Credit Suisse Private Fund Group - Updated Info?
Know this is a bit of a niche industry, but does anyone have any recent info they can share on Credit Suisse's Private Fund Group in NYC? Would especially appreciate any concrete input on expected hours and compensation at the analyst levels.
For background, I am looking to get out of M&A at a BB to hopefully get into the secondary advisory space for a bit of a better lifestyle while maintaining the deal-related work environment. Also very open to the fundraising side, as I actually love following the private markets on my own time.
If anyone has made the switch from banking to a private fund groups at BB (CS/UBS) / secondary advisory group at EBs (Evercore, Lazard, Greenhill, PJT, etc), I would appreciate any thoughts!
Thank you in advance!
I know it’s a niche topic but bumping!
Went through recruiting this year and superdayed with the private capital advisory group at Evercore. Top of the street, and there's some modeling involved, while the private funds group has almost none. The private funds group is also very small, but the PCA group is pretty large and growing fast. So, would advise you to look into that. Have seen a couple of people go from IB-M&A to IB-PCA at Evercore. They also pay at par, or above compared to IB because it's a high-volume business and fewer heads to feed.
Greenhill used to be the best, but has lost many of its top players (they bought cogent partners, but the key guys from there recently left). Something to keep in mind.
Appreciate the input. Any idea about the hours? Especially on the PCA side?
I'm very familiar with Evercore's PCA and Private Funds Group. The former is pure secondary advisory while the latter does fundraising for Private Equity funds. I think it's important to mention that Credit Suisse's Private Funds Group is a mixture of these two types of groups, in that they both do fundraising and secondary advisory. Exits thus range from investor relations-type roles to secondary investors. Hours are a bit better than IBD at both from what I know, but don't expect 40 hour-weeks
Are you familiar with Evercore's Real Estate Private Capital Advisory? Is it similar to PCA, but RE only? Weird to see it in a different team/division entirely.
Currently at a secondaries fund. credit Suisse along with Evercore and Campbell Lutyens are definitely the top advisors in the US right now.
Would secondaries PE firms be open to hiring from CS PFG?
Honestly not sure. I’ve seen MDs / senior members move from sell side secondaries to buy side.
Hoping current / former CS PFG can add some input
CS is def not amongst the top advisors in the space. For that it’s Evercore, Lazard, PH. Get ready to work hard (banking hours or less, but with zero downtime), get undercooked, and lots of administrative private funds type work (trackers)
Basically, you’ll def not find better work/life in this role, I’d recommend corporate development or in house investing teams at corporates
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