In a bank which has two seperate groups carrying the two seperate names above, what is likely to be the difference between their duties given that there is so much definitional overlap when their functions are searched seperately on google. Am I wrong/mistaken in guessing that one of the two groups might itself actually be a full-fledged private equity organization/subsidiary within the bank/HoldCo (maybe private funds group) while the other group is an IBD team that advises PE firms? For more clarity, the bank is Jefferies (I saw these two as seperate groups on their website).
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PFG is fundraising. PCA is strategic advisory to GP's and LP's for their private asset portfolios.
Thanks.
Is PCA identical with Financial Sponsors Group which you find in other banks?
No…
Do you know how the day to day is for an analyst/assoc on the PFG or PCA team? Is it modeling heavy or is it mainly a relationship type role where you’re basically project managing/deadlines while keeping in touch with GPs/LPs throughout the days/weeks? Just trying to get a better understanding of what they do. Seems to have less exit ops than traditional IB which I’m fine with but also seems more sustainable for a career rather than sweatier M&A/industry coverage groups?
Secondary investors typically do all the modeling to determine if buying certain LP stakes or entering a CV makes sense or not. PCA honestly don't do too much modeling, more like connecting buyers and sellers.
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