Advice for breaking into a Megafund
Hi all,
My goal is to break into a front office Corporate PE role, ideally at a top fund.
My background:
In 2018, I graduated from a non-target U.K. University with a First Class degree in Chemistry.
From here I moved into a medium sized accountancy firm - I am due to gain my ACA (English equivalent of the CPA) in around 6 months. All first time passes so far and one exam left.
Through online courses I have built up my financial modelling skills and have now managed to land a role in an alternative investments firm.
This firm has circa £2 billion AUM. My role is as a financial modelling analyst for one of their real estate investment trusts. But I think this is probably considered a mid office role as it is operational modelling for an existing REIT rather than being for new investments.
What would be the best steps going forward?
I don’t want to get stuck in real estate forever, however this role does seem a lot closer to where I want to go than my old job in audit.
Thanks for your help!!
REPE is extremely competitive, and obviously even more so at the REPE MFs. You candidly don’t have a good chance of lateraled to a MF with your current background. If you can get acquisition experience at your shop for at least 2 years, you have a chance. Without that, you should really recruit for smaller REPE shops ($100M-$1B fund size range).
Second the recommendation to move to REPE at a smaller shop. Analyst and associate roles at megafunds, or really any REPE, are extremely competitive and you don't have the background for a top fund yet. Easier to move upstream once you're already in and have a few years of experience.
Nontarget education. Mid office experience. I would adjust my expectations if I were you
Thanks guys -
I am confident I can move into a pure front office role within a year. My predecessor is doing just that.
Do the large funds even look at people if they have the experience, but only have smaller firms on the resumé?
Again man it’s an uphill battle. For these positions at large funds, there are dozens of candidates with better qualifications. If you can get an investment job, and you’re dead set on moving to the largest fund you can, you might want to look at trying to get into a top business school
It can absolutely be done. Realistically you would have to switch to a smaller REPE fund, work there for 2-3 years, and then recruit for a similar position at a MF. You’d lateral and perhaps take a title reduction at a MF, but you’ll be compensated more (speaking from experience, my pay went up $55K lateraling from middle market REPE to MF REPE). An uphill battle, but experience trumps prestige IMO!
Thank you I really appreciate this... I am moving to a REPE firm this month.
I’ll be doing a lot of modelling for one of the REITs as well as financial due diligence for prospective lessees. So I’m hoping this will give me a solid foundation before looking at a top MBA program a couple of years down the line.
Out of interest is moving from REPE to Corporate PE virtually impossible?
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