Switching industry coverage

Absolutely, it's not uncommon to switch industry focus when moving from investment banking to private equity. In fact, I've seen quite a few people transition from a specific industry coverage group in investment banking to a private equity firm that covers a completely different sector. The skills you've gained from working in healthcare, especially in high-growth, innovative areas like biotech, can be broadly applicable to other industries.

Moreover, the experience of modelling a biotech company can be quite complex, so having that under your belt can make you a strong candidate for PE roles, even in different industries. Remember, the analytical and financial skills you've developed are highly transferable.

However, it's important to note that while the transition is possible, it may require some additional effort on your part to familiarize yourself with the new industry. You might need to do some extra homework to understand the dynamics and key players of the new sector you're interested in.

In terms of recruiting into PE focused on a different industry, it's all about positioning your experience and skills in a way that's relevant to the new industry. Highlight your transferable skills, your ability to quickly learn and adapt, and your experience working with high-growth companies.

Remember, every experience is a learning opportunity and can be leveraged in your next role. So, don't worry too much about the industry switch. Focus on your skills, your adaptability, and your willingness to learn and grow.

Sources: Can we start a thread on the pros and cons of different coverage groups from a work / career perspective?, IBD Industry Group is different from PE industry focus?