Interesting situation going on. Currently VC associate at MM fund, serving in Transformation role at PortCo. PortCo CEO resigned, who I reported to. PE fund likely getting booted by the bank and my ties have mostly been cut with PE fund. Bank is bringing in outside firm (mostly ex-Alvarez/turnaround types). Worried mostly about job security. What are your thoughts?

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so which one is it, are you a VC associate at a MM fund or are you doing a transformation role at a portco? Those are different things and the answer to your question is different depending on which one you are

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Of course it’s different. A fund level VC Associate would just shift focus to one of the 20 other assets in the portfolio. The portco-level transformation role would cease to exist

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I’m confused. Are you an associate at the PE firm or work full-time at the portco? How does a PE fund get booted by the bank?

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When a portco breaks their loan covenants and the fund and lenders can’t work out a debt restructuring, the lenders take the asset (the collateral for the debt).

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Id leave asap

First, is it a given that your fund won’t redeploy you? Would be good to understand that. If only opp is at this portco, then why act preemptively? I think the main q is how important is your work to the portco? If superfluous, odds are not good. If you have a lot of understanding of the business and optimizing actions, this could wind up being an opportunity.

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