Breaking into Infra PE
Hello! I am hoping to break into Infra PE in the near term (2 - 3 years) and wanted to seek for some advice.
Background: Top tier non-target with an engineering degree. Broke into BB IB product group, and pivoted into a small late-stage venture fund (climate-focused) after 1 year of banking.
I know it is atypical for growth folks to transition into PE; what is the most effective way as an immediate next step to break into infra PE? (1) smaller buyout funds, (2) renewable energy developer. Also looking for general advice to navigate a career in infra PE.
If your product group was not M&A or project finance related then none of your experience so far would really be relevant for Infra PE. The VC role will be good to signal interest in climate stuff / energy transition broadly but it doesn’t give you the required technical skill set.
The best way to get to Infra PE from where you stand would be to go back to banking to a Power / Utilities / Infrastructure group that is M&A-heavy where you’ll get a lot of modeling reps. You may find yourself having to take a step back as an analyst again (especially in this market) but after at least 1-2 years of that, getting to Infra PE should be doable. Going to a developer is a feasible path but higher risk in the sense that you just may not end up getting as many bites from recruiters / funds as you would from banking.
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Work at one of the UMM/MFs listed below on this thread… there is a ton of appetite for people who have tax equity modeling experience and it’s something we place a lot of emphasis on given it’s a rarer skillset but necessary to have a good understanding if you’re doing anything that falls under the ITC/PTC umbrella (which has only broadened since IRA). LBO / standard corporate finance modeling is always going to be necessary but frankly if you can model tax equity well you will be fine with anything else after a few reps.
Agree with above, you check the interest box but not much else. I think you need to go back to infra/P&U IB
Hi all, wanted to check what shops to reach out to regarding Infra PE
From my understanding, UMM/MF Infra PE includes:
GIP, Stonepeak, Brookfield, EQT. Any others I'm missing out on? Thanks!
Antin, BX, KKR, I Squared
Is infra PE possible from a top LevFin group that handles modeling? Majority of the profiles I come across at the more infra-focused funds seem to come from PUI or project finance of course, but I’m curious if the jump from LevFin is at least doable.
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