Don't get it...
So I've done recently a lot of research (career wise) about private equity fund of funds (FoF). I found many comments that FoF is not so good for your career (not many exit options, skills are not so transferable, etc).
The point which I don't get is why the guys from BB IB (and amongst them many from IDB) or strat houses (MBBB) work for them?
I checked couple of FoF... AlpInvest (www.alpinvest.com), HarbourVest (www.harbourvest.com), Lexington Partners (www.lexingtonpartners.com), Paul Capital (www.paulcapital.com), Landmark Partners (www.landmarkpartners.com), etc. I checked team profiles and almost all the folks come from BB IBD or from BCG or so...?
So what's the deal with FoF? If they are not so good why all these people join them?
Off the top of my head, I'm pretty sure Harbourvest is also an actual private equity firm. They were one of the sponsors on a deal I monitored over the summer. Dunno about the others.
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