Exactly as the question states - did some googling and couldn't really find anything.
BX has positions for principal, and I'm not sure where that stands within the company structure.
Non-asshole answers would be greatly appreciated.
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While org structures can vary slightly, Principal is typically the position between Vice President and Managing Director.
At some firms it's a non-equity "partner", it's a senior role and a principal is a senior PE executive.
Count their money. You may be unfamiliar with it but the industry term is: "Sachs on Stacks"
Like others said, its a position in between VP and Partner (generally). Usually you have responsibility for deals, everything from sourcing to closing. You usually have signatory authority for small things like NDAs. However you probably have a partner helping / looking over your shoulder during critical parts of the deal.
At my firm deals are staffed with a MD, Principal, VP and Associate. MD is the face guy Principal is the deal quarterback and is largely responsible for its success/failure. Will take a board seat with the MD on the company. Usually in this position for at least one entire deal life cycle (investment through successful liquidity event) VP/Associate are the work horses
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