American PE VP who needs to move to London for personal reasons - how should I go about it?
Hi all.
My wife is English so visa's won't be an issue. She has had a family issue pop up, so we are going to have to move to the UK for ~3 years. I'm trying to figure out what that means for my career, and how to make the best of it. It doesn't need to be immediate-we're thinking of doing the move next summer.
I'm 30, currently a VP at a small buyout fund with around ~$500M AUM. I've been here my whole career, my biggest wins have been on the origination front (I've originated 3 of our last 5 acquisitions). But it's just too small for me to try to set up a London office, and I'm ready for a change anyway, either a larger buyout fund or doing more growth equity/VC.
I've scanned all the WSO and Reddit forums, but it feels like they're mostly for people just starting in their career looking to find a place to settle down. I've got 8 years of experience, and the plan would be go to London for 3 years and then come back.
I effectively have 2 questions:
1. What's the best way to go about this while minimizing negative impacts to my career? I'm still young enough carry isn't a huge consideration. But I want to make sure I don't just step out for a few years, leave behind my NYC contacts and career, and then have to come back and start all over when I'm 35. I recognize I'm going to take a pay cut, but will it be that bad at my seniority level? The obvious answer to me seems to be try to get a job at a big international fund with NYC and London offices like Battery or TCV and transfer back, but not sure just how much I'd be able to crack that given my typical deal size is $30-50M.
2. Anything London specific vs NYC I should consider? I'm trying to really get up to speed on London and the EU, but I'm coming from being very, very good at one thing: identifying and executing on ~$50M EV US buyout opportunities in TMT. I could probably lateral into a growth equity or VC job here, but not sure if it's more insular in the UK or not. I know I'll need to brush up on IFRS and the like.
If it matters, I've got a BS and an MSF in finance from very well respected international universities. That said, my skill sets have been more on the origination side-I'm a decent spreadsheet jockey, but there are plenty of 23 year old analysts who blow me away. No kids yet, but given timing it's likely we'll have them while we're in the UK.
Bump
To make the most of your move to London while minimizing career disruption, here’s a roadmap based on the most helpful WSO content:
1. Minimizing Career Impact
2. London-Specific Considerations
3. Long-Term Strategy
4. Family and Personal Considerations
By targeting the right firms, leveraging your origination expertise, and proactively networking, you can make this transition a strategic career move rather than a setback. London offers a unique opportunity to broaden your experience and skill set, which will only enhance your value when you return to NYC.
Sources: Opportunity to move from NY to Europe in Structuring/Origination, How can I make it into AM in the U.K, Q&A: London L/S + event-driven analyst, London Advice on current situation and transition to IBD/S&T, Q&A - London IBD to megafund PE
Gonna be honest with you, chief: market is not sparkling right now by any stretch. You should reach out to the various recruiters, esp. the likes of Dartmouth, Nordbridge, Kea Consultants. I think Asset Partners might also have a P job in TMT posted.
Good luck to you guys!
Yup...my first time searching for a job since I before covid, and I've been hearing how different the market is. Old interns of mine who graduated in December are emailing me asking for references or if we're hiring. My hope is given my work experience and track record on origination, it'll be a little easier for me.
I appreciate the best wishes! This is all a very new development for me, it kind of came up over the weekend. Luckily it's not something that needs to happen immediately, I can spend the next 9 months or so looking for the right opportunity.
If you've built a good reputation, credibility and have been at your firm for a number of years, you may be able to work remotely from London. You'd have to deal with US hours which can be challenging, but that would at least buy you time to look for a new gig. It is MUCH easier to find a new job when you're currently working, you'll continue to get a paycheck and the reality is that it's a tough market, so this is likely not a 3 month job search.
At a small firm, VP+ departures make a big impact, so I'd like to think you'd have some flexibility, but obviously depends on the partners.
I've thought about it, but the truth is we're such a small firm, everyone in the office, I'm on the road a lot trying to originate or visiting businesses, doing it all remotely would just not be feasible for me. And we just don't have the scale to build a real UK/EU presence.
Luckily, we're talking 9-12 months before I need to move. So the plan is to keep working here in NYC until the right opportunity presents itself.
I don't know anything about the European PE market but I'm guessing a fully remote U.S. PE job (with more limited travel) would be better from a career perspective (assuming you'll move back to the U.S. eventually). You could also try to reach out to mid-sized, growing firms who may have a European office need. Probably hard to find but dont' know until you try.
Know both markets pretty well. Feel free to PM.
TLDR: Gonna be a challenge, very unlikely to land in MF seat if core buyout PE is your focus. Might have some luck in other strategies with more momentum. MM talent market is also much less liquid / smaller in Europe than US so might be a bit tight.
If you PM will try to have a think of more constructive advice.
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