I was hoping someone could provide a bit of info on the big placement agents out there for various types of funds (HF, PE, RE, etc.) and provide a bit of an overview of the major players in the industry as well as what general exits and b school placement looks like. While there's a bit of info out there, most of it is relatively out of date or behind paywalls. Mostly just looking for general info
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can’t help you but there’s a WSO podcast (E10) that may help you / talks about this a little
Would you be able to drop the specific episode title? Not all their links have episode numbers with them. Thank you!
"E10 : Fundraising for Private Equity - Cap Intro & IR career paths" I tried to copy the link but it wouldn't let me. There might be more podcasts on this but I just haven't seen them.
https://podcasts.apple.com/us/podcast/e10-fundraising-for-private-equit…
Have done a SA at a top placement agentin London, feel free to PM.
Interested in this as well - just sent you a PM!
Ok so I've interned with a top global placement agent (while in a foreign country) and tried extremely hard to recruit for full time in the US and ultimately failed. PE placement agents are either standalone or called a Private Funds Group or Private Capital Advisory group at a bank. Some shops are fundraising and advisory, which I strongly prefer, as you get to play almost a consultant role and do internal due diligence on your client GPs.
Work at the junior level making GP pitch-books, answering DDQs, creating case studies, really whatever the GP needs according to your mandate (aka whether they just need fundraising connects, or if they need help in everything they do.)
Basically any placement agent has a v high success rate because they simply don't take on shit mandates as it would be against their best long-term interest to convince their clients to commit capital to shitty funds.
Theres a preqin report on all the major players. Typically PFG's at banks take on the biggest mandates, but also these mandates are usually simply fundraising and less advisory at the junior level. MM size funds (300m-1.5B) usually provide the most opportunity for juniors and provide way more interesting work than the ones who raise for megafunds (as far as I know).
Work is typically 50-65 hours a week depending on how many mandates you're on. Pay at banks is same as IB at entry, but doesn't grow as quickly. Pay at independent fundraisers you'll get something more like 90+10k bonus as an A1. Can make a metric fuck ton if you're really good and can make connections.
Can be extremely difficult to recruit for out of undergrad because 99% of the time you're up against burnt out M&A bankers, but its not impossible.
Good info here...just a few points to add:
1) Private Capital Advisory groups at Lazard and EVR are very strong deal flow wise and comp is the same at other IB groups
2) Much of the work at placement agents is liasing with potential LP's, but some GP's (who are not as sophisticated) will most of the time require the Bank/Agent to write their whole PPM for them which requires a ton of work...(not modelling intensive however, just a lot of writing and putting stuff together)
3) Typically, analysts and PCA groups stay and don't leave, much of it being exit opps are limited. However, I've also realized that PCA groups usually have A1 culture compared to other groups. So make sure you're going in knowing that this is something you want to do.
Hope this helps.
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