Anyone think I have a realistic shot at transitioning to an investment bank? Attorney from a non t14 school, (t50), no big law experience, but several years as GC of consumer brand (nine figure exit) and several years handling small dollar (under $15M) transactions in my own practice. Been practicing 10 years.

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As internal counsel or as an advisor?

As counsel, I'd say yeah. Might not be bulge bracket, but if you look long enough, I have to imagine there is some mid market advisory firm out there that would view your GC experience as a value-add. You might not come in as a GC (they might want to see more transactional experience and a securities background for that), but I can't imagine that title would be too far off for you if you put in the work to learn.

If as an advisor: first question is why? It sounds like you'd need some significant retooling and would need to come in pretty low on the totem pole. That one would be a stretch, if that's what you're looking for. With your experience you could make more money and have a (much much) better life simply continuing to practice law in your own or another firm (or go back in-house). Those analyst and associate positions are no cakewalk.

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I hadn’t worked with independent sponsors in any deal in the past, but looking it up sounds really interesting. Any books or resources you could recommend?

I read HBR Guide to Buying a small business awhile back. I don’t think they ever called it “independent sponsor” but that sounds exactly like what they detail in the book- and what I’m looking to get into. Thanks!

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That HBR Guide is an SMB Bible. Neglected to mention that you could also accomplish your purpose via a Search Fund.

I'm gonna do something my firm would prolly see as verboten and recommend following another lawyer on Twitter/LinkedIn: check out Eric Pacifici/SMB Law. Eric posts some really good content for searchers, and I wouldn't be surprised if he has some good recs on independent sponsor stuff that he'd point you. If he tries to charge u for that he's nuts. I do more growth equity stuff so this level of detail in SMB acquisition is not in my bag, but it's certainly exciting. I sincerely hope you pull off a big deal and get rich!

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Wow, this is all so helpful. Thanks so much! Really appreciate it!

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