Does PE require more social skills?

Longer term, both career require a lot of networking and the ability to be articulate.

Private Equity operates in illiquid markets - there isn't a marketplace for opportunities which you log on to, analyse, and then decide whether to invest in. This is key.

To win, manage, and exit deals successfully needs you to interact with a lot of stakeholders. This isn't exhaustive, but a few below.

First is bankers (and other advisors, but to a much lesser degree). While this is a bit of a one-directional relationship (i.e. you see bankers "trying harder" to meet up with PE than vice versa), PE needs to keep a banking network very warm to get visibility on upcoming deals, understand deal intelligence (which other PE or Strategics are looking at a particular asset, what valuation the seller is expecting, etc.), and be in a position to be a bank's "best horse" when you're hiring a buyside advisor and one bank has a particular angle around a situation which will position your PE shop best. If a bank who you've consistently flipped off and ignored is suddenly on the sellside of an asset you've been tracking, you're missing out. PE is INCREDIBLY competitive these days, with many shops competing for the same asset. So it is more of a two-way socialising street than you might think.

Second is management / asset owners. To win a deal you typically need management to like you (I mean...if the asset seller is another PE then realistically money talks louder, but you can find situations (often) where the selling PE retains a minority stake, so management views still come into it). So at the management presentation you do need to switch on, be charming, ask about their kids, etc.) And then you're going to have board meetings, AGMs, etc., where you're often going to be at drinks and dinners with management. At the end of the day, management will be running a company that your PE owns, so while you can "threaten to fire them", that (1) ignores the fact that they might own a significant stake, and (2) is masively costly and time-consuming. So you need to get on with management, and it will be a multi-year relationship.

Third is LPs. At the senior level in particular you need to charm LPs and "sell" your fund. During fundraising especially, you'll be doing a lot of interactions and will be very much the salesperson. Even between fundraising rounds, you're like to be answering questions on fund or asset performance, attending AGMs, etc.

Beyond this you have (4) internal stakeholders (your IC especially), (5) industry dinners and events (attend industry award shows and related dinners and networking to be able to market the fund or pick up intelligence, (6) conferences where you go and try to meet bolt-ons for your existing PortCos, etc.

Overall I'd say PE, at the senior level, could be seen as social / networking heavy as banking.