Is Healthcare PE possible with no healthcare coverage experience? If so, what should my strategy be?
Got placed in a product group at one of GS/MS/JPM and am very excited to be here. If I were to consider buyside opportunities, I think I would LOVE to exit to a Healthcare focused firm or at least at a place where I can get lots of Healthcare exposure. I have no doctors in the family, was not a bio or chem major, and barely keep up with the industry at the moment, mostly because I barely keep up with any industry at all given I am fresh out of school and currently focusing strictly on my job.
I would want Healthcare because I am genuinely a pretty intellectually curious person and would likely get super into learning about drugs and other medical advancements, and also because I anticipate there being plenty of room for exciting innovation/disruption well into the future given the ever changing regulatory environment and how little we know about things like the human brain, appendix, Alzheimer's cancer, etc. In my product group, I will of course get some exposure to HC deals but obviously not as deep as if I was in coverage.
My question is, is it possible for me to break into a HC focused investing role, and if so, what would be the best way to maximize my chances of doing so given what you all know of my background? Traditional buyout vs growth? Megafunds with HC teams or smaller firms with HC exclusivity? Should I try to lateral to a HC coverage group? If lateraling is the answer, should I take whatever HC opportunity I can find even if it means leaving my top BB for a specialist/boutique? What efficient resources can I start keeping up with to demonstrate an interest in the space so I'll have a nice story to tell when it's show time? Should I prepare for interviews/modeling tests in a particularly different way? Any recent Healthcare 101 forums/posts/websites (the best i've seen on this site is a post from 2014).
For those with a HC focus on the buyside, how would a candidate with no obvious HC expertise make herself competitive against HC coverage analysts?
Any feedback is appreciated. Thanks all for the time.