Fund Formation Attorney - Very lost... Forum

[gpwak1]

I'm a 5th year fund formation attorney in biglaw (NYC, v100). I did general corporate work (but NOT M&A) for two years at another biglaw firm before coming to the current firm. My current firm is not known for fund formation practice at all. It's a tiny group and I'm basically the only associate. Even recruiters are surprised when I tell them that I do fund formation at my current firm and tell me that they had no idea my firm did fund formation.

In any case, I'm not too passionate about fund formation law. I just do the work that's given and log off. I'm not ambitious, and I prefer receiving instructions and doing solid work that's asked of me. I just found fund formation to be straightforward and the most easy to understand when I was a junior, and kinda escaped the previous firm where I had to do a bunch of other corporate work that I hated.

At the current firm, I don't bill much (about 1600 hours per year), but I don't get paid market either. It looks like they're fine with my billables (since I'm still not fired), so I'm just cruisin, but from time to time, and more recently, I get very anxious about my prospects. Like, when I eventually get pushed out since I'm not interested / aiming to become a partner, what do I do ? Where do I go? Again, it looks like my current firm is not a cut throat place where they kick you out when you're a 6/7 year, but still, I just think at one point, I have to leave this place.

I've sent my resume to fund managers for in house roles this year and didn't hear back. For the fund managers that were willing to interview me (prestigious places didn't even interview me, which is totally understandable), dinged me and gave me feedback afterwards that they want someone who's actually negotiated side letters (which I have not done yet).

I'm not super passionate about funds practice anyway so I'm also sending my resume to a bunch of general corporate in house positions, but I haven't gotten any interview requests.

And of course, every recruiter I talk to keeps pushing me to lateral to a better law firm with a better reputation within the funds space, so that I can have better exit options.

I'm just rambling, but my fears about lateraling are:

1. I cruised so far in my biglaw career (I somehow managed to always bill 1600 hours and got by) and I don't know if I can handle insane hours.
2. I'm also not sure if I've just fallen so behind in terms of funds skillsets and knowledge and I'm not sure if I'll do a good job at a new law firm
3. is it actually true that i'll have better exit options if i lateral to a law firm with a decent funds practice group
4. Is exiting to an in house role at a fund even a right plan / goal for me when I don't even wanna work insane hours at a prestigious fund as an in house attorney?
5. Since I'm not too passionate about funds anyway, should I re-tool to a different practice group?????

I like my current firm because:

1. I can get by billing 1600 hours a year
2. people in the group are nice
3. I think I can just stay here (and become that really old associate)

But the downside of staying at my current firm includes:

1. I'm definitely not learning as much as other funds associates who (I imagine) are consistently managing numerous fund closings.
2. unsure of future prospects if I'm let go of, or if anybody in my group leaves
3. it looks like it has zero presence / reputation in the funds world, so i really have to work hard if i wanna exit in house.

I know I sound like an idiot, but I'm just one of those people that went to law school because their parents told them so, and I really have no interest in law (but I don't dislike it so much to a point where my life is miserable).

Any word of wisdom / advice is greatly appreciated… thank you.