LMM Startup PE Fund Vs. Tier 2 Consulting Firm
Hi everyone, I really need some help. I have been working at a small private equity firm (in the 10-30 million EBITDA range) for almost a year now and have considered joining other firms. I received an offer to join a tier 2 management consulting firm (think of OW, LEK, Kearney and RB) as business analyst.
About Myself: Fresh out of college from a semi-target school and have previous experience in another tier 2 consulting firm (summer internships).
About the Fund: Small fund USD 250mn AUM but with a really small investment team (literally 2 partners and 2 analysts, one of which is me + 2 people in operations, one who is also partner.) They do plan on bringing perhaps one more analyst and a VP to manage the investment team but the structure will be no greater than a 6 person investment team, at least until they raise fund 2. The capital is mostly proprietary from the LP's (these are not the two partners but very close people, essentially at the office everyday).
The fund has essentially done no investments, there are some other assets they manage for the LP's but they are not part of the vehicle itself.
The partners are smart and hardworking (also seem somewhat ethical) but i have caught myself wondering about their capacity at times (perhaps thats why I am just a naive analyst lol).
In terms of comp, I would be taking a 20/30% pay cut to join this new fund and greatly risking my career. However, they have said that we have exposure to carry, issue is that by the time fund I closes i will be ~32 yo.
Meanwhile, the tier 2 consulting firm offers a great comp package and mopre thant that, a very structured route.
I dont know that to do... any advice?
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