Evercore PCA vs. PFG
Does anyone have an insight into the Evercore PCA vs PFG divisions in London? I know that PCA deals with secondaries and PFG primaries... but does anyone have further insight?
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The Private Capital Advisory (PCA) division is focused on helping clients to evaluate and execute investments in private companies, as well as providing assistance with portfolio management and exits from private investments.
The Private Funds Group (PFG) division is focused on helping clients to raise capital for new investment funds, as well as providing advice on fund structuring and portfolio management.
Both are great opportunities op. If it were me though I would pick PCA considering where the trend for secondaries is going.
Any more specific thoughts on future of PCA?
Secondaries is a highly intermediated industry segment that everyone is forecasting strong growth for in the coming years. That will create more deal flow for PCA groups and Evercore is a leader in the space. 2023 will be a great year.
Compensation in both these groups will be similar to IB comp too
any numbers for EBs for analysts and associates in these groups?
They’re both within IB 🤦🏻♂️
Wouldn’t call it IB
If you’d like to work in investor relations at a PE firm, PFG. If you’d like to do PE secondary investing or traditional IB, PCA
How easy is it to lateral or move internal from PCA to other groups like M&A or RX/Debt Advisory?
bump, curious especially about internal mobility at evr
PCA / Secondary Advisory (this is the group name at PJT) analysts have a lot of ability to lateral (groups like the strong name of the firm and number of reps you go through which more than offsets the lack of M&A exposure).
It is pretty rare to internally transfer, and when it does occur the analyst typically "losses a year". I.E. a second year Secondary Advisory analyst would only be credited with one year of experience. It is not something which is encouraged at most boutiques (it leads to a weird inter-group dynamic if talent is being taken internal at smaller firms).
would you say it's easier to lateral to m&a/coverage from pca compared to from ecm?
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