Do most MM PE shops allow for remote work / work from home?
I'm not especially keen on leaving NYC, so I'm wondering if it's worth recruiting in the next few weeks, even IF there is another on-cycle for 2024, since rumors are most of these will be MM shops in Chicago, LA... etc.
Does anyone have any suggestions? Not at the best bank, so tbh NYC MFs are probably out of reach. Family offices, maybe?
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There are a million MM funds in NYC that haven’t hired for ‘24 yet so you should have a bunch of options when they start recruiting. I would get in touch with all the major headhunters so they know your preferences and can suggest firms that might be a good fit. I would also mine alumni connections (both from your undergrad and bank) and reach out to folks at funds you think are interesting to get a sense for their hiring plans.
I would advise against trying to be remote for your associate stint (to the extent you can even find a firm that would allow it). Even more so than banking I find working in PE benefits from in person interaction and I think it would be very difficult to get up to speed fully remote (my firm’s 2020 associate class is an unfortunate relic of that environment).
Def try to stick to NYC but if you gig is in the north east but outside of NYC try to reverse commute (I.e ct or if in Boston/DC 2 days in office 5 days in NYC)
To add to this, any pe firm that even allows for fully remote juniors probably isn't legit.
Definitely some good funds out there that go hybrid (2-4 days in, rest out)
Oh and if you’re interested, here are some specific NYC middle market funds that I think are interesting. By no means exhaustive, just groups I’ve come across that seem legit:
- Cortec
- Tenex
- 3i
- Incline (a handful of IPs for one of their funds sit here vs. Pittsburgh)
- Clarion
- MS PE
- Crestview
- One Equity
- Sentinel
- Brightstar
- American Industrial
- Stellex
- Staple Street
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