Spent 4 years in IB and 1 year in a Corp Dev - want to move to PE. How differently should I explain my corp. dev. deal experience vs IB ? Would adding thoughts on strategy and post-merger impact be relevant for a PE fund ? To what level of detail ?
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To position yourself effectively for a move from IB >> Corp Dev >> PE, here's how you should approach explaining your Corp Dev experience compared to IB:
Highlight the Strategic Perspective:
Based on the most helpful WSO content, PE firms value candidates who can think beyond just financial modeling and deal execution. In Corp Dev, you likely gained insights into the strategic rationale behind acquisitions, such as synergies, market expansion, or operational integration. Emphasize how you contributed to these strategic decisions and how they align with the ultimate goal in PE—investing to generate returns.
Post-Merger Impact and Execution:
Adding thoughts on strategy and post-merger impact is highly relevant for PE. PE firms often focus on value creation post-acquisition, so showcasing your experience in areas like integration planning, synergy realization, or operational improvements will resonate well. Be specific about your role in these processes and the outcomes achieved.
Level of Detail:
Tailor to PE's Focus:
PE firms prioritize financial returns, so frame your Corp Dev experience in terms of how it aligns with PE's objectives. For example, if you worked on deals that improved operational efficiency or expanded market share, explain how those outcomes could translate into value creation for a PE portfolio company.
Address the Differences:
Acknowledge that while Corp Dev and IB have overlapping skill sets, the pace, attention to detail, and deal logic differ. Use this as an opportunity to demonstrate how your combined experience gives you a unique perspective—strategic depth from Corp Dev and technical expertise from IB.
By blending your IB and Corp Dev experiences thoughtfully and aligning them with PE's priorities, you'll present yourself as a well-rounded candidate capable of making an immediate impact.
Sources: Corporate Development: My Experiences and Background, Corporate Strategy vs Corporate Development, CorpDev to PE prospects - creating a long-term map / success stories, CorpDev -> MM PE?
I made the switch from banking to corporate dev to pe. I had a ton of xp in corp dev in my short time of 1 year there - as best as you can get in corp dev. Think double digit number of deals and double digit billions in EV transaction value. Took a ton of responsibility given lean team dynamic (more than my pe role now even)
Still got no cred for it. It’s seen as a bonus comparing to only IB or other folks but still not as good as other PE xp (even if it’s genuinely better xp)
You’re gonna have to be an associate 1 or 2 at a traditional platform or you can get a sr aso role at a regional / LMM shop potentially
Why do you even wanna? Try for roll up platforms or pe backed higher comp corp dev platforms maybe. But still, getting PE reps would be good
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