Business Development (sourcing / origination) at a Zombie Fund. Any advice?
Long-time poster on a throwaway for obvious reasons, hah. Short version is: I'm a mid-level BD professional at a dead fund. My role is banker coverage, so not dialing-for-dollars to companies direct. I've had a little traction so far with initial conversations for other opportunities, and have put out a few feelers with BD peers who are keeping their eyes open for me, but wondering what else (if anything?) I should be doing. One problem is that I'm in a small PE market and cannot relocate for family reasons, so am looking for remote/hybrid opportunities (e.g., if a west coast firm wants an easier time covering the east coast and midwest, I'd be a perfect fit).
Another option I've been thinking about: it seems like a lot of banks are hiring for their Sponsors coverage groups right now. I'd probably be a good fit for that since I'm the other side of the coin right now, and most of my background is in banking (small boutique), but unsure how to go about exploring that more. Also concerned about the WLB vs. BD. I'd love to ultimately be in PE BD long-term so also hesitant about pursuing this.
Any advice or other ideas for me?
wsothrowaway22, hey, look at the bright side, at least you didn't get a ton of monkey shit thrown at you...here is my best guess on threads that might be helpful:
More suggestions...
You're welcome.
Let me try a bump here.
Hey man, it might be worth just checking out senior BD roles in the industry you cover if you can't find anything PE-related in the short-mid term. I've seen a ton of VC-related postings from Sr. Assoc to Principal posted on LNKD lately that could also be a fit given the sourcing-heavy nature, but that will be more company direct vs bankers.
On a separate note, could you share a bit more about your fund? Size, comp, etc.
Appreciate the suggestion. Intriguing, but not sure if that would be a fit for my skillset/interests, but definitely will keep it in mind. PM and I can share some detail around comp. I'm definitely underpaid given the circumstances, haha.
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