How does Deal Credit work?
Have heard talks about when senior folks leave a firm, they fight about what deal credit they can take with them. How does that work? Does LP call up the partner's old shop and say give me a list of the deals he/she get credit on?
Typically if a partner leaves to start their own fund, they have to get the blessing from their prior firm to receive attribution. It depends on the structure and size of the firm, but at most scaled shops, partners will essentially be controlling their own fiefdoms so it’s more black and white. So unless you work at a Platinum or Golden Gate, which are notorious for not ever providing this, you should be able to list the deals as your own along with the associated marks. At smaller firms, where everyone is involved in each IC and there may be partner overlap on the deal or even just generally a strategy, things can get trickier.
Thank you. How is this enforced? Are there clauses in the employment contracts that say you shall not list your deals with LPs unless you get blessings from the employer?
People list their deals on their resumes on the time (at least at the junior to mid levels).
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