Does it make sense to go from software CD->traditional PE if my end goal is software PE?
2nd year corp dev analyst covering several software verticals. LT goal is to get to a MM+ software buyout shop, expecting to probably shoot for an MBA. Have an opportunity to lateral in my non-T1 city to a LMM shop that's more traditional (manufacturing, business services, transportation) with a $250M-500M fund. GPs look solid, there would be a decent pay bump, and I'd get more of an execution experience in a principal investing role vs the sourcing & execution-lite role I'm in now.
Does it make more sense to pass on this and wait until an opportunity to jump to TMT banking/software PE so I can stay in my sector or is it reasonable to get the principal investing experience first even if it's not in the same vertical I know I want to get to LT?
I would take the investing experience and move from there back to your field to a "more suitable" PE. Moving within PE when you bring sector exp. is easier than finding a PE seat without investing exp. My take
Agree with this. I've written at length as to why the Corp Dev --> PE shift is really tough. Nothing beats actual investing experience when it comes to PE, so even if it isn't in the sector you'd like to be in, you probably have enough software knowledge from Corp Dev to make a case for why software PE down the line.
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