Do the deal teams in private equity ever act as operating partners also?

I am just starting to learn about how the private equity industry functions, so bear with my ignorance.

From the research I have gathered it seems that there are two different types of private equity funds, you can either be an independent sponsor or the type that raises, manages, and deploys capital. These firms have deal teams and operating partners (or sometimes consultants or advisor).
I want to break into private equity eventually, but am drawn to the industry because the functions of both the deal team and operating team are very appealing. Are there firms (independent to large firms) that allow associates and up to operate on both sides of the fence? Do independent sponsors act in deal sourcing and operations?

Thanks in advance.

1 Comments
 

Aut aliquid quia doloribus consectetur et ipsa. Sequi quidem architecto voluptas debitis itaque ratione modi. Et voluptatem harum molestiae voluptatem qui nam nulla. Nesciunt sint est quaerat et quo quaerat. Praesentium et aut eos repellat.

Omnis aut esse autem. Aperiam voluptate consequatur corporis quia quos. Minus architecto nostrum sint iusto aut earum quis est. Error voluptas ut maxime molestias fugit. Fugiat dignissimos exercitationem nihil nam et deleniti. Qui in iste cum eum. Repellendus eius optio magnam nesciunt.

Career Advancement Opportunities

August 2026 Private Equity

  • The Riverside Company 99.6%
  • Blackstone Group 99.2%
  • KKR (Kohlberg Kravis Roberts) 98.9%
  • Warburg Pincus 98.5%
  • Vista Equity Partners 98.1%

Overall Employee Satisfaction

August 2026 Private Equity

  • Blackstone Group 99.6%
  • KKR (Kohlberg Kravis Roberts) 99.2%
  • The Riverside Company 98.9%
  • Ardian 98.5%
  • Warburg Pincus 98.1%

Professional Growth Opportunities

August 2026 Private Equity

  • Bain Capital 99.6%
  • The Riverside Company 99.2%
  • Blackstone Group 98.9%
  • Starwood Capital Group 98.5%
  • KKR (Kohlberg Kravis Roberts) 98.1%

Total Avg Compensation

August 2026 Private Equity

  • Principal (9) $653
  • Director/MD (24) $547
  • Vice President (99) $363
  • 3rd+ Year Associate (105) $280
  • 2nd Year Associate (235) $272
  • 1st Year Associate (413) $231
  • 3rd+ Year Analyst (33) $157
  • 2nd Year Analyst (97) $134
  • 1st Year Analyst (272) $124
  • Intern/Summer Associate (38) $81
  • Intern/Summer Analyst (355) $61
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”