How pigeonholed are you in a PE industry group?

It looks like a lot of the larger PE funds (MF and UMM) place you in a specific industry group rather than being generalist and it looks like a lot of the MM funds are either industry specific or are technically generalist but only operate in a few industries. How trapped are you in that specific industry for the rest of your PE career? If you do TMT PE pre-MBA or you stuck with only TMT roles post-MBA? If you try and lateral is it the same? I'd imagine a partner would be pretty stuck, but more along the lines of pre- and post-MBA associate roles as well as VP to what extent is that true?

 

I don't think you will be limited as long as you have a good reason if you are talking about traditional LBOs. I moved from SaaS to a generalist role.

At the late stage/buyouts, the financial modeling is similar with some variations, and usually at a junior level if you can show that you can learn then you shouldn't worry. I have seen some people move from SaaS to healthcare as HC is becoming more tech-oriented. I have seen people move from industrial / business services to SaaS and from oil and gas to insurance/fin services.

Ofc, it's good to have industry expertise around regulations and such but at junior to mid-level they want you to grind on the models and write memos. 

 

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