What are exit opps if you make it to Principal in PE but don't get promoted to partner at your fund?

Move to another fund or?

Would love a view for both Ops side and Investment side of the house. Thanks!

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For investment side, here’s what I’ve seen (most to least common):
- Stick around as a senior Principal for a few years
- Lateral to smaller fund
- Lateral to equal sized or larger fund
- Corporate exit (‘strategic finance,’ ‘corp dev,’ ‘growth strategy’ etc)
- Transition to more Ops or IR-like role at same fund (maybe the firm likes you but you’re not deploying enough)
- Stop working for a bit (working spouse only)

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Guessing similar answer even with a tech focus?

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