PE Fund of Funds Co-investments and Secondaries Analyst Exit Opps
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I should note that other possibilities for me would be investment analyst at Vanguard or IB analyst at a very small boutique.
Given your other options as an investment analyst at Vanguard or IB analyst at a small boutique, I would recommend the PE FoF role. I understand your apprehension of "closing doors," but I believe it is the best option of the ones you listed. I worked with 2 strong analysts at my IB who went to one of the funds you mention above... they are/were actually in the group you listed. PE FoF is a very good exit opportunity out of IB.
Thanks! Do you think there is much of a difference in prestige/compensation between the two firms I mentioned, HarbourVest and StepStone? I'm wondering if I should continue my search into other FoFs. If you don't mind me asking, did your colleague end up at StepStone, or HarbourVest?
I can't speak to that question personally, but I will say that I have a friend at HarbourVest (more in an accounting role, but still) and they really enjoy working there. I don't know much about StepStone myself so I can't be completely objective, but hope that helps a little.
I honestly don't know too much about StepStone vs. HarbourVest, but they were both at HarbourVest.
Thanks for the responses so far! I'm curious though as to how desirable this job is in comparison to Bulge Bracket or elite boutique IB. Also wondering what the compensation is like (i.e. for either of the two FoFs I mentioned). Thanks again
If you plan on going to business school, the FoFs role will differentiate you from the bankers and investment analysts. However, if you think you'll want to go into direct PE or a hedge fund longer term, the other two options would probably set you up better. I worked at a PE FoFs (on the primary side, not coinvestments) before MBA and felt like a lot of options were still available to me. Don't worry about compensation right out of undergrad. The differences most likely aren't going to dramatically change your lifestyle. You'll probably only be at this job for 2 years. If you work until you're 65, then 2 years is less than 5% of your career; it won't define what you do with the other 95%.
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