I’m a mid-level (ignore title). Joining another fund that plays in a similar space as my current fund. I plan to put in my two weeks. Any thoughts on what I should expect?
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Garden leave would be in your current contract.
There's no upside to telling them the name, and most people won't push for it anyway. It's fine to say you're going to another firm in PE and leave it there.
I lateraled at the midlevel. Generally your old firm will attempt to get you to sign a Release & Seperation Agreement. Recommend negotiating in clauses that say that they waive the fact that you are "competing" as a reason to take away your vested carry. May also want to clearly define how much carry has vested in the document. If you approach it in good faith they should play ball, but may be case by case.
Even when things are amicable? Also, how much garden leave did you get prior to joining your other fund?
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