Thoughts on Operationally-Intensive Associate roles within MM/LMM Funds
Hi all, wondering what people think about operationally-intensive associate roles within funds (i.e. where you spend ~half of your time working with PortCos). I feel like it could be interesting to work with the PortCos on the day to day while also doing the investing and presume it would help build a stronger skillset for if you ever wanted to leave PE. 1) Does anyone have any experience with these kinds of funds, and 2) do you enjoy it?
Operationally-focused MM/LMM funds can offer a unique and rewarding experience, but they come with their own set of pros and cons. Here's what the most helpful WSO content suggests:
Experience with Operationally-Focused Funds:
Skillset Development:
Enjoyment and Lifestyle:
Career Progression:
In summary, operationally-focused MM/LMM funds can be an excellent choice if you're looking for a dynamic role that combines investing with hands-on business management. They can help you build a well-rounded skillset and offer meaningful career progression, but the lifestyle and workload should be carefully considered.
Sources: Anyone regret LMM/MM?, LMM is underrated, https://www.wallstreetoasis.com/forum/private-equity/then-and-now-compbanker?customgpt=1, Q&A: PE Senior Associate from Post-MBA Banking Role, THEN and NOW: @CompBanker
Bump
Depends on your interests. It's obviously a more sweaty experience; but would be the ideal spot to be if your goal post-PE is to do porco operating work. If you have an interest in operating and want to experience that world, albiet from a PE seat, these types of funds make a lot of sense. If the thing that excites you about finance is the day-to-day operations of a business or how business transformation happens at a micro/single-company level, I would strongly consider those type of seats.
Is this truly a 50/50 role or are you just characterizing your take on "operationally-focused funds?" I ask because I've never heard of what you're describing.
Typically operationally-focused funds just have internal ops team (separate role and typically employed by a separate entity).
Guess I should have clarified this better - more focused on learning about PE funds that have more operationally-intensive associate roles. For example, there is a MM fund in my geo where the work is ~50% investment / ~50% portco work, as they do not have a large pure PE operations team.
Wondering what the benefits / detriments of this are and whether others have enjoyed this kind of work.
Edited the thread to reflect the above!
Illo illo nihil temporibus recusandae. Aut laudantium ut blanditiis ab eum. Harum magni ipsum exercitationem hic non dolore. Dicta est soluta maiores vel labore ut libero aliquam. Officia enim eos magni illum non dolores adipisci. Eum aut assumenda possimus itaque. Eos optio nemo voluptate eveniet omnis consequatur expedita.
Ut rerum ut quaerat. In repudiandae optio quae reprehenderit. Ducimus molestiae numquam ut et autem et minima.
Rem perferendis non hic. Minima consequatur in consequuntur. Dolore eligendi vel consequatur voluptatum et. Ducimus hic corrupti assumenda. Porro exercitationem a ad nihil. Minima et officia veniam sed.
Sunt perspiciatis odio quis ipsa. Quis dolores dolor corporis sunt sunt et amet. Dolorem quo in illo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...