Corp Dev to PE… is it possible?
In the wake of the recent IB to Corp Dev post…
If you’re me, what’s your play to get from current Corp Dev role to landing a solid PE firm?
I miraculously got a Corp dev role at a public co right out of school from a non-target undergrad after learning about IB late in my junior year. Been at this co two years, got great strategy & $85mm transaction & post-close integration experience on a literally 2-man CD team.
Now need the badge on my resume of PE + higher comp will be nice. Fully ready for the WLB switch, just curious if anyone has insights on how to approach.
bump
Based on previous WSO threads, transitioning from a Corporate Development (Corp Dev) role to Private Equity (PE) is challenging but not impossible. Here are some insights and strategies to consider:
Key Points:
Networking:
Skill Enhancement:
Strategic Moves:
Education and Credentials:
Targeted Applications:
Additional Resources:
Conclusion:
Transitioning from Corp Dev to PE requires a strategic approach, leveraging your existing experience, enhancing your skill set, and networking effectively. While challenging, with the right steps, it is achievable.
For more detailed advice and success stories, you can refer to the highest-ranked content on WSO or similar threads discussing Corp Dev to PE transitions.
Sources: CorpDev to PE prospects - creating a long-term map / success stories, Corporate Strategy vs Corporate Development, CorpDev -> MM PE?, Leave PE for Corp Dev VP role?, Advice from people who left?
Bump - also interested
It's possible but not likely. Easier from a larger, F500 type firm where corp dev is more of a known entity, sounds like you are at a smaller firm even if public.
It would probably be a small boutique - I would focus on LMM firms in your industry, can network a bit and see if people are receptive to it.
That’s good advice… I’m thinking a move to Corp dev at an F500 or LMM PE but even F500 CD seems less likely / seems they prefer to recruit from IB/PE alone
Not impossible but challenging. I have seen folks who worked for a PE firm’s portco (corp dev) that managed to hop across but it was a small mm shop and the guy had worked Big 4 before that. There may be a shot if you work at a highly acquisitive corporate and your role entails lots of technical/m&a work instead of outsourcing it all the time.
That’s insightful. Either way probably entails some grind. I’ve gotten IB interviews but hoping to skip IB if possible… guess I’ll start networking
You may have luck targeting an analyst position at a LMM fund. I know it would technically be a step down in title since you’ve been working for 2 years, but that won’t matter in the grand scheme of things. You would be a better analyst hire for the LMM funds who hire analysts directly from undergrad. You also may be able to negotiate doing only 1 year as an analyst and then being promoted to associate in year 2.
I know people who have done corporate finance type roles out of undergrad, moved into a boutique investment bank for a couple of years, and then broke into LMM or MM PE from there. You could try that but it’s a longer road and will require grinding in banking for 2 years.
way more common in energy or real estate.
if you're a cornhusker (neb) - your best bet is going to do IB in Chicago and then PE from there. it'll be MM PE or LMM PE but it's still PE.
This is certainly possible. There are a few things that makes such a move easier.
(1) Did you work in a specialized field? For example, corp dev at a utility/oil and gas company/bank/etc makes it easier to transition into a PE firm that covers those spaces. But if you are going from say, Spirit AeroSystems to an industrial PE firm, you get less of a benefit. The reason for this is in "generalizable" fields, in fields where you don't need specialized skills/knowledge, such a background is less differentiable for you. It isn't to say being at Spirit's corp dev team means you can't get into any PE firm, just that there isn't really a "benefit" that you get for having that background.
(2) The size of your company, and of the deals you work on, matters. It is much easier to go from Microsoft's corp dev team to a UMM tech PE firm than it is to go from a Series B tech startup's corp dev team to a UMM tech PE firm. Generally speaking, it is easier to make the corp dev-PE transition when you are moving down market.
(3) You need a good answer to why you want to go from corp dev to PE. This can often be an easy answer, but you need a good answer that is genuine. For example, if you have only worked on sell-side transactions while in corp dev, you can spin this into a "you don't want to be the grim reaper anymore and want to be in a space where you can actually grow a business." You'd workshop that more but that is a solid reference for the type of answers you'd need to give.
Any thoughts on moving from development team at a US$3bn (publicly listed) renewables focused IPP to the likes of APO / EQT / GIP / power sustainable etc in their infra teams? I have been doing this for 20 months now. My background is in ibanking (3.5 years) and 1 year of LMM PE, all of which are non utilities / renewables / p&u.
Most helpful answer so far. I'm at a ~$2b consumer goods co so will probably try and pivot to consumer PE like LCat or at least a consumer arm
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