MF vs. Up and coming fund

Thinking of joining an up and coming fund in NYC that has been doing very well and expanding but which is still rather small ($5bn) compared to other mega funds such as KKR, Advent, Bain Capital, etc. Can someone please highlight pros and cons of this type of choice ? I really liked the people I met throughout the process but have doubts about future compensation, exits if I want to switch careers one day, business school placement etc.

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All depends on your LT goals:

If you want to leave PE after 2-3 years, the MF route may be a solid option. World-class brand name where you’ll learn from the best, and folks know you’ve been through the ringer, can work hard, and are detail-oriented. 
 

If you see PE as a long term career, a chance to rise through the ranks and earn slices of carry at a growing fund seems like a no brainer. Sure, it may be “risky” (it’s really not in grand scheme of things), but very few people hit it big taking a cookie cutter path - ie, joining a 25+ year old mega fund that has churned out hundreds of associates through the years. 
 

Just my two cents. Best of luck!

 

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