Starting a PE Fund
I’m interested in this career goal and would like to learn more about it. When do successful founders start their funds (post IB stint, post MBA)? Is the risk-adjusted return comparable to just working on at a PE firm as a MD or such? Is this a realistic goal? I will be starting my undergrad at UChicago this fall and am planning on starting networking/clubs/internships right when I get there to get an edge.
Posting this in IB for exposure, let me know if I should move it.
In their 40s-50s. It's not like a tech startup where you have 25-30 year olds raising serious money. You have to show a strong track record as an investor first, and that takes at least a decade given how long the investment cycle is in PE.
You should go IB -> PE and reevaluate if/when you hit MD. Most successful guys raising funds were making plenty as MDs at other shops, and go out on their own for more favorable economics. Not something a college freshman should be worried about to be quite frank.
Also, please for the love of God don't network right when you get there as a freshman. Sophomore year is when you can network for the junior year internships. You are already way ahead of the curve, you do not need to go insane here. You have to be chill and social to land these jobs, not just a finance-obsessed crazy person.
Yeah makes sense, thanks for the advice.
Also I’m planning to also enjoy freshman year, play on the tennis team, maybe join a frat, but thought it might be a good idea to also get a better understanding of the playing field by networking a bit.
Just don’t want to fall behind my peers and not be able to get my ideal roles when recruiting season comes round. Do you think that’s justified or am I looking into it too much?
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