Lateral - take infra now or hold out for buyout later?
UMM buyout ASO 2 / ASO 3 here who's deep in the lateral market / def not going to b-school. Good reviews, etc. but home firm has pretty strict MBA culture so I'll be getting pushed out end of this summer, firm really supportive of lateral process so far. Pretty dry market, but recently started to get looks from infra funds. My druthers are to go to "regular" buyout PE but I can't say I have no interest in infra or that it doesn't seem like a growth-y area (and I heard comp is basically on par at junior levels?). My only question is, if I go far in this process and even end up taking an offer, am I a) foreclosed from taking a "normal" PE job forever bc I've shoehorned myself or b) would it still be possible to move back to "trad" PE (in idk industrials / energy / even services) whence I came?
very very hard to return to regular especially at the VP+ levels. there are some firms that take a "corporate PE" approach to infra and invest in fake-infra service businesses that you might be able to swing a story around, but otherwise if you are doing asset deals then just be at peace staying in infra.
I would note that the entire asset class is a bit confused right now on pricing with this rate environment, where you had things go for as low as 3-4% cap rate. Nothing really pencils yet and deal flow is non existent.
How much do you think this reality changes if you go for your MBA after 2 years in infra? Would it be easier to go to a more "traditional" buyout firm afterwards?
Nope :). Similar challenges. You will be seen as "non-traditional".
Don’t necessarily think you‘ll be pigeonholed. Know of a couple of people who successfully lateraled from infra to MF buyout after deciding they wanted to go the more “traditional” route/shop. The high degree of complexity of infra deals, both from a modeling perspective and structuring perspective, seems to be well respected and received in instances where there is some industry overlap (industrials/energy/energy transition/real assets). Furthermore, if you do go the infra route and end up enjoying it, you don’t really have to worry about going to b-school as MBAs are becoming generally more and more rare in infra.
Dolorem eum ad recusandae pariatur rerum omnis corporis molestiae. Molestias suscipit et dolor quod odio molestiae accusamus. Officia vero et enim et. Ut similique ex id ab maiores rerum ut quam. Fugit cum quia natus earum quia quia accusamus.
Doloribus ratione voluptas voluptatem beatae. Doloremque assumenda nesciunt et ipsum quasi autem. Perspiciatis eius et dolores totam ut eum. Ab id omnis magnam voluptatibus nostrum odit sunt. Consequatur praesentium autem unde quidem. Quis laboriosam laudantium similique id ea omnis. Veritatis quia dolores ea.
Et excepturi quia fugiat et ad ut quis. Ipsa accusamus pariatur nisi harum qui illum modi. A eum dolorum beatae dolorum rem est sapiente. Vero qui nobis unde dolore quia.
Maxime tenetur non id. Similique ut libero et sed. Accusantium vel et explicabo aut soluta alias voluptatem nemo. Repudiandae nemo rerum quibusdam rerum aut. Dolores ea sunt praesentium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...