Does anyone have any perspective on whether moving from Valuation Services to Private Equity is a doable move? I am interested to hear general perspectives but also specifically relating to the UK if possible, I know US/ Europe can sometimes work a little differently.
How transferable are Valuation Services skills into Private Equity?
Specifically I am considering Valuation Services at Duff & Phelps, and would want to move to lower/ mid market private equity down the line.
Thank you.
It has been done before, but it's definitely not common...
Vals >> IBD >> PE is more common from my observation.
Will not happen from Duff & Phelps. The IB groups at the Big 4 (which Duff isn't part of) can't even really move to PE. If you are in Europe you may have a slightly better chance but 100% no in the US.
You will not learn relevant skills in pretty much any fashion
Doesn't PE firms employ valuation skills as well?
What the deal teams do really isn’t comparable to what dedicated B4 / HL / D&P valuations groups do.
Sometimes funds do hire internal valuation teams for their portfolios; these directly target your kind of profile, but they’re distinct from the investment groups and work more closely with fund accounting. Might not be a bad way to end up as a fund CFO one day if you also round out the skillset with IR, compliance, or accounting
Really tough. I've only seen valuation services to small, no-name PE shops and even then, I'm sure it was a struggle to make the move.
Valuation to PE? (Originally Posted: 12/28/2009)
Had anyone heard of an analyst/associate successfully making a transition from a valuation position (think Duff & phelps, Houlihan Lokey) to PE?
what was your industry in valuation and typical valuation customer (i.e. ESOPs, estate/gift, M&A advisory, typical target size, etc...)? i deal with a few valuation experts that have successfully moved out of the valuation game into IB and VC/PE, albeit while staying in the same shop and just expanding the firm's scope.
Mainly working on fairness and solvency opinions for an array of different transaction types and industries as well as purchase price allocations. Typical target transaction size is roughly $5-200M. I also have experience with ESOP/ERISA and estate related issues. So, although the technical background may be there for a move into PE (or VC/IB), I'm curious as to how a recruiting firm would view this type of advisory seeing as it is not highly 'strategic' in nature.
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