Moving internally at MF
Hi monkeys
Hope you’re all doing well.
I’m currently about 2 months on the job as an associate at a MF (KKR/BX/TB) within the Product Strategy / Fundraising / Investor Relations team.
I would ideally like to move to the investing side as I find the most interesting part of my job being portco analysis (which there is not much of) or just browsing IC memos and models in my down time. it’s also super slow pace which is not a bad thing, but I’d like to be given a bit more responsibility and learn a greater volume.
I had completed a SA at a MF in PE but did not convert. Wondering if now that I’m a couple of years older, I could pitch myself internally to move across.
Any advice is most welcome.
Highly highly unlikely internally.
Can potentially go downstream via HSW mba
Let’s assume I wanted to try internal anyway - how would I go about it to maximise the odds?
Is it mostly networking or speaking with HR reps / my manager?
I would really not recommend it. Networking / speaking with your manager has nothing to do with it - the worlds are just too vast to cross. There is an actual 0% chance of this being successful so the best case scenario is that nothing happens (which will be the equivalent to your doing nothing) with the worst case scenario being someone getting offended / feeling like you don't want to be there and have it affect your employment
Would not view being at the same firm (my guess as to why you want to try going internal) as a plus here at all
Get reincarnated
Agree with above. Highly highly highly unlikely.
If you interned in proper PE investing seat, you never should have taken an IR role.
The idea of someone from my IR team moving to the investment team strikes me about as likely as someone from finance/accounting moving to the investment team.
Your best bet is to keep quiet about these ambitions internally (or will kill your career) and come up with well thought out investment themes/thesis. Lay them out in a 20-30 page deck, along with an actual action/plan strategy on how to source these opportunities and send them to senior people at other firms. Would start with shops you don’t want to work at, you may get some meetings, and will likely fail miserably at those follow-up convos — and can use those learnings for prime time aspirational roles.
Be careful to use ZERO content from your current role/firm. Make sure it’s completely bland formatting nothing like your current firms style guide (even though that’s what you’re trained to do). People may be sensitive to facilitating some sort of IP theft claim.
Look up what happened with the Apollo/Athene guy who had his former associate sending him models and marketing materials.
Not happening, and most especially not happening if you are at BX. I agree with above, talk to some HHs at roles at LMM/MM funds. Not sure what you were doing prior, but 2 months is far too early to be trying to move both internally and externally...
I would not jeopardize your role/standing by trying to move internally to a job you have no chance at, especially only 2 months in. They might be willing to do this for a superstar performer who has like 5 years tenure, absolutely no shot for a new hire.
MFs have ultra-qualified candidates who can plug in on day 1 lined up outside the door... there's just not room for someone whose only PE experience is a quick internship and you'd be far, far behind others in your class. Not trying to be harsh but this is just not a realistic or smart idea especially being so new, you're just going to piss off your current manager.
You have zero shot at moving internally from IR to the investing roles. In fact, the investing teams will laugh at you for even trying.
Never happening sorry. Investment team and IR skillset just don't mix. Combined with having previously gotten a shot at the MF PE role, failing to convert, then failing to secure an investment role at a fund downstream or going to IB just puts too many checks in the "against" column for any of the firms you listed to remotely consider you moving across barring one of the senior partners advocating for you (which they won't unless they're like a family friend, their internal political capital isn't worth the hassle).
See lengthier explanation here for someone debating going down a similar path - https://www.wallstreetoasis.com/forum/private-equity/ir-at-mf-or-pc-at-…
You 100% got CPG at KKR and are miserable…
At a MF and never seen this happen
If you did 2Y of banking beforehand, you might have a shot at some of the less desirable teams (ie FOF) or the asset manager corp dev / corp strat team at the investment manager. Basically will be next to impossible to move to a direct PE seat.
I understand. It just doesn’t make sense to me given I have the background and simply exited to IR thinking it would be optimal WLB wise. I’ve found it to be too slow and the work to be fairly mundane. What do you suggest I do from here?
But you don't have the background? You did a summer analyst role and didn't convert, that's a red flag already
Why don’t you just go to IB and then recruit for PE in 2 years? If you have references from the PE fund then they might make intros at their former bank. Moving straight into a MF PE analyst role is incredibly competitive and extremely unlikely. IB roles are much easier and you can spin a story.
I wouldn't mind doing this but I'm not sure how to navigate asking for intros etc - any tips are welcome.
And in general, I can't apply for grad roles anymore which cuts out the vast majority of IB recruitment in the current climate.
Reach out to your contacts/references from former PE fund and/or your college network. Tell them your situation and acknowledge the mistake of taking an IR role. Ask for their advice and if they could help make an intro.
If people in your network like you and empathize with your situation, they will want to help you.
Dude don't to MF PE. There's no shot you make it with your profile, those guys want someone from GS TMT, not a back office guy from their firm. Many many other things out there
This is the exact same person from this thread.
https://www.wallstreetoasis.com/forum/private-equity/ir-at-mf-or-pc-at-…
Both have identically described MF PE SA and in IR? Identical forum titles? This person just chose to chase prestige and turn down the advice of everyone in the previous thread to take the investment role, and now they are roleplaying as someone two years older to try and comfort themselves about their decision and ability to move over to the investing side.
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Can I PM for advice?
Yeah, sure, go ahead.
Hi. I actually moved from working at a placement agent (similar to IR) to an investing role. I’ve been in the investment role over 4 years now and have gone from associate to director, so it’s not completely impossible BUT:
I joined a LMM growth equity sector focused fund. I agree MF is a stretch
I moved from a big “finance” city to a smaller EU city
I did 2 years M&A at an elite boutique bank (before working for a placement agent), so I had transactional experience
I am a woman and speak multiple languages
I literally did financial modeling in my spare time to make sure I was as “good” technically as the other associates back then
I took a pretty huge pay cut
So my advice would be if you want to join an investment team to look elsewhere, join a much smaller fund (growth/VC slightly easier than buyout they tend to appreciate other profiles more), make sure you’re really strong technically, and potentially move to a smaller city.
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Use that effort instead to crush it in current role, make plenty of money and have a life. Maybe this path was the best one for a reason.
I hope your move works out OP, wishing you the best.
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