Responsibilities in a Private Equity Fund


  • No previous private equity experience
  • Maybe 1-3 years investment banking experience
  • Probably pre MBA although may be recently qualified accountant 
  • Providing support to more experienced team members
  • Financial modelling and analysis
  • Market research
  • Involved in some external meetings
  • Post investment monitoring of management accounts 
  • Challenging amount of responsibility
Career progression
  • Generally about two years as an analyst before promotion to associate / investment manager

Associates / Investment Managers

  • Similar to analyst with an additional two to four years of relevant experience gained in a pe house, investment bank, transaction support team or consulting environment working on private equity or similar transactions. Can enter as an associate or be promoted from analyst to associate
  • Reviewing applications
  • Running parts of the transaction
  • Supporting the more experienced team members in negotiations and on execution
  • Starting to take responsibility for negotiating banking arrangements
  • Starting to build a contact network
Career progression
  • Generally two to three years in this role before promotion to a VP / Assistant Director / Associate Director

VP / Associate Director / Assistant Director

  • Usually three to six years private equity investment experience before promotion to the level. Rarely recruited from outside private equity. May be recruited from another private equity firm
  • Starting to source and lead mid-market transactions, playing a significant role on larger transactions. Self-sufficient and require experience to get to Investment Director / Principal level 
Career progression
  • Two to three years in this role before promotion to ID/Principal. Carried interest starts to ramp up

Investment Director / Principal

  • Minimum five to six years private equity experience. Always promoted from within or occasionally recruited from another private equity firm
  • Generally running deal teams, responsible for execution process, have decision-making responsibility and be one of the main points of contact externally for the business
Career progression
  • May be at this level for some years. Minimum of two to three years to promotion to Director - depends on firm model

Partner / Director

  • Experienced private equity professional, near top of firm
  • Origination 
  • Less hands-on involvement in transaction execution
  • Board seats and post investment role 
  • Strategic decisions about the firm
  • Key role in fundraising
Career progression
  • Increasing involvement in carry
  • Management succession within the firm offering opportunities
  • Heading international expansion within or outside of the firm