Experience transitioning from LP to GP?
Hello all,
I am currently at a well known PE FoF with strong secondary/co-investment arms. I've become very interested in the strategy of one of the MM funds we've invested in, and wanted to approach them at some point expressing my interest in working for them. I'm junior enough where I don't think I'd be considered for an associate position. I was wondering if anyone has experience or how one would recommend tactfully maneuvering my communication with the MM firm so that my current employer wouldn't know. I do really enjoy where I'm currently at, it's just that after working on a few deals I've become almost exclusively interested in the industry this MM firm targets.
Thanks for the help!
Transfer from LP to GP in Private Equity (Originally Posted: 06/06/2016)
I was recently offered a position at an Limited Partnership PE Fund. does anyone have any insights into LP firms? what they do? what skills are needed etc? and lastly can you make the switch from LP to GP?
I'm assuming you mean a FoF? An LP is a limited partner, which means they are one of the people investing in the PE Fund. Most of your work will be manager analysis. You'll get to understand the industry really well, but won't be modeling LBOs. As for the transition, it is hard but not impossible. You'll have access to a lot of PE firms and will have the ability to make relationships. You won't have headhunters knocking down your door for PE roles so you'll have to do it on your own if you want to try.
It's definitely not going to be easy, but if you work really hard there is a chance.
For reference, I'm an analyst at an E&F who has networked with lower mm firms who have said they'd be interested in bringing me on.
From LP to GP (Originally Posted: 11/09/2010)
I currently work as an analyst for a family office / foundation with around $2bn in assets, around 25% is invested in PE (or illiquids if you include real estate, mezz, vc, oaktree type funds etc)....with the remainder in long-only or hedge funds.
I've only been here 6 months (after a 18 month grad scheme at a traditional Asset Management house working in sales/marketing/ir), just trying to get an impression if anyone has experience of people with a similar background to mine working within PE, or is it more likely within private equity fund of funds given that this is what I spend the majority of my time doing.
Also, any thoughts on CAIA I've got CFA level 1 but CAIA seems a bit more relevant?
Thanks Monkeys.
I know a few people who've worked in similar situations at University endowments and the most common destination seems to be either fund of funds or asset managers in the truest sense-allocating high net worth/pension/endowment/etc funds to various strategies and pciking managers.
CFA is far more valuable than CAIA. Half the people at the fund I work for have their CFA, no one had even heard of the CAIA when I brought it up.
Thanks for the info, I think 'asset allocation' (rather than PE) is probably where I want to be anyway. Will I be competing with people from an IBD type background for these type of roles - in which case will it need an MBA to get on a level playing field?
For what its worth I'm based in London (Mayfair) rather than the US.
CFA would suffice/is what you need IMO.
Prob won't get a whole lot of competition from people coming from IB
Has anyone got a list of PE FoF, a few I know of are:
Harbourvest Pantheon Coller Capital Hamilton Lane Squadron Greenspring (VC)
Any more to add to the list?
Thanks
How does the subject for this thread in any way relate to the question asked?
I'm asking if people you buy PE funds (LPs) ever move to be the actual PE investors (GPs)....not sure where the confusion is?
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