peinvestor2012:
Corp Dev would give you a better chance, but you also may not learn or work with LBO models, so that could hinder you. Still a better option than DCM.

If he takes corp dev though, he only marginally increases his chances, but will have very limited ability to move somewhere that will help him get into PE. If he takes DCM, he still has the option (along with better pay and decent lifestyle).

 
Best Response
mrb87:
peinvestor2012:
Corp Dev would give you a better chance, but you also may not learn or work with LBO models, so that could hinder you. Still a better option than DCM.

If he takes corp dev though, he only marginally increases his chances, but will have very limited ability to move somewhere that will help him get into PE. If he takes DCM, he still has the option (along with better pay and decent lifestyle).

Yea, but are assuming he is able to move into a coverage group, M&A or LevFin. I've seen plenty of guys get stuck in DCM and ECM, hating life b/c they want to do M&A.

 

I would go the DCM route and try to jump to a coverage group. As pointed out above I think it will be very difficult to get PE offers coming out of CorpDev and I think it would certainly be easier to move from DCM to a coverage group, even at a different bank, than the CorpDev to PE role.

There's no doubt that it's possible to do, but you just never really hear of the CorpDev to PE move at a junior level. Obviously that could be a function of a small sample size coupled with the fact it's an unusual path in finance.

Ultimately, as mrb87 said, I would rather get 'stuck' in DCM than CorpDev.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 
thecoldburns:
Strictly speaking just looking solely at DCM vs Corporate Development, Corporate Development will definitely be a better path to take for MM PE. I have a colleague who took this path because the skill sets are very similar.

Any idea on the potential deal flow?

Sure, last year closed 3 deals..this YTD closed 2 deals in the second quarter (announced in Q1). Deals are fairly small, although I believe they are working on their third deal which is larger than the rest.

 
BBnkr10:
thecoldburns:
Strictly speaking just looking solely at DCM vs Corporate Development, Corporate Development will definitely be a better path to take for MM PE. I have a colleague who took this path because the skill sets are very similar.

Any idea on the potential deal flow?

Sure, last year closed 3 deals..this YTD closed 2 deals in the second quarter (announced in Q1). Deals are fairly small, although I believe they are working on their third deal which is larger than the rest.

Still shows they are fairly active. If the firm made that many acquisitions (or divestitures - if they handle them internally) that means there were another 10-15 evaluated lightly and probably 5 more with a high level of scrutiny.

 

Better to be "stuck with" a DCM job, but i think better odds of landing a MM PE gig with the corp dev job based on your description. If you really want to get into PE and have the best shot, i would do the corp dev job, understanding that you still probably won't get a shot with any megafunds or even some MM PE out there.

One positive for the corp dev job is you'll probably meet and speak to many PE firms as they will be prospective buyers for any divested assets (if that is something the firm you're thinking about going to does). If you are able to build relationships with the guys you speak to, there's definitely an opportunity to leverage that and try to squeeze into one of their recruitment processes.

 

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