Investment Banking - Private Capital Advisory, GP-Led Secondaries - Associate

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.