Dartmouth Partners

We recently released our first Credit Compensation Guide - a detailed look at how pay, bonuses and progression are shifting across private credit as the market continues to mature. Private credit has grown rapidly over the past decade, but the past 18 months have brought a new set of dynamics: evolving fund structures, increased portfolio complexity, heightened competition for talent and a renewed focus on restructuring and workout expertise. These changes are reshaping both compensation expectations and hiring priorities across the sector. This guide provides a data-driven view of: • How compensation has moved across Analyst to MD levels • Where pressure is emerging - and where pay is rising • The skills and profiles now most in demand • How firms are adjusting their talent strategies for 2025 Whether you are benchmarking your team, planning your next hire or assessing your own positioning in the market, this guide offers the clarity and context needed to navigate an increasingly competitive talent landscape. Request your copy of the report here: https://lnkd.in/es8fWxtT

What a great end to our 2025 Women in Private Equity series! Last week, we wrapped up with our final breakfast event in London, featuring exceptional speakers from large-cap funds. It was an inspiring morning, and we’d like to extend our thanks to our guests, whose enthusiasm and determination to explore careers in private equity have been truly inspiring. Some key learnings from the morning: • Many funds differ in structure, culture, diversity, and team setup - this is why speaking directly to people at each firm is essential to understanding fit. • The importance of genuine sector interest; private equity is a long-term career, not a stepping stone, so choose a path you truly enjoy. • Prepare for commercial case studies by building your own cases, staying curious, and avoiding overly rigid frameworks. • The breadth of the associate role - from subsector research and expert calls to portfolio company work and investment screening. • The soft skills that matter most: confidence, communication, relationship-building and the ability to manage complexity. • The value of maintaining balance and wellbeing, and staying grounded while navigating a demanding environment. • Practical advice for early-career professionals, including seeking feedback regularly and staying true to your own style and strengths. At Dartmouth, we firmly believe that prioritising diversity at the junior talent level creates long-term success within organisations. We remain committed to making a positive impact for our clients and the talented candidates we work with. A special thank you to our fantastic speakers, and the sponsoring funds Advent, Bain Capital, CD&R, Cinven, Hg, KKR and Warburg Pincus LLC.

We are excited to announce that the 2026 LSE Alternative Investments Conference applications are now open! LSE AIC is the world’s largest student-run investment conference, described by the Financial Times as “a chance for the best brains in asset management to meet”, and we are proud to be taking part. Attending LSE AIC offers opportunities to: - connect with leading figures in alternative investments, - gain exclusive insights into industry trends from renowned speakers, and - build a valuable network of peers and professionals in asset management, private equity, hedge funds, and more. In 2025, the conference featured an impressive speaker lineup, including Jonathan Lavine (Bain Capital), 🗽Boaz Weinstein (Saba Capital Management, L.P.), Robyn Grew (Man Group) and Drew Gillanders (Citadel). Stay updated on speaker announcements and sponsor line-ups by following LSE Alternative Investments Conference. To join the 2026 conference, fill out this application form: https://bit.ly/3M6vPYT

AI is no longer a distant concept in Corporate Development and M&A - it is beginning to transform how teams source opportunities, analyse markets and execute deals. In our latest article, Richard Madgwick and James Done unpack this shift, drawing on insights from a recent roundtable they hosted with senior leaders across the Corporate Development and M&A landscape. The discussion explored how AI tools are already being used across the deal cycle - from accelerating market research and deep-dive analysis, to drafting materials, shaping strategic thinking and improving overall execution speed. As AI moves from experimentation to structured integration, understanding its impact is now essential for professionals at every level. Read the full breakdown here: https://bit.ly/43Z4b6b

It's live! Our first-edition Infrastructure Industry Compensation Guide is a comprehensive looking at how pay is evolving across one of the fastest-growing areas of private markets. https://lnkd.in/ecXQFqE5 Drawing on extensive market conversations and sector research across mid-market funds, large-cap platforms and limited partners, our guide breaks down compensation across roles, levels and strategies - highlighting where pay is rising, where pressure is emerging, and how firms are adapting their talent models in a rapidly changing market. Whether you are hiring, benchmarking your team, or planning your next career move in infrastructure, this guide provides you with the realtime data and insight needed to navigate an increasingly competitive space. Request your copy today: https://lnkd.in/ecXQFqE5

Throughout October, our Early Careers team has been busy hosting panel discussions with leading universities across London and the UK. This is always a peak recruiting season, but it’s also an incredible opportunity to connect with candidates in person and share insights about careers in finance. Key takeaways from these events: - Students truly value practical advice and guidance on navigating their career journey. - In-person networking remains invaluable - candidates appreciate the chance to build real connections. - Many are proactively securing internships through cold emailing and calling - proof of their determination to break into the industry. It’s been a pleasure engaging with so many talented individuals, and our Early Careers team looks forward to delivering more sessions - both in person and virtually. If you’re interested in partnering with us for future society events, please reach out to our Early Careers team at gradteam@dartmouthpartners.com or find out more here: https://lnkd.in/eChxXQbx

We are excited to launch our Equities and Multi-Asset Compensation Guide - a comprehensive look at how pay is shifting across one of the most competitive areas of the market. https://lnkd.in/eBQRVccN As volatility, performance pressures and structural change continue to reshape Equities and Multi-Asset teams, understanding compensation trends has never been more important. Our new guide brings clarity to an increasingly complex landscape, offering a detailed breakdown of base salaries, bonuses and progression across roles, seniority levels and firm types. Built from extensive market conversations and real-time insights, the report highlights where compensation is rising, where firms are holding steady, and how hiring dynamics are evolving. Whether you are benchmarking your team, reviewing your own position in the market or planning ahead for 2025, this guide provides the context you need to make informed, confident decisions. If you work within Equities or Multi-Asset - or partner with teams that do - this is essential reading. Request your copy of the report here: https://lnkd.in/eBQRVccN

Are you looking to understand what a career in large-cap private equity really looks like - and how to break into one of the most competitive areas of the industry? One week today until our last Women in Private Equity event of 2025, focusing on large-cap private equity firms. https://lnkd.in/ef8cPuuQ Following the success of our mid-market breakfast, this next event brings together senior women from some of the most established and influential large-cap funds for an in-person morning of insight, honest discussion, and practical career guidance. Designed specifically for female professionals in the early stages of their careers, this breakfast offers a unique opportunity to: • Understand the realities of life at leading large-cap PE firms • Gain clarity on the deal cycle, investment responsibilities and progression pathways • Hear candid reflections from women who have navigated - and succeeded in - the large-cap environment • Ask questions, seek advice and build connections with experienced investors • Meet peers also exploring their next steps in private equity Large-cap PE can feel opaque from the outside - this event aims to make it accessible, transparent, and inspiring for those exploring a move into the industry. With our last event oversubscribed, spaces are extremely limited. If you’re serious about exploring a future in large-cap private equity, we strongly recommend securing your place as soon as possible. Secure your spot here: https://lnkd.in/ef8cPuuQ

The London investment-banking analyst market is showing signs of a quiet comeback - and the implications are meaningful. In his latest article, Raees Mahmood examines how compensation for analysts in London is now rising again after a period of downward pressure. Despite the subtle nature of this shift, it signals renewed market confidence and a changing hiring dynamic. He explores how the rebound is not just about pay, but also about the broader narrative: firms are poised to invest again in early-career talent, signalling optimism for new entrants into the industry. For analysts and aspiring candidates alike, the timing could present a real opportunity. Read the full article here to understand what’s driving this resurgence and how you can position yourself accordingly: https://lnkd.in/ehiDnj8C

Last week, we hosted our Women in Real Assets event - and what a great morning it was. A full room, an outstanding panel and an atmosphere full of energy. We brought together early-career women exploring Real Assets with leaders from across the industry, including Oriana Liétar, Eugenia Garrote Solé, Puneet M. and Jessica Boyens. Our speakers highlighted what makes a career in infrastructure private equity so compelling: the blend of purpose and performance, the opportunity to shape the assets society relies on, and the chance to grow in a sector that’s evolving at pace. From career paths and misconceptions to skill sets, deal dynamics, culture and the future of infra, the discussion was rich and incredibly motivating. For candidates, the message was clear: there is significant opportunity for women to build long-term careers in the infrastructure sector. For clients, diversity in Real Assets isn’t just important, it’s essential to strengthening teams and shaping the industry’s future. Thank you to everyone who joined us and made the morning so impactful, and thank you to our speakers and firms KKR, EQT Group, MORRISON and DTCP. If you’d like to continue the conversation, speak with our team - and stay tuned: our next event is coming in Q1!