Advice needed - infrastructure co-invest/secondaries
It's been a long time since I posted on this forum, but I am starting down a fairly large career decision and wanted to solicit some honest advice.
I am a post MBA ASO in energy investment banking with a lengthy background in many facets of the industry (cleantech, power, midstream, LNG, etc.). I've worked in banking, start-ups, growth equity and others at smaller firms until now in a bulge bracket IB role. It has long been my goal to break into a legitimate, top tier infrastructure fund platform but have found the sledding tough and have been hesitant to jump to marginal and/or undifferentiated funds given the extreme competition in infrastructure, pressure on returns, etc. I have also been turned off by infra fund roles that require a sub-sector specialization given the unpredictably of supply / demand for certain assets (e.g., LNG can be oversupplied for 3-5 years, renewables can die with the removal of legislation, etc etc.)
I have managed through to land a role at a large asset manager with a dedicated infrastructure team as part of a smaller group focused on: co-investments (~50% of job), secondaries (~30% of job) and primaries (~20% of job). This type of role would be new to me, but is appealing because: 1) stable platform that consistently raises money, 2) is located in a favorable geography with low cost of living and 3) is diversified across power, energy infra, transportation, comms, etc.
I understand quite well the day-to-day differences of traditional direct investing vs. co-invests and fund investing, and I am comfortable with that. What I am looking for is advice from folks that have pursued this kind of role, and what the career trajectory looks like. What does a senior role look like, are the opportunities deep and insulated from dis-intermediation, comp, etc.
Thanks in advance from a long time member.
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