Hi Everyone. I've seen several job postings for fundraising and advisory roles at PJT-Park Hill, CS's Private Funds Group, and EVC's Private Capital Advisory and have heard of a few people moving to these groups from traditional banking. I was curious if anyone had any insight into the general hours, culture, and comp of these groups?
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Superdayed at EVR's PCA group so can provide some insight. A good set of guys in a very fast-growing space (GP-led secondaries is taking up more than 50% of their deal flow and involve more modeling than LP-led transactions) at a top shop. The best part is that their private funds group is separate and thus PCA doesn't do any fundraising, just advisory which IMO is more exciting. I have heard through the grapevine that the comp. is at/above the IB M&A group given deal flow per capita is so high. Obviously, one downside is that the hours aren't too low compared to the traditional IB group. Would be, at maximum, 5%-10% lower. The secondary space as a whole is growing like crazy and is something I would love to personally be a part of especially given that traditional PE is getting very crowded.
Appreciate the insight! That's super helpful. So from what I have gathered PCA / secondaries groups at these firms are more geared towards pure advisory (as the name implies) with ~ IB comp, hours, and a little bit more modeling. On the other hand, it sounds like the PFG groups like at CS and Park Hill focus more directly on fundraising with less modeling / advisory but I would imagine are a little more relationship and marketing driven?
Would assume so but some banks club PF and PCA together and call that PCA so would just check into it. Wouldn't say PCA has more modeling than IB M&A. Definitely lower but PCA has more modeling than PF (which has basically none) although the modeling aspect is going up with an increase in GP-led secondaries.
Definitely makes sense. And yeah was just referencing a higher modeling load in comparison to PF groups. Noted on the combo of some groups though.
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heard from a mid-level guy over at a major PCA (think Lazard/EVR) that they're 'making a sh$t ton of money' this year and last - the above poster is right in that they focus exclusively on secondaries advisory and different groups typically handle the placement agent/fundraising work
Any insight on PJT Park Hill with regard to the work, hours, and compensation? I’ve been continuously hearing how the secondary space is growing rapidly and could be an interesting switch from markets
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