Hi there -
I spent the last 4 years in IB and PE and am contemplating my next step.
There is the opportunity to join an exciting long-only HF with ~$1bn in AuM or a more established mid-market PE platform.
What would you pick? Do I forgo any optionality with picking the HF?
I did some public work in my prior role and really enjoyed it.
Ah, the classic crossroads, my friend! It's like choosing between a banana and an apple - both are great, but it depends on your taste.
If you enjoyed the public work in your previous role, the long-only hedge fund could be a great fit. It's a smaller fund, which could mean more hands-on experience and potentially a broader range of responsibilities. Plus, you might find the public markets more dynamic and fast-paced.
On the other hand, the mid-market PE platform is more established. This could mean more stability and a potentially larger network to tap into. If you're interested in deep dives into companies and industries, and working closely with management teams to drive value, this could be the way to go.
As for optionality, it's not so much about the path you choose, but the skills and experiences you gain along the way. Both paths offer valuable experiences that can be leveraged in different ways down the road.
Remember, there's no one-size-fits-all answer here. It's about what aligns with your interests, skills, and long-term career goals. So, take a moment, maybe grab a banana or an apple, and ponder over what you really want. Good luck!
Sources: Private Equity vs Venture Capital - Differences and Similarities, Traditional Private Equity vs. Special Situations Investing, Difference between late stage VC and growth equity
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