PCA Prep for Summer Internship

Hello, I will be interning this summer with a Private Capital Advisory team (GP side), and I am curious about what I can do to prepare this spring? I have had a difficult time finding out what secondaries advisory work actually looks like, so any light on that would be helpful too! 

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I'd be able to do walk throughs of a high level GP-led transaction to understand the basic structure of these deals. SA interview, at least for me, was fairly non-technical but a lot of why secondaries, walk me through a recent transaction/structure of a basic GP-led deal etc. feel free to PM

 

Read some of the secondaries market reports you can find online (JEF is probably the industry standard for theses). Also, learn the general PE waterfall structure. No need to have this memorized as your group will assuredly have a complex template you can work with, but understanding basics like GP catchup and hurdle rates will put you ahead of your other SAs. I believe ASimpleModel.com has a basic outline for this and is generally a great resource. Good luck and have fun - secondaries is a great space to be in right now!

 

Hey. I’m looking to work in secondaries and can’t hear enough of just how great the growth prospects look. I’ll definitely go over this stuff for my interview prep but mind if I PM to talk a bit more?

 
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