I understand that WSO has no love for FOF. But I already have 2 years of FT ER experience + MM IB experience and realized I like finance but want to have a good wlb while still being able to make great money.
How is PE FOF for these kind of careers? Is it suffering the same fate as active (equity) Management e.g. LO-onlys?
I understand work is more qualitive with less heavy (but still some) modelling. But this exactly what I want, is it a bad idea to pursue FOF PE at a MM fund if I want to make this a long-term thing?
The FOF model is pretty broken. The margins on doing primary investments in funds are very very low. They have to make their money on direct co-investments and secondaries. And FOF is probably has better WLB but I am not sure how much.
If you want to go on the LP side focus on endowments and pension funds....
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