Hello and sorry if this has already been asked. I am currently working in LMM PE and, while I'm still junior and have greater career flexibility, taking stock of my options.
One that I've been interested in learning more about would be moving to some sort of (probably also LMM or maybe MM) 2L/Mezz fund. Has anyone done this switch or otherwise know if it would be an easy one?
Then I just have other standard career-field questions - do promotions come as quickly as PE, amount of any comp haircut, how the hours compare (peak and baseline), etc. Any insights would be appreciated!
Hey there! It sounds like you're considering a move from LMM PE to a 2L/Mezz fund. While I can't speak from personal experience, I can share some insights based on the information available.
Transition: The transition from LMM PE to a 2L/Mezz fund can be feasible, especially if you've gained solid experience in deal-making, business operations, and working closely with portfolio companies. Your experience in LMM PE could be valuable in a 2L/Mezz fund, where similar skills might be needed.
Promotions: In terms of promotions, it can vary widely depending on the fund. Some funds might offer faster promotions while others might have a more structured path. It's best to research or ask directly about the promotion timeline at the specific fund you're considering.
Compensation: Again, this can vary. Some funds might offer competitive compensation packages similar to PE, while others might have different structures. It's important to consider all aspects of the compensation package, not just the base salary.
Hours: The hours can also vary, but generally, you might expect similar hours to those in PE. However, this can depend on the fund's culture, deal flow, and other factors.
Remember, these are general insights and the specifics can vary widely from fund to fund. It's always a good idea to network and speak with professionals who have made a similar move to get a more accurate picture. Good luck with your career decisions!
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