PE Biz Dev Senior Leader Comp
Good people, if you’re a PE Biz Dev senior leader please share your comp and details
Fund Type (LMM, MM, MF):
Location:
Base: $
Bonus: $
Total Comp: $
Carry DAW: $ Most Recent Fund
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bump
Would love to see real data points above VP. Following.
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Fund Type: LMM
Location: Bay Area
Total Cash Comp: $400k
Carry DAW: $2.5M
Is this Head of BD / MD level? Seems light even for the LMM.
Hi title is VP so would assume that's what it's for. With that in mind this seems pretty solidly in the mid-to-upper end of the range for LMM without knowing the fund size.
Yes. What specific data points do you have that point to that being light?
Braddock Matthews and Coastal Partners put out comprehensive comp reports for BD.
I guess it depends on how we define LMM here; idk if that’s for a 150mm fund or 750mm fund. But I know people in NY (so similar CoL) making that a title or two below MD.
Bump
Not to hijack this thread but how do you guys see this business function developing in the future? Are we going to see more and more funds operate with a BD team? Pretty sure it's mainly LMM and MM now.
There are BD teams all across LMM/MM/UMM. Even some MF teams do (eg Apollo hybrid value).
Also Vista
I think It'll become more common and start being a real function funds invest in. There's such a proliferation of both funds and advisory shops at the LMM/MM side of things it literally becomes a full-time job trying to manage all those relationships. Not to mention a "proprietary sourcing engine" is a differentiator you can market on to LPs in a world where competition for allocations is only getting higher and the barriers separating firm performance are dissolving.
Even at the MF level, partners will shit themselves with joy if they can find their way into a 1-on-1 process with high quality target. It's the bidding wars on banked processes that in part has been driving down returns - can't forget that the most important variable & the ONLY one you have 100% control over in PE is the price you're paying (or are willing to walk away over) for an asset.
Correct, but this started ~10+ years ago though, already is a "real function that firms invest in" and is near fully baked in the LMM/MM at this point.
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