Laid off 2Y PE Associate: Take the FO offer or continue recruiting?
Background: M7 MBA, Target Undergrad. 4 years MM IB, 1.5 years LMM PE firm.
Situation: 2024 was a productive year for me. I closed a new platform, a portco refi, and several add-ons. In January, I decided I would start looking elsewhere because I was unhappy at my firm - tough hours given I was the sole junior on four active portco's, weak office culture, and below market comp.
Unfortunately my firm got wind that I was interviewing and let me go at the beginning of April. I’ve received an offer from a family office that is raising its first dedicated fund, but the role is not my first choice because junior churn has historically been high and given fundraising market conditions, I'm concerned that as an emerging manager the raise may be unsuccessful or fall short of its target. I'd burn a year without deals and find myself rerecruiting in a worse position.
I'm still in process with a few other LMM private equity firms but am unsure if I should accept this offer or continue recruiting. Now that I'm laid off, I think I will have a tougher time finding attractive opportunities, especially since I'm older and already have my MBA.
Has anyone successfully navigated a similar situation? If you were in my shoes, would you take the offer or continue testing the market in hopes for a better opportunity?
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