Secondaries Exit Opportunities
Need some advice on a career move: I spent a couple of years as an analyst at a top quartile UMM buyouts firm, and may have the opportunity to work at a new LMM GP-led secondaries team (part of a broader platform). The way it was described to me is they expect it to be high volume, deep asset level analysis but 80/20 compared to buyouts, and good ownership as one of the first associates on the team. The senior team is sharp and has built out a secondaries strategy before so I am confident in its success.
This seems like a great unique opportunity to be part of a strong team early on, and there is obviously a chance I'll find a home at this firm or within secondaries, but I am still figuring out what I want to do long term and am worried taking this role will silo me. I am trying to understand what exit roles look like post an associate stint in secondaries?
Will the volume and dynamic nature of secondaries be a good basis for a fundamental HF role (of course in addition to the other skills I'll have to prove) or a corporate strategy / M&A role? Will there no longer be an opportunity for me to go back to directs at the VP level in case I realize that secondaries isn't for me? Should I instead go to one of the big name secondaries firms where I may not have the opportunity to climb the ladder?
What I'm trying to figuring out is if any of these doors close for me without a traditional buyouts experience. I'm very grateful for the opportunity and know I maybe shouldn't obsess over leaving optionality for myself, but am a couple of years out of college and just want to make sure I'm not digging myself into a hole.