VP role at a fund with meh performance?
Anyone have thoughts on joining a fund with high prestige but "meh" performance? Don't want to give specifics, but it's a multistrat fund (PE, Credit, etc.). It's last flagship fund in 2021 failed to reach it's cap by a meaningful amount. It's raising a new fund in the 2-5bn range, about ~10% larger than it's last flagship fund - they're about 70% subscribed on that one.
I'm a senior associate at an UMM fund - no VP promote. These guys would hire me as a junior VP. Good cash comp, good carry dollars. Team seems ok - no real red flags.
Intuitively, seems risky - but I guess worst case that I could go to B school / lateral again if the fund collapses...
Any thoughts folks have would be helpful.
Were you mainly focused on finding something in the top quartile / is that what people should be looking for?
Also what was performance like on the previous fund and how does it compare to avg
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