A recruiter reached out to me about a fund accountant position at a PE firm. The company is growing a lot, but don’t know much about fund accounting outside of reading online. Is this solid experience that could transfer to other jobs after? I don’t know any fund accountants but would love some insight.

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You’ll forever be a drone if you take this job

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Many of my clients are investment companies, so also fund accountants but not exactly PE. From what I see, their work is a bit more fun than traditional accounting. They really dive deep into valuation and some of the fund accounting specific guides like Asc 946. A lot of internal reporting and investor relations too. But for the same reason you don’t get experience in basic accounting stuff like ar ap inventory revenue and cogs. So I’d guess one has be to committed to the financial service industry to do fund accounting. Just personal opinion from a limited angle

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It’s worthwhile but you can end up “stuck” in those types of roles. Back-office work isn’t glamorous but you can do well with it. Your exit ops may be limited to other fund accounting roles.

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It depends on if you want to stay in that industry

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