Reaching out directly to firms when looking to lateral
Currently at a MF. Like many on here, I hate the culture and I'm looking to lateral in the next 6-12 months.
Planning to reach out to some recruiters but also considering approaching firms directly. I have a list of 8-12 small funds (small as in 2-3 associates) I'd be really interested in learning more about. No clue if any of them are hiring or what their typical process is.
I'm a bit wary of reaching out. It feels stupid but I'm concerned I will rub someone up the wrong way and it'll get back to my current team that I'm looking to leave.
I'd appreciate any thoughts on whether it's worth reaching out and if so, how best to do it (e.g. who to contact, generally asking about the firm vs. directly asking if they're hiring, etc.). Any general advice on lateraling also very much appreciated!
Bump
What region are you looking at, if it is international and through a recruiter I doubt anyone would reach out to your team to find out why you're leaving. Many people switch jobs, for similar reasons or even worse reasons. I dont think there should be anything to worry about, shoot your shot and see where it sprouts
Not looking to move internationally and curious about not going through a recruiter.
I think it's fine to reach out (would stick to emailing mid-levels though) and doing it in a more informational way (came across your firm, think the strategy is really interesting, want to learn more as I look to develop a career in PE) - I worked at a similarly small sized shop and while we used a recruiter for on-cycle, if we received an inbound, we'd always try to keep their resume on file to the extent we were in the market for another associate. Getting a response largely depends on the culture of the firm but worst case scenario is that you get ignored.
Why mid-levels and not senior people?
Senior people rarely respond, so if they don't respond you end up emailing half the firm. A well-written email to someone one level above you at a small firm will usually get a response. Also unless you are very well-educated on their industry/strategy, an ASO/VP is a way better person to answer more basic questions... you should have a decently nuanced view by the time you talk to the partner or MD.
You're also just way better off getting a warm referral to the senior from the more junior team member than trying to cold email your way to the MD
Thank you, this is really helpful and reassuring!
Fortune favors the bold. In my current role from a cold email - moved the other direction though, from LMM to MM/UMM. Gotta play this game rough: in, out, get, grab, bonk.
Could you share more info? What was your strategy, approach, etc?
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