PCA Resources / Recruiting Tips

Hi all I'm a rising sophomore at a target school looking to recruit for PCA / Private Funds Groups at an investment bank for SA 2026 and I was wondering if there's any resources to stay up to date with the market and prepare for interviews (case study resources, learning technicals like how to value LP-led vs GP-leds). I'm already subscribed to secondaries investors newsletter (the full website subscription is too expensive imo so cannot afford), secondarylink, and listening to PEI podcast episodes regarding secondaries.

Also curious about the recruiting timelines - are they usually same as traditional IB recruiting or earlier? 

Any insights would be greatly appreciated. Thanks!

6 Comments
 

Based on the most helpful WSO content, here are some insights and resources for PCA/Private Funds Groups recruiting and preparation:

Resources to Stay Updated and Prepare for Interviews:

  1. Case Study Resources:

    • While specific case study resources for PCA/Private Funds Groups aren't mentioned, general investment banking case studies can be useful. Look for resources that cover valuation techniques and deal structuring.
  2. Learning Technicals:

    • Valuation Techniques: Focus on understanding the differences between LP-led and GP-led transactions. This might involve learning about different valuation methods, such as Discounted Cash Flow (DCF), Comparable Company Analysis, and Precedent Transactions.
    • Industry Newsletters and Podcasts: Continue with your subscriptions to secondaries investors newsletters and PEI podcast episodes. These are valuable for staying updated on market trends and industry insights.

Recruiting Timelines:

  • Traditional IB Recruiting: Based on previous WSO threads, traditional IB recruiting timelines have been moving earlier each year. For example:

    • 2021 SA Recruiting: Moelis started in May, Evercore began interviewing in April, and Citi/CS were done by Spring. JP/GS/BAML/Barclays recruited in the Summer/Fall.
    • 2022 SA Recruiting: Some banks like Morgan Stanley might start as early as February/March.
    • 2023 SA Recruiting: Specific timelines for banks like Lazard, Moelis, Citi, Credit Suisse, Morgan Stanley, PJT, and Evercore were discussed, but exact dates can vary.
  • PCA/Private Funds Groups Recruiting: While specific timelines for PCA/Private Funds Groups aren't detailed, it's likely they follow a similar pattern to traditional IB recruiting, potentially starting early in the year.

Additional Tips:

  • Networking: Leverage your target school network to connect with alumni and professionals in PCA/Private Funds Groups. This can provide insights and potentially early access to recruiting information.
  • Preparation: Focus on building a strong foundation in financial modeling, valuation techniques, and understanding the nuances of secondary transactions.

For more detailed timelines and specific bank recruiting schedules, you might want to keep an eye on forums and threads on Wall Street Oasis, as they often provide up-to-date information from other candidates and industry insiders.

Sources: 2023 SA Recruiting Timeline, 2021 SA Recruiting Timelines, Full-time non-SA IB recruiting timeline? Summer 2020 PE Internship → Investment Banking Analyst, CRAZY early recruiting timelines, 2016 Summer Analyst IB Recruiting Timeline Megathread

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Interview is significantly less technical than traditional IB, most if not all questions should be behaviorals/industry interest, honestly pretty easy to prep for. Read secondaries primers from banks and know the types of LP/GP-leds. Know how funds are structured as well (ex. Distribution waterfalls).

 
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