Lateral associate from NYC —> London

Based on the most helpful WSO content, here’s what you need to know about your situation:

1. Reaching Out to Headhunters (HHs):

   • In London, it is typical to reach out to headhunters directly via email. You don’t necessarily need a referral to connect with them. Some of the top headhunters for PE in London include KEA, Walker Hamill, Blackwood, PER, and Dartmouth (though Dartmouth is more IB-focused). Other notable names include Nordbridge Group, One Search, and Selby Jennings.
   • Timing is key. Many professionals in London make contact with headhunters towards the end of their first year or early in their second year. Since you’re already a 2nd-year associate, reaching out now is appropriate.

2. Visa Sponsorship Challenges:

   • The UK PE market is currently facing challenges due to broader economic issues, which may impact firms’ willingness to sponsor visas. However, larger megafunds (e.g., Blackstone, Carlyle) and very international PE firms are often more open to sponsoring candidates, even on short-term visas like the HPI.
   • Smaller firms may be more hesitant to take on the risk of sponsorship, especially given the current market conditions. Having a STEM OPT or similar background can sometimes help, but it’s not a guarantee.

3. PE Market Conditions in London:

   • The London PE recruiting market is more ad-hoc and unstructured compared to the US. Firms hire as needed rather than following a strict on-cycle/off-cycle schedule. This means processes can vary significantly in duration and timing.
   • While the market is experiencing some turbulence, there are still opportunities, especially in growth equity, secondaries, and co-investment roles. These areas might be less impacted by the broader market issues compared to traditional buyout funds.

4. Additional Considerations:

   • Highlight your current experience and skills when speaking with headhunters, especially if you’re open to PE-adjacent roles like secondaries or co-investments. Be clear about your interest in London and your willingness to adapt to the market.
   • Be prepared to answer questions about why you’re leaving your current fund and what your long-term goals are, especially since your fund’s performance might raise concerns.

If you’re serious about making the move, start by reaching out to the headhunters mentioned above and be transparent about your visa situation. Good luck with your transition!

Sources: PE Lateral Recruiting Advice/Stories/Help?, From Private Equity Associate to VP in Private Equity, https://www.wallstreetoasis.com/forum/private-equity/pe-recruiting-in-london?customgpt=1, Is H1-B required for Private Equity Recruiting (on-cycle), 20 Most Frequently Asked Questions - London Edition