A Busy Deal Sheet Doesn’t Always Build a Better Investor

When I look at the VPs and Principals I’ve placed on the buy-side over the years, there are always a few common denominators that separate the truly high-performing — and easily placeable — from those who are solid but not quite breaking through.

The ones who stand out are often the ones who were able to build deal muscle earlier in their careers.

This is something I encourage candidates to pay close attention to when evaluating their next move. It’s also something I suggest fund leaders think about when shaping roles that will attract and develop strong long-term talent.

A simple framework I often discuss: In the first 2–3 years, high-potential investors need:

➡️ Healthy deal flow — being staffed on enough live transactions to see how deals actually move from first look to close. Volume matters.

➡️ Real ownership — being responsible for key parts of the work, not just supporting from the sidelines.

➡️ Access to decision-making — hearing how partners debate risk, price, strategy, etc.. This exposure helps younger investors understand what really drives a “yes” or a “no.”

➡️ Post-close exposure — seeing integration challenges, board dynamics, and performance issues builds a more complete investment perspective.

Without these elements, a career can look very busy on paper but grow more slowly underneath. Some professionals get years of growth in 18 months. Others stay comfortable and don’t realize they’re not being stretched.

The funds that consistently build strong leadership benches are not just disciplined investors. They are intentional builders of investors.

For candidates, this can be a useful lens when assessing a role. And for fund leaders, it can help shape how your future leaders are formed.