GP vs LP for junior
I feel like my current job is not what I want & doesn't meet my long-term goal. My long-term goal is to relocate to other major cities (LDN/ NYC/ SG/ HK), and my current job provides little room for growth:As a commercial bank subsidiary, regional mid-market would be the sole focus. (I am not a native speaker, which give more obstacles for career development)I prefer the work at LP to make investment decisions on funds instead of other companies, and this experience would be transferable worldwide.The PE industry is becoming more specialized, it's no longer a relationship-based ex-banker world but for people who got talent (At least for the junior level)... Since most of the GP funds are now specialized in specific sectors and only looking for people with a PHD in a particular field who have a clue about the portfolio company.Nevertheless, the compensation level would outweigh (Not by much) my personal concern/ interest. Would it be wise for me to apply for SWF/ Pension fund for their LP team as an analyst, or should I stick with the current role and try to lateral to the LP side for the associate/ VP role?
BUMP
Bump
If you want to be an LP, you should go be an LP, particularly if you want to focus on investing in funds. Why wait? The longer you hold off, the more ammunition you give a hiring manager to look at your resume and say "but this is an experienced role and you don't have any experience doing manager selection."
As a side note, I disagree with your point #3. While yes, the industry is getting more specialized, I don't know anyone who's looking to hire a PhD in a specialized field. Deal people are still deal people and you don't learn that by getting a doctorate. Where there is more emphasis is on the operational side, but you get hired there by either being a former consultant or having a degree from the School of Hard Knocks, not a PhD.
Thanks!
So you are saying that the experience on the GP side would not add value to the LP’s senior position application?
About #3, I might have overstretched it. However, it seems like the generic PE is getting less capital to flow in..
In the long run, PE could train the commercial/ operational (it's not rocket science) but not the technical part... Hence I feel like my personal career growth might be limited
If I was looking at two resumes for a mid-level LP role and one of them had previous LP experience and the other had previous GP experience, I'd choose the one with previous LP experience (all other factors being equal). The GP experience is nice but it's a fundamentally different job.
Could you maybe talk about why someone would actually choose to be a career LP. It seems deals are more hands on/interesting on the GP side and comp higher.
Great WLB and comp that's excellent when you compare it to what most people in the U.S. get paid.
Also, the investments that you're doing are just different. GPs are very deal-driven and in the weeds on portfolio companies, focusing on their particular investment strategy and corner of the market. LPs are thinking about all markets and the macro environment and many of them are generalists as opposed to asset class specialists (let alone industry specialists). It's a totally different point of view on finance that appeals to a different personality.
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