What is so bad about LMM/MM funds?
Why do many people who work at a MM Boutique never break (or I guess don't want to get) into PE? I understand that there is a lot of competition within MF (Carlye, KKR etc.) / upper MM Funds (Summit, Equistone, Permira etc.) but especially in LMM Funds up to Funds with 1bn AUM there seems to be only a small number of former M&A professionals.
The majority of people who work in this kind of funds seem to have a operation/consulting background or already started in PE straight out of undergrad with some former M&A internship experience. But why does it seem that there is only a few amount of former bankers who are intrested in this kind opportunities? Is the pay/work that bad, that corporate M&A or VC provide better opportunities?
EUROPETARGET, pure crickets, that's where I come in. Any of these useful?
Who will rescue this thread? amydo owley slowpanda
Hope that helps.
Feel free to PM me, but I think part of it comes down to compensation and a preference for cash compensation whilst more junior versus the longer term picture in a LMM shop.
I moved from a top boutique as an associate to an associate in a LMM shop and took a ~20% hit on total cash comp. For me it was worth it, I get carry, I love my job and my lifestyle is great. Think is all comes down to personal preference.
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