As I explore a search fund as a career path, a clear point of consideration is what if things don't work out and what are the career implications.


1) if you're part of the 33% who did not find a good enough deal to invest in, how can you spin your experience of having searched for ~2 years and failed to have acquired a business?

2) if you're part of the 17% of searchers who do acquire but end up losing your/investors money?

Of course not acquiring is preferable to acquiring a bad company and is the best decision, but it would be good to hear experiences around the career implications of both "negative" outcomes, especially in a UK context.

Many thanks!