AM to PE

Ik know this is NOT the typical path, but I was wondering if you go into asset management in a research position at a well respected fund, and develop solid modeling skills, is it possible to go into pe? Again, I know banking is the typical path, but is PE completely eliminated as an option if you go into AM and skip banking? There is a high likelihood I have an opportunity to work at a strong large AM firm out of undergrad, which is more appealing to me than banking as I love investing, but I am not sure if I would ever want o go into private investing and I don't really want to eliminate the opportunity. Thanks

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Comments (2)

Apr 23, 2021 - 10:11pm

Generally no, but there are exceptions. 

It's pretty hard to move from a LO public markets role to a PE role. Doing a public equity role, especially in large liquid developed companies (which most AMs focus on), doesn't offer much of an overlap to PE

However, there are exceptions. Much of it comes down to what you cover at the AM. If you're covering large cap names, there isn't much of an overlap with PE. If you're a small cap biotech analyst and become a specialist in that area, an argument can be made to move to biotech PE, and so on.

So, I would say generally no but it really comes down to the AM job and how transferable the skillset is to PE. Ppl at big AMs have a pretty cushy seat and tend to stay there, I've only heard of extremely limited instances of something like this happening. 

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