Recently promoted Associate in a BB. I don't think buyout PE will be a good fit for me (i am tired of reading through materials and building models, with banking hours).
I am looking at alternative opportunities but I don't know many funds that have great comp for FoF.
Any ideas where to look?
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Based on the most helpful WSO content, Fund of Funds (FoF) roles can be a good alternative if you're looking to step away from the intense modeling and hours of traditional buyout PE. While FoF roles are often looked down upon due to the "double layer of fees" and perceived lack of direct investing, they can still offer solid career paths, especially if you're genuinely interested in the space.
For London-based opportunities, here are some suggestions:
Top FoF Firms: Look into well-regarded FoF players like HarbourVest, Pantheon, Adams Street Partners, and Partners Group. These firms often have a strong presence in London and offer exposure to primary fund investments, secondaries, and co-investments.
Compensation: While FoF comp may not match direct PE roles, some firms offer competitive packages. For example, a FoF Associate in the UK might expect a base around £75k with bonuses that vary depending on the firm's performance. Carry is less common unless you're at a senior level.
Focus Areas: Consider firms that provide exposure to co-investments or secondaries, as these roles often involve more direct deal experience and can be more lucrative.
Networking: Leverage your BB network to connect with professionals in the FoF space. Many FoF firms value candidates with strong banking backgrounds, especially those with experience in financial modeling and due diligence.
Recruiters: Reach out to specialized recruiters in London who focus on asset management and private equity roles. They can help identify FoF opportunities that align with your background and career goals.
If you're looking for more insights, you might find this thread helpful: https://www.wallstreetoasis.com/forum/investment-banking/breakdown-of-p…</a">Breakdown of Post-IB Exit Opportunities.
Sources: Why Are Fund of Funds looked down upon?, Associate in Private Equity FoF - will answer questions, Why is fund of funds a thing, Breakdown of Post-IB Exit Opportunities, Private equity comp in London?
Following. Heard that FoF was often paying quite well (aka more than VC/Growth) but don't know which ones
D
GIC is currently running a process for this role in London.
is the process live? if so, how far are they in the process?
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