Career decision to get to PE

I'm currently a chartered accountant who moved into an investment manager (circa £3bn AUM) 10 months ago to become and investment analyst.This is obviously buyside however I'm starting to get interest from recruiters for IB roles (both EB's and smaller banks).For a career in PE would it be advisable for me to to make the jump to IB? Whilst the obvious answer is yes, there are a number of ex-IB analysts and associates that have moved over to my firm as their first post-IB move. This makes me wonder if my current position is actually a better place to be for an ultimate move into PE. My current place is far less structured than any good sized IB, but good exposure to investment committee meetings and discussions with counter parties ect.I'm curious to hear what others have to say!Thanks

Comments (5)

  • Associate 3 in IB-M&A
Dec 3, 2021 - 7:14pm

Investment analyst is very vague. What type of company and what type of investments, is there a PE arm or strictly AM?

I'd venture to say stay where you are and see how you recruit from there. You're too experienced to go the well-traveled path of analyst out of college and then to PE, so you'll miss on-cycle, and won't have the same quality PE looks that people on the traditional path get. Plus, I don't think it's worth all the job jumping it'll require if you're already at a solid place

Dec 4, 2021 - 1:17am

Thanks for the response, we have some asset managers but it's very hands off (they are more just liaising with contractors). I work strictly on the investment side.

The only thing that worries me about where I am is that it's relatively small, so doesn't have the brand of an investment bank.

Would you also be able elaborate as to why being experienced will stop me getting PE looks? If it makes a difference I am London based.

Thanks,

Most Helpful
  • Associate 3 in IB-M&A
Dec 4, 2021 - 12:45pm

You'll still get some PE looks from banking, but it's much more common to go right from undergrad -> analyst -> PE. It's a little trickier to be an IB associate and try to get into PE because many shops are only looking for analysts to start in a year or two. Still doable, don't get me wrong, but you just won't get sent every opportunity like an analyst will. 

Almost no PE shops have the brand of an investment bank since the majority aren't global, you just need to figure out 1. how to make what you do relevant to PE (any modeling, diligencing, etc?) and 2. how likely it is for you to jump over. I'd network with some smaller PE shops and see if they're generally receptive to your background or think you need to take another step in between, or mention to any HHs you're talking to that you'd like to explore LMM/MM PE

Dec 4, 2021 - 1:16pm

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