Investment Management Exit Options Forum

[Anonymous User]

So from what I understand, the exit options from a BigLaw investment management practice are basically:

- In-house at fund
- Switch to finance side at fund
- Lateral to firm with investment management practice

Is this right? Anything else? Government options? Public interest options? Are other corporate groups more versatile, or similarly limiting?

[guano]

How about F500 companies with large amounts of investible assets?

[p1arnold]

How about F500 companies with large amounts of investible assets?

This. Very possible. Also think pension plans and universities that invest, etc.

[Anonymous User]

So from what I understand, the exit options from a BigLaw investment management practice are basically:

- In-house at fund
- Switch to finance side at fund
- Lateral to firm with investment management practice

Is this right? Anything else? Government options? Public interest options? Are other corporate groups more versatile, or similarly limiting?

SEC or FINRA.

[guano]

Insurance companies have more money than anyone other than banks

[$$$$$$]

Depends on what type of IM stuff you are doing. Assuming you mean fund formation and investment placements, your exit options include going to the fund formation side of investment firms, in house counsel, SEC and other regulators.

Pretty much no way you are going from fund formation to a financial role at a fund unless you are getting a CFA or have experience doing investment analysis and have connections. The most qualitative investing is done in distressed debt and equities, and even then your skill set is pretty much useless in those areas coming out of IM at a law firm. However, with deal making experience on the fund side, you may be able to switch to investment banking, but even this is really hard because you won't be working with bankers in your day to day as clients to network.

Best bet is to go to a large private equity firm (think Apollo, Blackstone, KKR) and to learn as much as possible about the investment-side or make connections with MD's at funds that way you can back up your legal knowledge with financial knowledge as well.

[Anonymous User]

Thank you for all the help. I actually have no interest in finance side, but just listed it because I'd heard people say it's been done. What are some of the things regulatory agencies look for in candidates from firms? Highly rated IM practice? Prestige of firm generally? School/grades? How many years of experience do I need before I could start thinking of something like the SEC or FINRA? (I understand that for in-house, 3ish years is the norm -- just curious if it's different for government stuff.)

- OP