LP Co-Invest Role
Does anyone know the typical comp trajectory for someone working in the co-invest team at an LP let's say from the VP level and up? Where does the comp cap out?
I imagine it's less than direct PE but have had trouble finding data points.
For anyone in the industry, how do you like the role / what are the pros / cons?
It's going to range quite a bit based on size + fee structure (FoF vs. pension/insurance co/etc.). As a data point for VP1, have heard total cash comp in the ~$400K range (Tier 1 city). Carry is much harder to pinpoint given different fee structures as mentioned. I would say generally, total trajectory at a large LP is probably similar to LMM/MM comp trajectory based on the few data points I've seen.
Pros: you still get to diligence a variety of businesses / industries but have better WLB (usually), and you can have a very sustainable, comfortable lifestyle comp-wise
Cons: you're one layer removed from direct diligence and mgmt, so not really in the drivers seat. A lot of the work is really just sense checking what the GP is doing vs. drawing your own conclusions, and in that sense, it's a bit more boring. You're probably also never going to hit those massive carry paydays like you can on the GP side
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