Private Equity within Private Wealth Management?

Hi WSO,

Any thoughts on PE as a function of private wealth management? Is it legit? Do people see it as legit? Are there exit opps to PE?

I'm interviewing for a firm that's similar to this description of a PE group within PWM. Example:

"Wilshire Private Markets currently manages nearly $5 billion in client assets from a global investor base of more than 100 institutions and has been providing private equity services to clients for 27 years, investing in primary partnerships, secondary partnership interests and co-investments with an exclusive focus on private equity."

Much appreciated!

 
Best Response

Some PWM firms will recommend certain private equity funds to their clients or have a fund-of-funds. We've had a couple PWM groups run through our data room and do some on site diligence. The groups that have I've encountered are pretty unsophisticated with their analysis and require a decent amount of hand holding in areas I would consider pretty elementary for a mid-market private equity associate. Based on this, I suspect transition to a standard PE would be a challenge.

 

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