Coastal Partners¶
Background¶
Coastal Partners is a recruiting firm specializing in business development and deal sourcing roles at PE firms, family offices, and independent sponsors. The practice is led by Deal Sourcery co-host Matt Rooney, who characterizes it as "a recruiting business" where "knowing market compensation is table stakes to be an effective recruiter, both from advising firms, but also candidates" (Ep. 11).
Coastal Partners publishes an annual Business Development Compensation Survey focused exclusively on dedicated BD professionals in PE. In Ep. 11, Matt describes the survey as "one of the most influential things for our business" and says it's "equally as valuable for candidates that are out there negotiating and kind of just considering opportunities".
Business Development Compensation Survey¶
The 2024 edition — the second iteration of the survey — drew 259 respondents out of approximately 824 identified dedicated BD professionals in the industry, a ~31% response rate (first edition had ~150 respondents). Matt's 2024 findings as discussed in Ep. 11:
- ~11% YoY increase in base salary from 2023 to 2024, across all seniority levels and fund sizes
- ~11.5% YoY increase in bonuses over the same period
- Carried interest allocation breaks sharply at the VP level: 0% of participating analysts have carry, ~20% of associates, ~26% of senior associates, 72% of VPs, 75% of directors and principals, 100% of MDs and partners
- Geographic concentration: ~31% of respondents were in the Northeast; ~7% on the West Coast; roughly proportional to where PE firms cluster
- Fund size distribution: 62–63% of respondents were at lower middle market firms; 42% of firms with at least one dedicated BD professional have fund sizes between $250M and just under $1B
Methodology: the survey is sent to "anyone and everyone" Coastal Partners has identified as being in a BD role at a PE firm, family office, independent sponsor, or similar setup. Matt defines the in-scope role as someone "who would characterize themselves as fully focused on sourcing" — as opposed to an investment professional with a heavy sourcing component.
Key Personnel¶
- Matt Rooney — Leads the BD recruiting practice; author of the annual BD Compensation Survey. Co-host of Deal Sourcery.
Appearances¶
- Ep. 11 (The Ultimate Guide to Deal Sourcing Compensation, Part 2) — Matt walks through the 2024 edition of the Coastal Partners BD Compensation Survey.