Opportunity at MM PE Group - questions/advice

Hi All,

I am looking for some advice from the community for my current situation. For background, I recently transferred to a Big4 transaction services group focused on financial DD. A few weeks ago I was contacted about an opportunity with a fairly new private equity group. They focus primarily on the middle market and are industry agnostic. They are also a little atypical in that they don't raise a fund but instead raise capital for each specific investment. The role seems to be a "little bit of everything": deal sourcing, modeling, investor relations, port co analysis etc.

That said, I got to the second round of interviews and I thought the conversation went really well. I'm really excited about the potential opportunity given that this is why I started to move my career toward M&A. However, the position would require me to take a base pay cut. They are offering carry and a bonus on closed deals.

I am looking for any comments/advice/insults on:

1. Understanding that most MM PE groups are fairly small, is the experience working in such an environment still highly valued as compared to mega funds etc?
2. What career possibilities could a position like this lead to in the future, if I didn't stay to make MD at the firm?
3. How should I think about/evaluate the compensation package given some of the uncertainty around carry/bonus structure etc.
4. Any advice on questions to ask to better evaluate the role would be helpful as well