Vice President / Principal, Private Equity

The Opportunity: We're looking for a VP/Principal to join our lean LA investment team. You'll work directly with the Partners across the full investment lifecycle: sourcing, evaluation, execution, portfolio management, and exit. This is a long-term career seat, not a rotational one. We expect the right person to take on more responsibility over time, build their own relationships and track record, and grow into a Partner of the firm.

What You'll Do: Work with Partners on deal sourcing, meeting with investment bankers, industry leaders, and management teams to drive new deal flow Lead evaluation of new opportunities, including sell-side materials, industry and company risk, financial modeling, and financing structure Own IOIs, LOIs, deal summaries, and investment committee materials, refining the thesis directly with the Partners Prepare investment memoranda and market opportunities to lenders and co-investors Take a lead role in execution, including purchase, financing, employment, and management incentive agreements Partner with portfolio management teams on strategy, add-ons, KPI frameworks, and board reporting Build an independent network of bankers, brokers, and deal sources Contribute to firm-building, thesis research, and fundraising support

What We're Looking For: 3–6+ years of private equity investing experience A track record of evaluating, diligencing, and closing control equity deals, ideally in the lower middle market Strong modeling, structuring, and accounting skills A true self-starter who seeks out ambiguity and ownership Analytical rigor plus the interpersonal judgment to earn the trust of founders selling their life's work Excellent written and verbal communication, including experience presenting IC and investor materials Based in Los Angeles or open to relocating over time; candidates in other major markets such as New York, Chicago, or San Francisco may work remotely initially, with regular time in Los Angeles alongside the team Compensation Competitive base salary, discretionary bonus, and carried interest, plus comprehensive benefits. Breakwater is an equal opportunity employer.