PE geography important?

Does geography necessarily make a difference when comparing funds (assuming you're location agnostic towards both), as it regards to connections or mobility down the road. For example if you were looking at two funds with similar strategies and more or less similar fund sizes (500m vs 750m) in Chicago and NY, does it always make more sense to go with the NYC fund? This is again assuming you have no preference towards either city and care more about culture of the firm and sector. Would the answer be different if you were looking at something like Minneapolis vs NYC/CHI?

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