At my middlemarket firm on the west coast, the deal team is required to complete a re-forecasted budget through the rest of the year for our portfolio companies. It’s really time consuming. Additionally, we send updates and scorecards for portfolio companies each week. Most of our time is spent on portfolio support.
Is this normal at a small firm? How is a typical associate’s time allocated?
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It was pretty normal at my MM fund. Associates were assigned two portfolio companies that you'd get very involved with. Probably 40/60 portfolio work vs. new deals. Mileage may vary, I'd guess.
Weekly sounds excessive. How small are we talking? You trying to replace mgmt…?
We’re expected to augment portco SG&A
I will say that it’s hard to focus on new deals because there are always urgent portfolio company tasks we have to do.
Same here. Have been trying to lateral since week 1. So I got weird looks during my rounds being one month in but nobody cared. I'm handing in my notice next week probably as have now something better lined up. I mean a bigger fund.
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