Thinking recently about who/which level of seniority on the buy side is best to contact for a sell side mandate, specifically on the financial sponsors side. I’ve one question and then I’ll throw some ideas beneath it to see if other people have differing views (especially helpful from those receiving these opportunities).
First question: if I’m looking at a PE firm, and there are two partners that specialise in the sector of my sell-side Co & both have relevant PortCo experience, am I best writing an email to both of them? - or picking one and then CCing their VP? My thought process is, Is it harder for one partner that liked a company to defend/promote it at IC if another partner has taken a Quick Look at it and wasn’t such a big fan? (Ofc assumed both partners are at IC which is a stretch).
just trying to gauge what people’s thought process is on this.
Second part: I’m gonna throw some of the Target seniority levels for best buy-side traction re email outreach for a sell-side mandate on here and would like to see if people agree/disagree.
PE fund - typically 1MD, director, & VP/asso CC’d in. (Sub question is, why would 2 partners not be better?)
Family office - I’ve actually had more traction with VP/investment manager level than partners.
I suppose what I’m really trying to get at is from someone outside of the PE house, I’ve no experience of how these outreaches are shared across the floor. Will anyone receiving these TargetCo outreaches CC in all other relevant team members? Or will one person look at it and decide on the spot? If so, is that typically always the MD, or in some cases would the MD not look at anything until a director had said if it was worth their time.
Any insights/thoughts on either of these appreciated.
When it comes to sell-side outreach and buy-side seniority preferences, here’s how you can approach it based on the most helpful WSO content:
First Question: Contacting Partners at a PE Firm
If there are two partners specializing in the sector of your sell-side company and both have relevant portfolio company experience, the best approach would be to email one partner directly and CC the VP or associate. Here’s why: - Avoid conflicting opinions at the IC level: If one partner takes a quick look and isn’t a fan, it could create unnecessary friction when the other partner tries to promote the opportunity. By targeting one partner initially, you allow them to champion the deal without preemptive bias from their colleague. - Leverage the VP/associate for follow-up: Including a VP or associate in the CC ensures that someone operationally involved can help push the opportunity forward or provide additional context to the partner.
Second Part: Target Seniority Levels for Buy-Side Outreach
Here’s a breakdown of the best practices for targeting seniority levels across different buy-side entities:
Private Equity Funds:
Family Offices:
How Outreach is Shared Across the Floor
Key Takeaways:
This approach ensures you maximize your chances of engagement while navigating internal dynamics effectively.
Sources: Depressing Moelis & Co. Staffer Email, From Private Equity Associate to VP in Private Equity, Guide: Cold Contacting Investment Bankers For Non Targets, Different headhunters reaching out to different people at same firm?, From Private Equity Associate to VP in Private Equity
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