From a PE Recruiter’s Eyes: “Layoffs Are A Function Of Fund Size”
With murmurs that PE firms may not be immune to layoffs (and proof of that rumor trickling in), what’s a private equity recruiter to do? I asked Todd Monti, head of the PE practice at global executive search firm Heidrick & Struggles what's going on with the private equity job market. So your firm recruits upper level private equity pros. That must be tough if there aren’t any openings to fill. What are you seeing there? It really depends on the amount of assets under management and how much of it is deployed versus dry powder. Firms that have access to capital are being opportunistic in hiring. It’s a wait-and-see approach with a lot of questions. The main hiring I’ve been doing is when a fund has just been raised and the firm feels a need to supplement the team. The second category of firms hiring is the firms that are starting to view distressed as an opportunity. A number of firms are bringing in turnaround pros. What about layoffs?
