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Investment Banking - Private Capital Advisory, GP-Led Secondaries - Associate
mid · Investment Banking
We are seeking a highly motivated Associate to join the Secondary Advisory team of Private Capital Advisory & Solutions, with a focus on GP-led secondary transactions. The team advises private equity sponsors and other alternative asset managers on liquidity and capital solutions across the private-fund lifecycle. Transactions may include single-asset and multi-asset continuation vehicles, preferred equity solutions, and other structured secondary transactions. The Associate will work closely with senior bankers, financial sponsors, portfolio-company management teams, secondary investors, limited partners, legal counsel, and other transaction advisers. The role provides significant exposure to transaction structuring, financial analysis, valuation, marketing, and end-to-end execution within the growing private-capital secondary market. The Associate will work in a collaborative, apprenticeship-oriented environment with meaningful responsibility and direct interaction with senior members of the team, including leading key workstreams and guiding junior team members.
Job Responsibilities
- Support and drive the origination and execution of GP-led secondary transactions, including single-asset and multi-asset continuation vehicles
- Own core analytical workstreams and oversee day-to-day modeling and valuation efforts, including operating models, valuation analyses, LBO models, investor return analyses, and continuation vehicle capitalization models
- Review and refine presentations, pitch books, confidential information memoranda, management presentations, investor materials, process letters, and internal approval materials
- Coordinate and manage workstreams across industry coverage teams, M&A professionals, capital-markets teams, legal counsel, tax advisers, accounting firms, and other transaction participants
- Help run the diligence process, including preparation and management of virtual data rooms and coordination of due-diligence requests across clients, management teams, investors, and advisers
- Support investor outreach and process management, including maintaining buyer lists, outreach logs, process trackers, and bid-comparison materials; assist in managing timelines and communications across parties
- Monitor and synthesize GP-led secondary-market activity, investor appetite, fundraising trends, pricing dynamics, and relevant precedent transactions to inform client advice and positioning
- Maintain and enhance internal databases covering secondary investors, transaction precedents, market activity, and sponsor relationships
- Support senior bankers in client meetings, business-development initiatives, and strategic discussions with financial sponsors; contribute to meeting preparation and follow-up materials
- Coach and develop Analysts, including providing guidance on modeling, materials preparation, and execution best practices (as applicable)
Required qualifications, capabilities, and skills
- Bachelor’s degree with a strong academic record
- 3–5 years of relevant experience in investment banking, private capital advisory, private equity, secondary investing, transaction advisory, valuation, or a related field
- Excellent quantitative and analytical skills with a strong understanding of financial statements, accounting principles, corporate finance, and valuation methodologies
- Strong written and verbal communication skills
- Exceptional attention to detail and commitment to producing accurate, high-quality work
- Organizational skills with an ability to manage multiple assignments and work effectively in a fast-paced, transaction-oriented environment
- Strong judgment, integrity, professionalism, and discretion
- Demonstrated interest in private equity, private markets, and secondary transactions
Preferred Qualifications
- Familiarity with GP-led secondaries, continuation vehicles, or private-fund structures
- Experience with leveraged-buyout modeling, private-equity transactions, or sponsor coverage
- Understanding of private-equity fund economics, including management fees, carried interest, fund waterfalls, and limited-partner elections
- Knowledge of secondary investors, financial sponsors, and institutional limited partners
- Experience reviewing junior work product and managing discrete workstreams (preferred)
This role encompasses the performance of regulated activity. The successful candidate will therefore be subject to meeting certain regulatory requirements.