Intern at FoF - Looking to switch to buyout PE
Hello y'all
This summer, I was an intern at a private equity fund of funds. We do primary, secondary, and co-investments. This is my only internship experience, as I am graduating college early, and I did receive the return offer. I feel like this is a pretty good gig - ~$100k salary, 40-55 hours a week, low cost of living city, though I am not sure if I am interested in going back, as the work can be pretty boring and I don't love the people.
Realistically, would it be possible to land a position at a MM/LMM PE firm straight out of undergrad, or would I be better off staying at the FoF for a few years and going back for an MBA to transition into a buyout firm?
Sounds like an ideal gig to me. You already listed all the incredible benefits of your situation yourself, get it on your resume and then worry about this stuff would be my move.
Probably won’t have a chance getting to buyout from FoF unless you are modeling at your firm.
Unlikely as most of these places hire their own interns. MBA will not work - you'd want to do buyout PE pre-MBA as you need prior direct experience to land a post-MBA PE job.
This sounds like an awesome gig to me but I understand your concerns. I say give FT recruiting a shot but only until your offer expires. If you are at a target school this may be possible, or the second way is if you absolutely network your ass off and talk to all the LMM PE firms in your target area to see if they'd hire you. I wouldn't let this offer expire though, this market is not one you want to be playing around with not accepting a good FT offer, so you have a bit of a time limit with your recruiting.
Appreciate the reply. Would M&A/Growth strategy consulting be a better place to start? Any idea if that + MBA could get me to a buyout shop?
M&A is def a pathway to PE. Again even if you have BB IB experience you absolutely need buyout experience pre-MBA to have any shot at placing into it post-MBA.
The third option here is to recruit to PE-lite directly - credit, secondaries, FoF at larger firm
Just curious - what is the all-in comp for analysts/associates?
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