How Do I Lateral Funds?
Hi WSO,
I am currently a ~1.5 year analyst at a Private Equity fund in Texas (previously spent 6 months as an intern earning full time consideration.) We unfortunately have a cantankerous and toxic culture... The bulk of this stems from the fund experiencing some lean years and that much of our workdays are spent on struggling portcos. Currently I feel I have a strong skillset (at least more so than our associates) and love the work and would like to move to a fund with a great culture where I can continue to grow.
Key Personnel Dynamics: We have three associates who we recruited from Investment banking who all joined shortly after I became full time. My time as an intern was filled with hair-raising tests that have set an undesirable precedent for my current role. The fund I work at is anticipating 3 big exits next year and intends to bring on several new juniors at that time. I feel pretty confident that the seniors would be comfortable having me wait around until these exits happen before I'm promoted for financial and optic reasons with the other juniors.
Recruiters: CP, SG, S1, and Odyssey. I was the one who reached out to all three save SG who admitted they only contacted me because they believed I was an associate.
The conversations I felt were very positive.
Discussed Deals I worked on and operational initiatives I was a part of - Gave them some city preferences but expressed a general geographic agnosticism - Discussed a preference for PE or Private Credit
Its been roughly 2.5 months since connecting with CP and S1 and I have not had many bites on there mandates.
Am I approaching this wrong or being myopic about some red flags other funds might see? How exactly should I be thinking about lateraling and what kinds of things can I do to put myself out there? Am I being arrogant about anything obvious?
Thanks guys!
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