IB Experience Required to do a PE job (When you didnt have a meaningful IB stint)
Hello all,
The summary question is basically, how important is it to have had solid IB experience (buy-sides, sell-sides, going through deep due diligence, etc.) once you're in a PE seat. I'm at a less intense LMM PE shop right now but in banking I was in a coverage group that outsourced the M&A to the M&A team (diligence, modeling, etc.) so I basically wrote CIMs and nonsense industry pitch decks for a few years.
I got to my current role by recruiting to a 2nd / 3rd tier city and going absolutely HAM on my case studies / I have a unique story perhaps. Been here for a few months and haven't had a live deal hit yet, just throwing IOIs out there that don't stick, so am wondering once one hits, how tough would it be to go through an extensive diligence / modeling process when I literally have never seriously gone through one before? Other associates were presumably deeply involved in modeling, diligence, that sort of stuff before they got here.
Thank you in advance.
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