Leaving PE - Can I talk about current fund performance?
Hey folks. I’m an associate at a reputable PE firm and I’ve been given the opportunity to stay another year. The firm pays below market cash but offers some carry even at the junior level. I’m pretty bearish on the industry as a whole and my firm is no exception. The path to partner (if I even make it that far) is looking like a 12+ year grind given how stretched out promotions have become. There’s also a ton of bloat at the top and mid level that I don’t see leaving. Even if I did somehow moved through the ranks, I’m not confident the carry will pay out even close to what is being sold to me + it will take roughly a decade to see those checks (we haven’t even hit hurdle on one of our funds from early 2010s).
I’m thinking of recruiting and wonder how much of this I can explain in an interview. The honest truth is our portfolio is not doing well but I worry I’ll burn bridges if I start mentioning externally. It’s also the main reason I want to exit the industry so I’m wondering how others have played this.
*TLDR: how much of current PE firm performance, compensation and career trajectory can you mention in interviews?*
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