Private Equity International has published its Future of Private Equity special edition this week, featuring its much anticipated list of 40 under 40: Future Leaders of Private Equity. As part of the issue, the editors asked PER’s Principal Consultant and Head of DACH, Rupert Bell, to offer some advice on retaining mid-level talent.
Rupert highlights the challenge of giving experienced investors an enticing career path within their firms when incumbent partners are not rotating out. Otherwise, he says, many will be tempted to set up shop on their own to push through the glass ceiling or migrate across to firms offering more opportunities for progression.
With mid-level professionals in demand in this tight recruitment market, Rupert recommends a focus on development and recognition to retain the future leaders of private equity. In some cases, firms have reacted by offering leadership roles in emerging markets, enabling transfers between fund strategies or creating in-house specialisms.
In an industry known for its entrepreneurial spirit, Rupert says it’s also important for growing firms to nurture culture so they don’t become too corporate in their structures or the way they treat their people. Now more than ever, he says, professionals are driven by non-financial factors such as transparency, ESG, diversity and the emotional intelligence of the leadership when deciding where they want to work.
Click here to read Rupert’s full column and explore Private Equity International’s Future of Private Equity special edition.