How easy is it to transfer from a place like PIMCO to private equity?
If I am focused on credit at PIMCO but ultimately want to pivot to private equity, will it be difficult?
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Depends. Do you have prior IB experience? Is this private or public? What was the investment experience you developed there?
I have prior IB experience in Debt Capital Markets, and my focus at PIMCO is leveraged loans investing
My 2 cents.
No chance at SrASO, so let’s talk ASO, and note that it might be a step back and down in pay.
This will be hard. Not insanely hard - you can do it.
But the market right now is bad. And you are not the easy putt candidate.
I have no doubt you can do the job. And depending on the rest of your resume, most people won’t either.
But someone with equity experience is just an easier putt. However, I think you will be able to find something decent to good in buyouts. It definitely won’t be at an elite shop, but you probably already know that. Unless you look at some of the more cross cap stack guys maybe? Like a bx tacopps, Cerberus, Apollo hybrid value, WP capital solutions, etc. I know much less ab that side of the house
Why leaving your seat for PE? Your seat sounds great.
I’m leaving my seat for PE because I don’t want to focus on credit anymore. I want to focus on private equity going forward. Would I be an easier sell for PE associate roles in London? I heard they are less choosy? But not sure
Not sure where you heard that but definitely wrong. Very few seats in the industry in London relative to the US and arguably more strongly gatekept by headhunters who rarely spend time looking outside top BB/EBs. Additionally, at most larger funds, having a fluent European language(s) is often a requirement or at least strongly prioritized.
Difficult, probably not worth it, especially with only DCM prior experience. You don't have any M&A skillset and that takes a LOT of reps to learn, not realistic to pick it up quickly enough for vanilla PE to be interested. I'd say only doable at LMM shops, potentially in T2 cities, especially if they are more flexible with debt/equity investments and you could work on both.
I would focus on credit exits, or if you don't like credit more corporate type jobs would be an option too
Would I have a better chance at PE associate roles outside the US?
Doubtful unless you have ties somewhere... an American trying to break into PE is pretty likely to bounce in 2-3 years, they can hire someone locally with no hassle and probably more of a long-term play
If you want PE you probably need to go back to IB, either M&A or coverage
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