Have IB internships under my belt and got an offer for a large middle eastern conglomerate's internal M&A team that does deals for both the conglomerate and the family office. The family office does 1-2 LBOs per year and the conglomerate is highly acquisitive.
Considering that the end goal is to break into PE should I accept this offer?
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I would still go for IB first since PE firms still have that as one of the main pre-requisites for candidate consideration. You can still break into PE with only CorpDev experience assuming you do a lot of transactions that are also relevant to the strategy of the fund you’d like to work at (not just LBOs but also target sectors and assets). That being said, having IB experience, then going to CorpDev can also make you a strong PE candidate down the line as you have a good lay of the land in terms of industry players, trends and competitors.
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