Fund formation vs Capital markets Forum
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Anonymous User
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Fund formation vs Capital markets
Would be placed in either fund formation (VC/PE) or capital markets (niche client/industry) group. Which one is better in terms of hours, exit opportunities, etc.? I like work and people in both groups.
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oblig.lawl.ref
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Re: Fund formation vs Capital markets
What are your goals? By exit ops I assume you mean in house, is that right? Do you want to work for a fund or a company? Does the capital markets group do any '34 Act work? Does it do mostly debt offerings or does it do IPOs / equity offerings? What kind of deals do they do? I think it would be hard to give any kind of meaningful recommendation based on the info provided.
Group hours often vary based on the group of people, not necessarily these two types of groups unfortunately. I would say my impression is that cap markets often, but not always, works more hours than fund formation but not by much and it will vary firm to firm. If the cap market group is just doing bond / debt offering after debt offering, I think fund formation may have more in-house options at funds. If they do '34 Act work, equity deals and IPOs, that may give a slight edge to cap markets.
You should try to get as good a sense of hours, personalities, recent exits and general quality of life at the two specific groups as you can. That will be much more valuable than what you'll hear here at the very least without more information.
I have more experience with cap markets than fund formation, though. I am also on the west coast and I think it's slightly different in NYC.
Group hours often vary based on the group of people, not necessarily these two types of groups unfortunately. I would say my impression is that cap markets often, but not always, works more hours than fund formation but not by much and it will vary firm to firm. If the cap market group is just doing bond / debt offering after debt offering, I think fund formation may have more in-house options at funds. If they do '34 Act work, equity deals and IPOs, that may give a slight edge to cap markets.
You should try to get as good a sense of hours, personalities, recent exits and general quality of life at the two specific groups as you can. That will be much more valuable than what you'll hear here at the very least without more information.
I have more experience with cap markets than fund formation, though. I am also on the west coast and I think it's slightly different in NYC.
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bwh8813
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Re: Fund formation vs Capital markets
Hours and work can vary within fund formation groups depending on the partners and clients. If you're working with partners that mostly do middle market fund work, it is likely very different than if you're working with partners that do mega fund work. Get a sense of the partners and clients. Of course, not only the hours but your experience can vary drastically depending on the same. And although you might have more responsibility earlier on with middle market clients, the mega fund client may be a better ticket in-house.
