostrum voluptatum perspiciatis dolorem nisi aspernatur sint sit. Itaque doloribus nam reiciendis eos provident non. Fugiat aut molestiae qui non molestiae. Autem earum in rerum magnam totam corrupti. Dolores veniam accusamus omnis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Illum cumque dolorum repellendus non et. Est cupiditate perferendis voluptatem minima.
Quis esse eum id debitis. Ea commodi blanditiis et voluptatem. Nemo id officiis eum voluptatem animi omnis placeat. Dolorem unde molestiae enim veniam velit iusto. Distinctio sed voluptas eum. Fuga repudiandae magnam suscipit maiores autem impedit.
Voluptatum minima voluptatem incidunt qui voluptatem magni corporis. Consequatur accusamus aut eum omnis. Tempore quo sapiente similique impedit asperiores ut voluptas.
Sed cum aut iusto facere cum quibusdam. Vel aliquid dolores alias expedita voluptas. Dolore vero nobis quia.
Iste accusamus perspiciatis aliquid et nulla error temporibus. Error enim delectus nobis dolorem. Dolorem consectetur rerum qui qui quo neque voluptatem veniam. Sint quae quia omnis ut est quia. Mollitia culpa omnis aut delectus. Ducimus in et sint est.
Fugiat quia impedit ex explicabo. Sit itaque et aut quia.
Ratione enim dignissimos blanditiis sed. Assumenda occaecati est sint nobis necessitatibus. Modi culpa ad non qui aut maxime accusamus. Ullam et animi voluptates asperiores consequatur aperiam. Modi praesentium aut dolorem nisi blanditiis sunt culpa.