I’m currently a VP at a PE PortCo. One of the only PE shops in town (LCOL city) posted a VP role.
I assume my chances in applying for the role would be 0% but I am curious if there are other points of view. I have a few deals under my belt at the PortCo but again, my career experience has largely been in FP&A across a few different industries.
What I’m trying to determine is if it’s a long shot or a 0% shot. Has anyone ever seen someone come into PE at VP level that had zero IB/PE experience? My hope is the experience at the PortCo and with this being a local boutique firm that I’d get a shot as a non traditional candidate. I have an MBA and over a decade of work experience. Through FP&A I have financial modeling, presentation skills, strong business acumen, etc. Some of these are transferable to PE but obviously not direct PE experience other than through my interactions w my company’s PE sponsor. This firm places high value on people who have connections to local community.
Seems like a 0% shot under most circumstances but if they're emphasizing people w/ ties to the local community and you have some value you could leverage to help the portcos you work w/ in addition to showing competence in financial modeling, I think there's a long shot but real opportunity here. I'm also guessing this is likely a LMM/MM fund which is much more forgiving to alternative backgrounds than ones further upmarket. You should definitely apply and give it a shot!
Echo this assuming it's LMM especially (think sub $750mm and likely sub $500mm fund size). Tons of these firms in my city "T3" value people with working in industry vs. IB backgrounds as there's generally a lot looser/less defined functions at companies and that's an easy thing for PE firms to improve. Having your background could help this firm assuming they want/need that in this role.
Might as well apply, worst case you don't hear back. The talent pool for your city is probably a lot slimmer than other places, never know!
Agree with others, worth a shot and you lose nothing by applying and networking.
I would agree it's fairly close to 0% chance so don't get your hopes up, but you have nothing to lose and should definitely try. I would network, and if there's anyone that can give you a warm intro given the community aspect that would help even more.
Thanks all. I’ll give it a shot.
You need to really sell yourself on your ability and experience to manage a process/transaction. They are likely looking for someone that can run the deal team (creating/overseeing the creation of the deliverables, modeling, diligence, etc) and interact/mange the necessary counter parties (bankers/attorneys/consultants, etc). If you have decent experience doing this, then you probably have a better shot than you think. If however this isn't something you have a lot of experience its closer to 0%. You should try to network in somehow as well.
OP -- what exactly are your roles and responsibilities with the PortCo? You could have a 0% shot or a decent shot based on this assuming everything else checks out.
Regardless, apply, give it your best shot, don't let some of these folks discourage you. Some small PE firms have partners that just want a group of really sharp hard working people and can be open to different backgrounds. You never know.
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