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January 2027 - Internship Private Capital Advisory (PCA) - Secondaries – Paris
internship · Investment Banking
January 2027 - Internship Private Capital Advisory (PCA) - Secondaries - Paris
Lazard is one of the world’s leading financial advisory and asset management firms. Our people make the difference. With just over 3,000 employees, our tight-knit community allows for professionals eager to learn and willing to teach to connect and grow together. We believe that inclusion, diversity, equity and allyship are not just business imperatives- they are central pillars of our employee experience. Our entrepreneurial culture and flat structure allow creative ideas and original concepts to drive our business forward – and for careers to take flight.
Through our financial advisory business, Lazard advises clients around the world on strategic and financial matters including mergers and acquisitions, restructurings, capital structure and capital raising. Our client relationships are built on trust and discretion. As the world’s largest advisory-focused firm, we have exceptional depth of expertise across industry sectors and geographies. We value the rich diversity that comes from blending local perspective with our global network.
Intern Private Capital Advisory - Secondaries
Lazard Private Capital Advisory (“PCA”) is a global business with 9 offices across the U.S., Europe and Asia. The team is comprised of over 80 professionals across two core markets: primary fundraising and secondary advisory. PCA clients include a broad of range of leading private equity, real estate, debt and infrastructure managers and investors who pursue investment opportunities within these alternative investment spaces. Lazard PCA is a recognised leader in these markets and one of the longest tenured firms operating in the space.
Secondary Advisory: Lazard advises (i) institutional investors (“LPs”) seeking to generate liquidity from their alternative investment portfolios and (ii) sponsors across private equity, real estate, credit, etc. (“GPs”) seeking to return liquidity to their investors in the form of GP led secondary solutions. Lazard advises our clients on these transactions through, amongst other things, the preparation of materials, financial modelling, new investor / buyer outreach and interaction, process management, etc.
Interns will be actively engaged in all aspects of Secondaries processes across various mandates, typically working with multiple clients simultaneously, each likely at a different stage of the process and business development.. Our deal teams are typically formed of 3-4 PCA professionals, comprised of a PCA analyst working with an Associate + 2 of the following: VP, Director, Managing Director. We also staff GP-led deal teams in conjunction with both our sector and international M&A teams to leverage their specialist knowledge and generate the optimal outcome for our clients.
An Intern will therefore typically be expected to undertake/assist with:
The building of information materials on companies we are marketing as part of both LP-led and GP-led secondaries processes
- The new investor / buyer outreach process as part of live transactions
- Financial modelling of companies in both LP-led and GP-led secondaries processes (LBO / DCF) as well as fund level modelling for our sponsor clients
- The preparation of presentation materials and pitches for prospective clients
- Communicating across M&A teams we are working with on processes as well as the broader PCA team globally
- General transaction management on live processes
Creating our bi-annual secondary market updates that are published externally
You’ll need to have
- Relevant work experience (investment banking, private equity, consulting, transaction services, etc.)
- Secondaries experience preferred but not essential. Candidates without secondaries experience will ideally be expected to have done some research into the market prior to interviews though
- Training and baseline skills in the building of presentation materials and financial modelling. We will provide additional training but some baseline skillset to work with would be preferred
- Proven academic excellence
- High energy individual with a strong ambition to excel in their career
- Strong interpersonal & communication skills
- Team player mindset. Ability to work well as part of a close-knit team
- Strong written communication and analytical skills, excellent attention to detail and high standards of accuracy
- The ability to maintain high standards of professional and ethical conduct, adhere to legal and regulatory requirements and follow Lazard policies and procedures
- Be fluent in French and English is essential
What’s in it for you?
We strive to enhance the total health and well-being of our employees. Our goal is to support and enable our people to balance their commitments to career, family and community. We believe in an employee experience that is a highly individualized. We listen to what our people need and want, and create programs and initiatives designed to inform, include, and connect. When you work for Lazard, you are working for an organization that will continue to invest in your career and development.
Diversity, Equity and Inclusion at Lazard:
Lazard is an intellectual capital business focused on delivering the best advice and solutions to clients. Achieving these objectives requires us to identify, develop and retain the best talent. A workforce comprised of people with varied backgrounds and experiences creates a rich diversity of thought that empowers us to challenge conventional wisdom, as diverse perspectives lead to better decisions.
Our appreciation of diversity’s strength is ingrained in our multi-cultural heritage. As a global firm that has grown organically from local roots in different countries, we have a deep tradition of respect for individual differences, which has been core to our success for several decades. The ongoing cultivation of diversity and an inclusive, equitable culture are essential to our continued growth.
We are committed to sustaining an environment in which all employees – regardless of age, disability, gender reassignment, marriage or civil partnership status, pregnancy or maternity, race, religion or belief, sex or sexual orientation (known as "Protected Characteristics") – can bring their whole selves to work to maximise their individual potential and our collective