Hello,
What would you pick between traditional PE and Canadian Pension Funds PE?
How would you also rank them? Worried about career progress and pay really moving from banking.
Thanks!
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nori90, sorry about the lack of response. Maybe one of these topics will help:
Hope that helps.
bump
Bump. Can you edit your post to include BCI?
bump
I'm assuming your referring to canada in particular and starting at a junior level. Anyway, the following only applies to Canada
Pension Funds Pros -Work on large global deals (ie. possibility to work on blockbuster deals) -Easier to get promoted due to growing headcount (more true at some than others) -Good work-life balance (generally speaking, there's variation) -Internal mobility (both investment groups and office locations)
Cons -Most still rely on partners to do deals and don't take control deals (ie. don't control process) -Comp is capped and all regular income, significantly lower than at similar size fund -Quality of senior professionals is generally lower (and at some of the fund you listed, just low overall) -Very, VERY political -Pressure to deploy capital makes it harder to spend time on PortCo
MM Funds Pros -Higher caliber senior professionals -More responsibilities earlier on and better learning experience -Much higher comp potential due to carry -Independence (ie. in control of process)
Cons -Mostly work on Canadian deals (with maybe a bit of US) -Moving up is generally very difficult -MM companies tend not to be very sexy
SB'd thank you very much for the great insights! I was just wondering what do you mean by Pension Funds being "very, VERY political" in this context?
I know a few guys who crushed it at Canadian pensions and then moved into my shop or other shops ahead of where they would be if they had done IBD -> PE. They seem to know a fuckton of people (likely due to being LP coinvest capital) both at other shops and at Port Cos. Think IBD -> 4 years pension -> step before MD.
US focused and they were all in the direct equity practices.
This is actually correct lol - while not common, there are a few people who exited from Analysts at CPP to MFs
The above is not accurate
I mean it is accurate that I know these guys. They've done exceedingly well. Could be one-offs but I know a few of them.
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