Gap Year Recruiting

Wanted to ask for help on my recruiting situation: I am finishing up a 2 year contract in IB. I didn't recruit for PE last year, and I won't be getting an offer for a third year. I am in discussions with a Top MF-PE for summer 2020.

This would cause me to have a gap year between now and when I start there.

What is the best way to spin this? Do I have a shot at this fund? I do have a some entrepreneurial things I want to accomplish/begin/assist on (several circumstances), in addition to studying for the GMAT, but would that be seen as a good excuse?

Thanks, TS

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