PE IR vs. Placement agent
I recently got one offer from a global top-tier PE firm for a junior role in the Investor Relations team (dealing with PE/HF/RE) and one from a global top-tier placement agent with focus on fundraising (100% sales for PE funds). Unsure which one to pick here, as the global PE firm is indeed a great brand name but the placement agent would allow me to go out and meet clients since day 1. Appreciate any comments / advice here. Thank you!
My advice would be to go with the placement agent. Most PE IR teams are made up of fundraisers (those who have sales backgrounds and a network of investors) and then the junior team who are essentially focused on the administrative and documentation side of fundraising (responding to investor queries, drafting presentations and memos). At the placement agent you will be able to build up a network of investors, and then if you still want to work in house you can do that later. Comp also better at a placement agent.
Agree. In the PE fund world, placement agent is the analogue to investment bank as PE IR is to corporate finance function. Placement agent = sell side. More reps, more experience.
@tgcl any insight into junior comp at a placement agent? Any difference between the UBS/Lazard/Evercore bunch and boutiques like Eaton or Park Hill?
dan_theman Sorry for delay - not much difference between the comp at all of those at junior level. Not sure what it's like in the US but expect IB comp minus 10-20%.
Any idea on comp structure? Range?
Agree with tgcl. Go for the placement agent. You'd work for different funds and always be fundraising rather than once every 3 years.
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