Lateraling Once Already in Private Equity

Hi All,

I've seen a lot of discussions about lateraling once in banking, recruiting for private equity from banking, and the "to get an MBA / not get an MBA" discussion after you get into PE, but I haven't found too many good discussions on this topic.

I am in private equity at a reputable UMM currently and wrapping up my first year as an Associate. The 95% case norm is that you go and get your MBA to continue at the firm as a VP+; I don't really want to do this.

Should I network the same way I networked as an undergrad to lateral to another PE firm that doesn't require an MBA? How do I lateral successfully? Do I use headhunters or network? I am planning on lateraling as a Senior Associate so that, at worst, I would only have to do the Senior Associate year over again.

Thanks in advance for any insights.