Hi, I am a 2nd year PE Associate at a ~$10-15B fund interested in pursuing a roll-up play. I have some backing from HNW individuals and looking for a partner with similar background (IB --> UMM / MF PE) who is also passionate about building something. If there are any folks who come from a similar professional background and are interested please send me a DM, I'd love to connect.
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So your parents?
Would said partner have equal economics?
Good luck, hope this works out well - the Garnett Station and the Northrim Horizon guys seem to be doing pretty well.
Garnett Station has been crushing it lately... Last I had seen them in 2019 and they had a tiny website with only a few people and it has since grown significantly. They now have associates coming from firms like Credit Suisse, Jefferies, and Citi -- respect what they've built
How much do you think you will be able to raise for your own firm?
With all due respect but you’re just a 2nd year associate, you have less than 6 years of professional experience in finance (for which 90% of the time was moving logos across slides).
Make it to MD first at your UMM, build a solid track record of successful investments (leading from start to finish) and then you can think about building something on your own.
Knew of someone who had a similar profile in lmm pe. Got some backing from HNW individuals and now he’s absolutely crushing it, and he’s a partner. 100% can be done - don’t wait another 10 years to purse your dream if you have conviction and backing
There are definitely some success stories of UMM PE associates going out on their own. FWIW, I would think you'd need significant family/friends/close backer conviction as you'll need a fair bit of capital to even acquire a few $m EBITDA business, although I know there are SBA loans and the search fund model.
I'd also think that if you went out, failed, you would probably still be a good candidate to get back into PE, although may need to do some convincing on why you left in the first place and why you failed (was it bad investment judgment or just couldn't raise the $?).
The guys who spin out of UMM PE funds that were actually good associates or more senior sometimes have raised money from the partners / senior members of the firms they are leaving.
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