How have you seen Senior ppl getting pushed out?
Title says it all. Recently been wathcing a lot of senior level turn-over at my firm. Some of these can be pretty cruel considering these people are all in their 40/50s and have families that depend on them.
How have you seen senior people getting pushed out in PE? What are usual precedent signs and how does it usually happen?
Comments (5)
Yes, usually associated with bad deals (not always the senior person's fault) or poor reputation (especially with management teams)
This happens all the time - how else do you create spots for new partners?
Most/all of these 40+ people have made enough in their careers that they should be perfectly fine financially so long as they managed to keep expenses in check - which is a good reason to avoid lifestyle creep in the first place.
up or out
this industry is fickle
Yeah, underwrite a bad deal (i.e. capital loss) and the partner in charge of the deal probably gets canned.
That is unless he/she has either I) stellar track record and this was a one-off ii) have other currently active investments that are tracking to be homerun deals (ex. 5.0x+ MOIC)
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