LMM PE B School prospects
Accepted an offer last year at an LMM PE firm (~$900 million latest fund) with a 2 year program, and was curious about b school prospects. The firm is well-regarded within its industry focus, but wanted some insight on B School prospects for PE associates at smaller shops. For context, come from target school background and work in a well regarded group (GS TMT / MS M&A). Is H / S / W still possible if you’re not coming from MF / UMM? I know PE applicants are in one of the most competitive buckets when it comes to admissions so would appreciate any insight.
Why did you go GS TMT / MS M&A to LMM PE? (I personally don't care but your adcom will want to know)
You will need highly above average recs and essays, and an unusual and compelling extracurricular experience (ideally fueling your essay more than a resume line item) will be your ticket.
Thank you for the insight. Recruited and signed very early in my banking career and the firm is well known within its sector focus so thought it would be a good fit. Appreciate the advice.
What have the other Associates done in the past? Have they all gone to HSW? Have you talked to any of the current/past Associates on the exit options?
I feel like the selling point of most LMM/MM funds is that you aren't 2 and outed. At UMM and MF the selling point is, you will be two and outed, but you'll most likely get into H/S or the brand/experience is so strong you'll have no trouble finding a Senior Associate role at a smaller fund.
If you firm has a relationship with H/S/W and has sent people there in the past, I'd think your chances are as good as anyone elses. If most Associates don't go to B school and there's no record of B school placement, I'd say chances are very slim at H/S, ok at W, and good at the rest of the M7, assuming an otherwise good profile and strong execution.
I ran through the numbers on another post the other day regarding PE --> GSB, ~20% of the class is coming from PE. So there are maybe 80 slots for PE/VC/Investment Management. Even assuming a slightly higher weight for the PE side, there are maybe 40 slots. Now think of all the MF and UMM funds that GSB are going to have to take a few kids from. Maybe they take a handful of non brand name PE/VC shops. You basically need to be one of those folks.
Appreciate the insight. Firm seems to have had a relatively strong pipeline to GSB (4-5 associates have exited there in the past, last instance being a couple years ago) but in more recent years, looks like lateraling to a diff MM PE firm or exiting to industry are more common routes. Does it make a difference / prove an advantage if current upper management are from H / S / W? Heavy presence from all three schools but these individuals all came to the firm post-MBA and have had previous MF experience.
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