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Junior coming up on mid-level associate here. I've been doing mostly M&A and fund formation work at a firm that is near the top (or at the top) of the market in both practice groups. M&A obviously has much broader exit options (geographically and substantively), and I know generally where I could go from there. I haven't heard too much on fund formation exit options in recent years. Was curious as to what other attorneys have seen those folks go into in the last few years from the mid-level and senior levels (e.g. types of jobs and range of comp). Note that this is not "compliance" funds (e.g., SEC compliance, etc.) work but the a practice revolving around drafting partnership agreements, structuring, etc. for the large sponsors. Just trying to get a lay of the land on the Fund Formation side of things.

Bump because also curious.

Different poster and also curious (especially with regards to non-NYC markets).

Also interested

Junior counsel at a megafund, banks, SEC. Rarely the first legal hire at a smaller sponsor.

Is it possible to exit into in house roles doing something more general (so not banks or funds)?

Bumping again, also interested in this

Anonymous User wrote:Is it possible to exit into in house roles doing something more general (so not banks or funds)?

Anon from above. Is it "possible?" Sure. Is it less probable than if you did general corporate? Yes. OP said they are working in a practice that drafts LPAs, PPMs, side letters, etc for major sponsors raising funds. That work isn't applicable to any other type of business. Sure, you can spin your general skill-set, but it will be a harder pitch than some guy who did bread and butter corporate deals for a few years.

Your best bet would still be an exit to a bank/fund/asset manager but try to move into a more "GC"-type role instead of being the in-house guy who reviews outside counsel's drafting.