Massive offer to run M&A at portfolio company

I've been approached by a recruiter to be the head of M&A in a portfolio company backed by a mega fund PE firm. The portfolio company is in the exact same industry that I'm in and I am confident I can do the job starting on Day 1 (if I get the offer).

When I asked about compensation expectations, the recruiter gave a salary range that was 2-3x my current all-in comp. I do have some equity in my current position, but it is only valued at around ~$50k right now. I'm assuming this position is going to have significant equity that would be in the h

Here's my question: how do I approach my current compensation during the courting/negotiating process? If I tip my hand that this is a massive upgrade my concern is that they will either think I'm not qualified for the position or they would low-ball me.

 
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