London Version: PE Check-in on Attrition, Promotions and State of Play
Hey all,
Have seen a lot of threads here about the lack of promotion, non-performing portcos, carry, saturation, fundraising difficulties and attrition at mid-levels in PE with bunch of people seeking to leave PE for a return to banking or different roles altogether. It seems a lot of this feeling is concentrated in the US - how is the London market holding up specifically regarding the above points?
The below threads paint a very sobering picture in all honesty.
Some relevant threads for context (most of these are from within last 12 months):
https://www.wallstreetoasis.com/forum/private-equity/future-of-pe
https://www.wallstreetoasis.com/forum/private-equity/do-you-regret-doing-pe
https://www.wallstreetoasis.com/forum/private-equity/mid-level-attrition
https://www.wallstreetoasis.com/forum/private-equity/mid-level-career-freeze
https://www.wallstreetoasis.com/forum/private-equity/overall-pe-vibe-check
https://www.wallstreetoasis.com/forum/job-search/why-even-switch-from-ib-to-pe
https://www.wallstreetoasis.com/forum/private-equity/unemployed-ex-pe-associates
https://www.wallstreetoasis.com/forum/private-equity/to-all-associates-coming-up-on-the-2-year-mark-how-bad-is-it-to-have-no-deals
https://www.wallstreetoasis.com/forum/private-equity/quitting-as-mid-level-with-nothing-lined-up
Bruv, we're fucked
Generally the same picture except you’re dealing with European fund waterfalls which means carry is even more delayed.
Aren't most US funds now switching to European waterfalls as well driven by LP pressure?
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