BB Associate to PE / family office - off cycle recruiting
Related Resource: List of Family Offices
2nd tier BB second year associate (A to A promote) looking to get more insight into off cycle private equity recruiting - who are the best HHs to reach out to? will HHs and firms be receptive to 3-4 years in IB now looking to make the move to PE? anyone have a similar experience and can provide insight?
have heard family offices are more open to non-traditional background - anyone able to substantiate that? what is the best way to get in front of FOs? HHs or networking?
Family offices generally rely less on HHs than traditional PE firms. I also see Go Buyside representing family offices pretty frequently / they'll cut the middle man entirely and post jobs directly on LinkedIn.
You may have to do some research to find a solid list of family offices. I can't imagine that's the most difficult Google search.
Frankly, family offices are more open to different backgrounds because the associate role is less coveted than at an institutional firm. I think this is for a wide variety of reasons. A few pain points I can think of:
Networking is probably more viable than in traditional private equity, particularly for funds that approach hiring directly vs through a HH.
There's a million threads on headhunters. I'd advise using the search bar for that inquiry.
I'd also add that you should most likely expect to start as a first year associate and taking a paycut will be a very likely outcome. I believe this is a reason why you see fewer A to A's lateraling to private equity. If investing isn't really your thing, you should ask why setting yourself back 2+ years with little guarantee in promotion is a good idea.
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