Big 4 TAS/CF to PE DD in UK
Hi guys,
Im from the UK.
I here its possible to exit from Big 4 Transaction Services into a PE firm doing Due Diligence at a mid market firm, which sounds interesting to me. Is this considered a FO role? What are the hours and compensation like as you start and progress?
Would it be easier to move into corporate finance and then exit into PE or would you be moving into a different kind of role?
I like accounting, but I am interested in using my accounting skills to aid with investment decisions and analysing companies.
Any advice is much appreciated gents!
Regards
It is possible, but unlikely. Most PE firms, particularly MM firms, outsource DD work. They prefer to run lean and thus, if you aren't part of the deal team, they don't want you on the payroll.
However, there are examples of guys that moved from B4 TAS to MM PE (Platinum had a few, in Europe even). It tends to happen more in boom periods like 2005-2007, when labor supply is tight and activity is flourishing.
If you landed a gig within a MM PE firm solely focused on DD, tax and/or accounting functions (fund acctg, purchase price allocation, etc.), it would be MO/BO and you would never make as much.
Most TAS guys do not have the skills and mindset to become members of the deal team, but there are exceptions. It will just be an uphill battle.
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