Generalist PE professional?
Been reading some LinkedIn profiles - saw some folks who list deals they’ve done, and at a few places, there are some professionals who’ve done a variety of deals (across unrelated sectors). Majority of mid-senior profiles I see though are sector specialists.
What are the differences between these two career paths? Which one is better /more conducive to being a good investor?
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I think this really depends on your personality type/you as a person. I don't think either is going to affect your income too much in the long run provided you aren't specializing in something that's going to die out.
There are advantages/disadvantages to both obviously but I think it's important to keep in mind that PE is increasingly about making real improvements to a business and it's hard(er) to do that unless you know the industry really well.
With that said, I've met some guys at funds who are "generalists" but if you talk to them...you'd think they spent a few years running a company in the industry you're talking about and I feel like they're some sort of magical fucking unicorn.
For me personally...I like to move fast, have an operating background, etc... so I'm specialized and focus on investment opportunities where the ability to be fast/know an industry comes in handy...which ended up being distressed situations + growth equity rounds where a company is trying to find enough scale/profitability to get to a Series A/B. (Desperate times = cheap assets)
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