Transitioning from Fixed Income Investment Manager to PE
Thoughts? Doable? 5 years in working with Corporate pension clients. Hold a CFA but no MBA. No I-bank experience. Name brand FI manager.
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Seems to be a lot of people trying to transition to PE without prior PE experience...
Look, nothing is impossible, but what you're trying to do is going to be EXTREMELY difficult (read: almost impossible). Just think about it this way: what do you offer prospective PE firms that they wouldnt be able to get from former IB / current PE professionals?
Perhaps you can use your network to gain an inside edge on a small or new PE firm. But other than good luck / fortune, I see a pretty difficult path for you without an MBA and transactional M&A work.
Do MBAs resonate with PE firms, or is it simply a case of your network will be bigger and thus your chances better? For me I've realized the work itself seems much more appealing.
Having an MBA from a top school (HBS, Stanford, Wharton) will help somewhat. But the rule of having transactional M&A work still applies. It is the single biggest prerequisite for getting a PE job.
Sure, there are some people that luck or network their way into a PE gig without a "traditional" background. But those cases are rare. And with so many people trying to get into PE (not exactly sure why, but that's another topic), it's only gotten more competitive.
Ya I expect it to be difficult. I really appreciate the feedback.
Fixed Income to PE, should I try? (Originally Posted: 11/06/2017)
Hi guys, I need some advice. I'm currently a fixed income analyst at an insurance company, and I have an interview with a private equity firm. I currently like my coverage but I feel a bit lost at times, considering that I'm the only analyst at my company that covers this sector. So I'm essentially googling things and reading primers without any direction. I just started and feel like this won't set me up very well long term. Do you think that private equity would be a better choice? Also, is leaving in 9 - 12 months too scumbag? Finally, what would be some questions that I should expect and prepare for? Would I get the same types of questions as IB analysts, even though my background is significantly less modeling intensive?
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