Mix of sourcing and traditional PE shops?

Based on the most helpful WSO content, here are some insights and recommendations for targeting a future firm that offers a mix of both sourcing and due diligence/investing work responsibilities:

1. Sourcing and Execution Balance:

   • PE Deal Sourcing Comp / Lifestyle: Some firms have a career track role from analyst to partner that includes sourcing. These roles require a strong sales skillset and offer more autonomy and flexibility. However, the hours can be long, and the compensation is often tied to deals closed and dollars committed.
   • Breaking into Private Equity from Banking: It's suggested to pursue PE shops with a sourcing model only after you've exhausted the shops that give you more traditional execution responsibilities. This is because sourcing can be challenging and may not always lead to closed transactions.

2. Firms with a Mix of Responsibilities:

   • Summit Partners and TA Associates are mentioned in the context of sourcing roles. These firms might offer a blend of sourcing and execution responsibilities.
   • THL, H&F, Advent, Leonard Green, CD&R, Berkshire, General Atlantic, MDP, Kelso, Centerbridge, Providence, First Reserve (energy focus), New Mountain, and GTCR are top PE shops outside of the mega-funds that might offer diverse roles, including a mix of sourcing and traditional PE responsibilities.

3. Career Path and Skills:

   • PE Deal Sourcing Comp / Lifestyle: If you excel at sourcing and have strong sales skills, you might find a good fit in firms that value these abilities and offer a clear career path from analyst to partner.
   • How to Spend the Next Year in IB to Prepare for PE: Building relationships with bankers and developing investment thinking can be valuable. This can help you leverage your sourcing skills while also contributing to the investment process.

4. Considerations:

   • PE long-term attractivity: The industry is becoming more commoditized, and there is pressure for diverse hires. This might influence the type of roles and responsibilities available at different firms.
   • Startup PE Shop - Self Funded: If you have a chance to join a startup PE shop with principals you trust and a clear track record, it might offer a unique opportunity to blend sourcing and execution responsibilities.

For more detailed discussions and insights, you can refer to the following WSO threads: - https://www.wallstreetoasis.com/forum/investment-banking/breaking-into-…</a">Breaking into Private Equity from Banking - https://www.wallstreetoasis.com/forum/investment-banking/pe-deal-sourci…</a">PE Deal Sourcing Comp / Lifestyle

These resources should help you identify firms that align with your career goals and offer a mix of sourcing and traditional PE responsibilities.

Sources: PE Deal Sourcing Comp / Lifestyle, https://www.wallstreetoasis.com/forum/investment-banking/breaking-into-private-equity-from-banking?customgpt=1, Startup PE Shop - Self Funded, Breaking into Private Equity from Banking, HF to PE post-MBA - my story and seeking advice (long-time poster)!