Networking Best Practices: PE

Networking Best Practices for Breaking into Private Equity

Breaking into private equity is competitive at every level, but the process is especially nuanced for investment bankers aiming to make the traditional two-year jump. While your deal sheet and technical skills matter, your network is often the deciding factor. Here’s how to approach it with precision.

1. Target the Right Firms and People

Identify firms whose sector focus, deal size, and geography align with your IB experience. Research their portfolio companies, recent exits, and team structure. Aim to connect with associates and VPs who recently made the same transition, as they can give the most relevant advice.

2. Build Relationships Before You Need Them

Recruiters and PE professionals can spot transactional outreach immediately. Start conversations months before you actively recruit. Engage with professionals on LinkedIn, comment on their thought leadership, and share relevant articles or insights to stay on their radar.

3. Use Headhunters Strategically

Headhunters play a central role in PE recruiting, but they work for the client, not you. Approach them prepared with a clear narrative, your top deal experience, and a focused list of target funds. Ask what their clients are prioritizing so you can position yourself accordingly.

4. Make Cold Outreach Warm

Whenever possible, get introduced through mutual connections from your bank, school, or past deals. If you must reach out cold, make your email personal by referencing a recent deal the firm closed or a relevant sector trend.

5. Treat Informational Interviews as Auditions

Every coffee chat is a chance to showcase your fit. Be ready to discuss recent deals you worked on, lessons learned, and your investment philosophy. Ask thoughtful questions about the firm’s strategy, portfolio management approach, and culture. Always follow up with a thank-you email that includes a relevant article or insight related to your conversation.

6. Attend Industry Events with Intent

Events like ACG InterGrowth, local ACG chapter meetings, and sector-specific conferences offer direct access to dealmakers. Research attendees beforehand, set goals for who you want to meet, and follow up within 48 hours while the interaction is fresh.

7. Track and Nurture Your Network

Keep a running log of your outreach, meetings, and follow-ups. Relationships in PE compound over time, so stay in touch even after the recruiting process by sending occasional check-ins or sharing insights that are valuable to them.

Final Word
Breaking into PE from investment banking requires more than strong technical skills. The best candidates are proactive, targeted, and consistent in how they build and maintain relationships. Treat networking as an ongoing process rather than a one-time sprint, and you will increase your odds of landing the offer.