hey guys - just wondering what are the key differences in traditional PE vs. principal investing in the energy sector. i have done IB for a couple years and figured it's a good time to switch to the buy-side.
interviewing at a couple places and have an offer from a bank/insurance/investment firm that has $5-10 bn invested in the energy sector. They only do minority investments so no LBOs and such - looking at $50-$150 mm per investment in either direct equity in the asset(s) itself, or mezz/debt/royalty-type structures.
i'm planning to do this 1-2 years and going off to B-school. after which, looking to transition into Traditional PE/HF type roles. It's a small group, great team and looks like I'll be doing a lot of modelling, due dili but obviously not sourcing own deals. Pro I guess when you work at a place like this is you don't have to worry about fundraising, etc.
Couple questions I have are:
1) Key differences in skill sets/experience between traditional PE and my would-be role at this role (investing on behalf of the firm)
2) Whether it'd be easy for me to switch/transition to traditional PE/HF post B-School
3) Your opinions as to whether this offer would be good for me and whether I should take it