Physician, Consultant, no deal experience but interested in PE
I'm a foreign trained physician, 2 years in MBB but no deal experience (or didn't do due diligence studies), thinking about moving to PE.
I plan on taking financial modelling and valuation courses to develop these competencies but wonder if no deal (or DD) experience makes it near impossible to get in.
My interest is to target firms (irrespective of fund size) that have specialized healthcare portfolios or healthcare specialty PE firms.
I appreciate your perspective about what my chances are, and how to approach networking / recruiting.
Thanks
It will be difficult to transition to an investment professional role, but you might have good luck going into the captive operations / consulting arm of one of the large funds (e.g. KKR capstone). There are a ton of interesting roles you could take on at one or more of the healthcare portfolio companies. PE has been shifting pretty rapidly away from financial engineering and toward operational improvements (too many buyers make it difficult to pay low multiples), and they'll love your consulting experience + MD.
Thanks for your response.
Could you give examples of these typical typical healthcare focused companies (MM PEs, where I believe my odds could be slightly higher compared to MF PEs).
Funds with inhouse consulting arms, or with multiple port cos in one vertical (e.g. healthcare) are almost by definition not MM. I'd try to network with KKR, TPG, Blackstone, Warburg Pincus, Carlyle, Apollo. Most of these funds will have "operating partners" who focus on improving growth, margins, strategic positioning, etc at the companies they've acquired. I would think that's where you'll be most useful and appealing. You could also go to business school, as someone noted below. Just not sure how old you are or where you are in the consulting hierarchy.
I appreciate your response, HowlerMonkey.
I'll try network with the companies you've suggested.
Umm.. almost zero chance. Maybe you can be more of a healthcare-related consultant. But seriously, what value would you provide a PE firm from an investment or transaction perspective?
Just run for president dude..
Go to b-school
B-School
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