I am a second year IB analyst at a MM firm. I'm actively trying to move back to my home city and was denied by my #1 and #2, but was fortunate enough to receive an offer from my #3. While I really like the firm's investing principles and the personalities in the office, I have some reservations regarding exit opportunities should I decide to explore my options in a year or two. I asked for fund performance over the last two to four vintages and was disappointed to see the fund under perform (averaging mid-teen IRRs). Recently, they failed to reach their hardcap for their newest fund and nearly had a down round.
I don't have a strong grasp of what funds look for when hiring a lateral beyond the usual: recommendations, brand of last employer and responsibilities. The group has a solid regional reputation - plenty of contacts have said good things about them.
Will IRRs of the fund impact my recruiting efforts should I want to move upstream in the same geographic location? Should I be worried that recent performance hasn't been up to par?