What would you do in my shoes?
First, apologies in advance for the fishbaiting title. Feel free to MS me for it if the below does not interest you. To the rest -
Hello! Long time lurker here. Similar to others, I have found the WSO community to be incredibly helpful in my career decisions and to follow suit, I would like to ask the broader group what they would do in my shoes.
My background
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Upper-tier Ivy Graduate
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3 years at at large US MBB office
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Recently started at a MM PE fund (5-10B AUM) in the US
In short, through a network, I have an open position to be a leadership role (think MD/Partner level) at a sub-$200M fund in an APAC country (Tokyo/HK/Singapore/Seoul). The fund is only 1 year old and has no track record. The small team is very well pedigreed (Ivy + Upper BB IBD) but similarly has a limited track record. My base + bonus at the MM PE fund will be roughly the same as my base at the new fund but I will also receive large amounts of carry.
My biggest concern is my ability to add value and also invest in a different country from the US. My experience in PE has been
How is your network in that country? LMM is all about sourcing and if you have no network and litle execution experience, it's hard to see what value you wold bring to the table.
Nonexistent....I would basically just piggyback on the network of the founder and the thought is my value would exists more on deal execution and deal evaluation
A few thoughts:
Thank you so much for your thoughtful response and please be as direct as possible as that will make sure I make an informed decision. To answer your questions -
1) In short, the founder is a very close friend. Obviously doesn't assuage the red flag but does explain the rationale.
2) Completely agree - my understanding is they do have all resources e.g. third party providers but won't be best in class. With that said, that does not solve the piece that I will not know everything to the full extent, however, there are many veteran'ed advisors who are plugging in.
3) The fund is raised! So I lucked out there
4) I would not mind living there but the ability to come back to the US is an area of heartburn for me. I figured I could attempt to leverage the experience for a LMM here in the U.S., returning to MBB consulting or going to bschool. Maybe I won't be able to stay in PE but could likely come back to the U.S. Not ideal for sure.
5) In summary, I am leaning towards not going. I think there are a lot of red flags but I wanted to see how others would think about this opportunity. I feel like I do not even have the framework to even ask the right questions when evaluating this opportunity.
If you have further thoughts, I would love to hear them but appreciate your response!
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