Secondment to PE fund

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Secondment to PE fund

Postby Anonymous User » Mon Sep 25, 2017 5:44 pm

Hi guys. 3rd or 4th year corporate associate at a pretty good firm's Los Angeles office.

My firm was asked by one if its larger clients, which is one of the larger PE shops in LA, to submit a candidate for secondment consideration. One of the partners asked me if I would be interested in meeting with them.

I was told it would be one day a week in their office and four days a week in our office. Salary, bonus and class year would not be impacted.

Outside of that, I really have no idea what secondment looks like at a private equity firm. Can anyone offer me some details on how it works--what are hours like, what are weekends like, etc.

I feel like this is an interesting opportunity, as I have zero interest in being partner, but like the idea of going in house and it seems like this could be a good step in that direction. On the flipside, I have a very cushy situation right now--normal arrival time at my office is 9:30/10 with basically no face time and things have been slow. In otherwords, I feel like I would have to give up a good amount of my freedom.

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Mon Sep 25, 2017 5:56 pm

Anonymous User wrote:Hi guys. 3rd or 4th year corporate associate at a pretty good firm's Los Angeles office.

My firm was asked by one if its larger clients, which is one of the larger PE shops in LA, to submit a candidate for secondment consideration. One of the partners asked me if I would be interested in meeting with them.

I was told it would be one day a week in their office and four days a week in our office. Salary, bonus and class year would not be impacted.

Outside of that, I really have no idea what secondment looks like at a private equity firm. Can anyone offer me some details on how it works--what are hours like, what are weekends like, etc.

I feel like this is an interesting opportunity, as I have zero interest in being partner, but like the idea of going in house and it seems like this could be a good step in that direction. On the flipside, I have a very cushy situation right now--normal arrival time at my office is 9:30/10 with basically no face time and things have been slow. In otherwords, I feel like I would have to give up a good amount of my freedom.


Are you a funds associate, or like M&A/cap markets? I'm in a funds group and our group regularly sends people on secondment at clients, but it is usually for 6 months at a time and you work 100% for the fund and not for the firm (still paid by the firm, though). Not sure what they would really have you do for 1 day a week, but the people in our group basically just become one of the in-house lawyers at the fund while they are on secondment. As I said, this is from a funds group though, so the work is likely different than if they are asking for an M&A/cap markets lawyer to come on secondment. I don't know what that would entail.

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Mon Sep 25, 2017 5:59 pm

Anonymous User wrote:
Anonymous User wrote:Hi guys. 3rd or 4th year corporate associate at a pretty good firm's Los Angeles office.

My firm was asked by one if its larger clients, which is one of the larger PE shops in LA, to submit a candidate for secondment consideration. One of the partners asked me if I would be interested in meeting with them.

I was told it would be one day a week in their office and four days a week in our office. Salary, bonus and class year would not be impacted.

Outside of that, I really have no idea what secondment looks like at a private equity firm. Can anyone offer me some details on how it works--what are hours like, what are weekends like, etc.

I feel like this is an interesting opportunity, as I have zero interest in being partner, but like the idea of going in house and it seems like this could be a good step in that direction. On the flipside, I have a very cushy situation right now--normal arrival time at my office is 9:30/10 with basically no face time and things have been slow. In otherwords, I feel like I would have to give up a good amount of my freedom.


Are you a funds associate, or like M&A/cap markets? I'm in a funds group and our group regularly sends people on secondment at clients, but it is usually for 6 months at a time and you work 100% for the fund and not for the firm (still paid by the firm, though). Not sure what they would really have you do for 1 day a week, but the people in our group basically just become one of the in-house lawyers at the fund while they are on secondment. As I said, this is from a funds group though, so the work is likely different than if they are asking for an M&A/cap markets lawyer to come on secondment. I don't know what that would entail.


OP here. I'm an M&A associate. They said the position would be part M&A/funds work/general corporate.

It's a full time thing, but I'd just be in their office one day a week and then at the firm's office four days a week. Six month gig.

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Mon Sep 25, 2017 6:06 pm

You should ask around. I smell some risk of having to do all the work the funds assigns you and also whatever else the firm throws at you.

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Mon Sep 25, 2017 6:07 pm

Anonymous User wrote:You should ask around. I smell some risk of having to do all the work the funds assigns you and also whatever else the firm throws at you.


OP here.

Having to do work for partners here won't be an issue. I know this for a fact.

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Mon Sep 25, 2017 6:09 pm

Anonymous User wrote:You should ask around. I smell some risk of having to do all the work the funds assigns you and also whatever else the firm throws at you.


Agree that this seems to be the only downside. I'd try to get clarity on this from your firm - will you be taken off firm matters? If you want to go in-house eventually I think it's a no-brainer, though.

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Mon Sep 25, 2017 6:10 pm

Anonymous User wrote:
Anonymous User wrote:You should ask around. I smell some risk of having to do all the work the funds assigns you and also whatever else the firm throws at you.


Agree that this seems to be the only downside. I'd try to get clarity on this from your firm - will you be taken off firm matters? If you want to go in-house eventually I think it's a no-brainer, though.


OP here.

This has been made very clear to me that I'll be taken off any matters that continue over and won't be staffed on any new matters (though I can keep my pro bono stuff that I have going).

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Tue Sep 26, 2017 1:09 pm

OP here.

Further to the above questions, can anyone talk about what the work is like for a legal department in a private equity firm?

User avatar
koalatriste

Bronze
Posts: 278
Joined: Wed Jan 26, 2011 10:08 pm

Re: Secondment to PE fund

Postby koalatriste » Tue Sep 26, 2017 1:20 pm

Anonymous User wrote:OP here.

Further to the above questions, can anyone talk about what the work is like for a legal department in a private equity firm?


are you seriously a 3rd or 4th year associate and have no idea what your clients do?

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Tue Sep 26, 2017 1:27 pm

koalatriste wrote:
Anonymous User wrote:OP here.

Further to the above questions, can anyone talk about what the work is like for a legal department in a private equity firm?


are you seriously a 3rd or 4th year associate and have no idea what your clients do?


We help them with formation and transactions. I'm wondering what else might be done on the inside.

User avatar
Vincent Adultman

Silver
Posts: 1097
Joined: Thu May 04, 2017 2:08 am

Re: Secondment to PE fund

Postby Vincent Adultman » Tue Sep 26, 2017 2:02 pm

The other stuff is likely fund and reporting conpliance. So audit letters, correspondence with LPs, corporate governance stuff, etc. etc.

User avatar
koalatriste

Bronze
Posts: 278
Joined: Wed Jan 26, 2011 10:08 pm

Re: Secondment to PE fund

Postby koalatriste » Tue Sep 26, 2017 2:17 pm

honestly, if you have to ask whether to accept a secondment, you've got issues.

not only is the secondment a great experience in terms of quality of life (generally...), it's a huge resume boost for you at the firm and generally.

additionally, how awkward would it be to turn down the secondment offer? i just don't see a reason to not do this and partners will be really confused as to why you did not want this experience.

moreover, the secondment to push-out move is something that K&E uses on the reg. often times secondees at K&E are folks who are OK at what they are doing, but the firm would like to see them move on. so if you're at K&E and you turn this down, you might end up discovering the firms true feelings for you. that's not true for all firms, though - usually a secondment means you are in some form of good standing at the firm.

Anonymous User
Posts: 314105
Joined: Tue Aug 11, 2009 9:32 am

Re: Secondment to PE fund

Postby Anonymous User » Tue Sep 26, 2017 2:28 pm

koalatriste wrote:honestly, if you have to ask whether to accept a secondment, you've got issues.

not only is the secondment a great experience in terms of quality of life (generally...), it's a huge resume boost for you at the firm and generally.

additionally, how awkward would it be to turn down the secondment offer? i just don't see a reason to not do this and partners will be really confused as to why you did not want this experience.

moreover, the secondment to push-out move is something that K&E uses on the reg. often times secondees at K&E are folks who are OK at what they are doing, but the firm would like to see them move on. so if you're at K&E and you turn this down, you might end up discovering the firms true feelings for you. that's not true for all firms, though - usually a secondment means you are in some form of good standing at the firm.


Not going to turn it down, just not psyched about it for the reasons I noted above. I understand that this is a great opportunity, it's just a couple of the small trade offs are important to me. Such is life.

Thanks for all the feedback yall.



Return to “Legal Employment�

Who is online

The online users are hidden on this forum.