Im pretty sure I got dinged from a PE position I've been interviewing for... but I seem to have been recommended by one of the people at the firm for another position working for a small team of investment professionals deploying their multi-billion dollar fortune in PE investments.
I would be working on an extremely lean investment team. And I would imagine would get some great experience and probably make some killer connections.
What are some of the actual pros/cons of this type of position? Do any of you know someone who has done something similar?
This could be an incredible opportunity or a total disaster. On the plus side you could get to do a lot more at an earlier stage of your career while working closely with extremely sharp people.
Without knowing any of the particulars of the small team opportunity, the potential risks are:
Execution Capabilitities: It's not the right team of people to pull off what they want to do. They may be individually brilliant, but they don't know how to set up what they're trying to do and the infrastructure/organizational problems get in the way of the experience/job that everyone wants to be doing. If after your initial conversations you feel like this could be interesting, talk to some experienced people to get their opinions on the individuals and likelihood of success in pulling off what they're shooting for.
People: Chemistry is much more important when you're dealing with a small number of people. You would be low person on the totem pole most likely. Make sure you feel very comfortable with them, and try to talk to junior people who have worked with them in the past (don't ask for these types of references. Use your network to find people who worked for them before)
Next Steps: If it doesn't work out for whatever reason, will you be able to transition into a more established bank or PE opportunity? This will depend on the quality/reputation of the people you were working with, the actual skills you developed, and the strength of the market.
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One thing that I didn't make clear was that its a team of professionals deploying a wealthy family's fortune, which they have been successfully doing for quite some time (10+ years).
formerMD touched on most things. the big pro is that you can get an amazing amount of responsibility and experience out of this. you should definitely meet the team and get to know them first (where they come from, track record, etc.)
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