Moving to Private Equity: But which fund?

Which fund

Georgie Banfield

Many of the candidates we speak to are interested in moving into Private Equity.  In previous articles we have shared the range of reasons why as well as who suits the industry.  But once you’ve set your heart on the buyside, with so many funds out there differing in elements such as size, strategy, sector etc, how do you decide which one is for you?  And with the carry model such that it is, it’s important to get it right as you could be tied in for many years so you don’t want to get it wrong.  Here we speak to members of our network from the Private Equity community to share their advice.


Investment Manager, Mid-Market PE Fund: “People rush to get into Private Equity.  There are clearly financial benefits, and it is known as being more of the elite side of the financial sector and that’s one of the goals people have.  The carry model is one of the main reasons on the financial benefits side that people are attracted to but the reality of that means that it’s a long-term game.  It certainly makes you think about whether it’s something you really want to do for the next 10 years. 

The main thing I drill into people who ask me my advice is to meet and speak to as many different people as possible and choose the one that best suits you.  It’s a competitive industry so you’ll end up applying to many different funds.  Don’t choose the biggest brand or the one that you think is most prestigious without doing your diligence as the day-to-day and team dynamics might not be what you want.  What a lot of people tend to forget is that interviews are a two-way process and to use those opportunities to ask questions and figure out if ultimately it is a place you’d like to work.” 


Partner, Venture Capital Fund: “There are different investor funds that suit different personalities.  Some are very “eat what you kill” and ego driven environments, others are more mission driven, some are more financial driven. 

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