Equity Research to Private Equity - Does it happen?

I'm working in Equity Research at a BB (MS/GS/JPM) for my summer analyst stint in the coming summer. As time progresses, I am realizing more and more that I could enjoy PE/VC down the road. I do have a passion for public markets but the opportunity in earlier stage PE or VC is exciting and is something that i do not want to rule out in the future.

I just want to know if you ever see anyone make this transition and if they do, how did they? ER -> IB -> PE or does the direct jump from public to private happen?

 

If you are looking to go into growth PE, ER gives you better exit ops. If you're looking to move into a buyout fund, banking is the clear way forward, as deal experience makes a difference. If you're looking to go into special situations or distressed debt funds, you're better off starting in restructuring.

 

I haven't seen this yet but another poster has stated that ER > HF is more likely. Private equity is very transaction/execution oriented, which fits bankers and even consultants since the former transacts and the latter knows which sector/area to transact in.

Equity research is a bit of a different animal but anything can happen. At very small PE shops you'll see that not everyone did a traditional route.

 
SanityCheck:
I haven't seen this yet but another poster has stated that ER > HF is more likely. Private equity is very transaction/execution oriented, which fits bankers and even consultants since the former transacts and the latter knows which sector/area to transact in.

Equity research is a bit of a different animal but anything can happen. At very small PE shops you'll see that not everyone did a traditional route.

This

 

Have you had the interview yet? How did it go? In ER myself and would like to transfer to PE. I just came out of a process where I was ranked 2nd among 300 applicants and didn't get the offer, only because the 1st guy came from another PE house. They claimed we did equally well in the interviews and on the cases, but went with him due to being a small team and his CV would look better for potential investors/targets.

I'll sleep when I'm rich... ..in addition to go back playing guitar and skateboard.
 

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