Wondering what net worth is common among PE bros who have stayed in the industry until late 30s / 40.
I left PE around age 30 and now a PM at a HF. Late 30s now with NW ~$20m (probably will be $25-30m by age 40). Did pretty well I think but no mega year so far. Curious how someone my age would have fared in PE with carry checks now rolling in.
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If you’re a partner at Tiger PE, APO, KKR, or H&F, 80-100mm+
You’re so off it’s not even funny. I did PE at one of those. The VPs / Principals I worked for are now almost 40 they’re maybe worth a 10th of that today. So far off you guys have no idea how this world actually work it’s insane
At age 40? Thought that’s more an age 50 target
Would imagine similar in theory (based on carry marked at 2x) but you are probably higher adjusted for liquidity
Bump
Age: 37
Company: APO/APO/APO
YOE: 32
Net Worth (not including inheritance): $1.8bn
No exact figure but one Partner at $3-5bn fund (he cofounded it as jr partner) told me "PE is not a get quick scheme, if you don't love it do something else because you'll probably make more. Carry will take a lot longer to materialize, your coinvest is going to take a lot longer to get back and returns will be a lot worse than you think"
This is 100% right - PE is a get cash rich in your 50’s industry (excluding ZIRP era distortions), and pay your dues in your 30’s and 40’s. If you’re going to spend effectively your best and most productive years working 60-90 hours per week, you really should enjoy most of the job.
My guess at 40 if you've been in PE for 12 to 15 years and are a junior partner, you should have between $4M to $10M NW excluding carry (high end of range if you got lucky w/ carry payouts), with maybe $8M-$20M in DAW carry that vests over the next 5-10 years. Highly variable depending on if MM/UMM/MF, historical success of your fund, and returns on your personal investments.
Thanks, that makes sense.
lol 20m in carry as a partner at a top MF? Try triple that
For true MFs and including total carry across all funds by the time you're a 40 year old partner, yeah you're probably right. My numbers more accurate for MM / LMM partner.
VPs everywhere just got a mutual wave of depression on your number - late 30s and $20M+ in NW..... is an extreme outlier lmfao. As an early 30s VP, there is zero fucking chance that I have anywhere near $20M in the bank (after tax). Get the fuck outta here if so bc my jealousy is firing
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