What deal experience (TEV) is required to be a competitive candidate for a lateral move into UMM PE or the higher end of MM PE (e.g., firms like Berkshire Partners or Charlesbank) from a mid market/slightly lower mid market fund. Also, important is actual deal closure versus securing internal committee (IC) approval but losing on price?

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I don’t think it’s about TEV. Charlesbank for one will do deals from $100M to +$1B. It’s more about what sort of things you did in your previous role, for example types of modeling, types of market diligence, portfolio management, ability to negotiate an SPA (which it sounds like you didn’t get to). Sector experience will also be pretty important. All in all, if you’re looking to come in at the mid level, I think it’d be essentially impossible if you’re not coming from a peer firm where you were essentially doing the same exact things that you’d need to be able to do at Charlesbank.

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I guess I’m trying to understand if you’re at a firm focusing on 100-300 tev can you realistically have the work experience to lateral to a Berkshire or charlesbank probably moreso 100-1bn. The scale isn’t there but I’m not sure how different the work would be. Is the scale of 200-300tev enough and almost closing a deal vs fully closing differences

Wdym by securing IC approval but losing on price? IC approval for the LOI bid? You never got it under exclusivity?

They wouldn’t think you’re bad or anything (it’s out of your control), but you have less reps. Not ur fault, but still has consequences.

Cant speak to the EV.

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