My only potential FT opportunity

TL; DR - How do I approach a PE firm I'd been in the process with? Conversations had gone well and I was told process was to be delayed to the summer. How do I approach the principal (if at all right now?)- should I ask him over email for an update or a phone call? Should I mention in my email that I remain very interested (not knowing what happened to their fund raising / portfolio over last 2 months? Pls share some thoughts. I am sorry if my OP had too much detail, but I wanted to give a full picture. Thanks in advance

There was a new emerging quasi FoF-coinvest fund that I'd interviewed with who were in process of fundraising. I met the guys in early March when I had visited the country from Asia.  First round was a 75 min call (after an initial 30 min phone call) followed by a take-home PE case study that I had done quite well on. I believe he was impressed. We had the first over a phone and the next through a video. I was in Asia then.

Fast forward, when I visited the country in March from Asia, I met the principal and a partner of this fund and some other members of the team (COO, Associate who'd be reporting to me). Tge Partner, principal and associate had taken me out for lunch - which had gone well and later partner had asked principal to show me the office. I sort of got a response to all my thank you emails afterward. Partner had sent me an image of something that referenced the case study we did together. (Which was random) the principal had also said "great meeting you and we'll be in touch with next steps. How long am I in the city for..." so that was pretty much before the world Collapsed.  principal and I had a catch-up call end of March when he'd said that they'd have to postpone the process to the summer. He had then given me a very quick update on the parent company as well as his team's portfolio (saying they remained confident in it). Now, 2 months on, my other processes have been almost halted or chugging along very slowly. I only have 3/4 things in pipeline. This firm is/was my top choice, and if economics make sense, I want to join. I wanted to get in touch and get an update on recruitment process, portfolio, and fund raising, any interest in talking with me? Or should I wait till summer?

How should I phrase it? I've been in touch with the Principal since October last year when the process began and we had a brief 20 min call. I think we've connected very well professionally. Partner and principal are only 12 and 5 years elder than me, so young team. I don't want to sound transactional and robotic as I gelled with them professionally, but also would like some clarity. Please advise me. Getting anxious as it's been 9 months already into job search.PS - mba graduate of a top school and so are the folks I met. Hopefully they'll know what economics make sense. Yes I know I can be precise but wanted to give a full picture hence the mundane details. Thanks in advance!

 

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