Feb 25, 2023
116 Comments
 
PE
Analyst 1 in PE - LBOs
Senior Baboon
3y
Most Helpful

I interviewed for secondaries but ultimately ended up in traditional PE so my view may be limited. The technical Questions I received were my standard IB technical questions, however, be prepared to talk about these. 

1) What are secondaries?

2) What is the difference between LP and GP led secondaries. 

3) why would an investor want to invest in secondaries? 

4) What is the J curve? 

5) Why do secondaries occur, both on the LP and GP side. 

6) Talk about secondaries deal you have seen or followed, and what was the rationale behind it. 

Ultimately, I might be missing something technical. However, this was my experience with Glendower, GCM Grosvener, as well as LGT Capital Partners. 

If you would like, I can also PM you some information I utilized when I was considering going into the Secondaries Space. 

Reply
Quote
Report
Other
  • 25
Authored by: Certified Private Equity Professional - 1st Year AnalystCertified Private Equity Pro
 
ragna786's picture
Chimp IB
3y

Hey man, I'm currently interviewing for a private capital and secondary advisory roles as well. Couldnt find much online so would really appreciate a PM from you on the secondaries guide. Thank you in advance!!

Reply
Quote
Report
Other
 
inflationista's picture
Senior Chimp HF
3y

Analyst 1 in PE - LBOs

I interviewed for secondaries but ultimately ended up in traditional PE so my view may be limited. The technical Questions I received were my standard IB technical questions, however, be prepared to talk about these. 

1) What are secondaries?

2) What is the difference between LP and GP led secondaries. 

3) why would an investor want to invest in secondaries? 

4) What is the J curve? 

5) Why do secondaries occur, both on the LP and GP side. 

6) Talk about secondaries deal you have seen or followed, and what was the rationale behind it. 

Ultimately, I might be missing something technical. However, this was my experience with Glendower, GCM Grosvener, as well as LGT Capital Partners. 

If you would like, I can also PM you some guides/information I utilized when I was considering going into the Secondaries Space. 

Oh please PM me too! Very interested in learning. Thanks.

Reply
Quote
Report
Other
 
inflationista's picture
Senior Chimp HF
3y

Analyst 1 in PE - LBOs

I interviewed for secondaries but ultimately ended up in traditional PE so my view may be limited. The technical Questions I received were my standard IB technical questions, however, be prepared to talk about these. 

1) What are secondaries?

2) What is the difference between LP and GP led secondaries. 

3) why would an investor want to invest in secondaries? 

4) What is the J curve? 

5) Why do secondaries occur, both on the LP and GP side. 

6) Talk about secondaries deal you have seen or followed, and what was the rationale behind it. 

Ultimately, I might be missing something technical. However, this was my experience with Glendower, GCM Grosvener, as well as LGT Capital Partners. 

If you would like, I can also PM you some guides/information I utilized when I was considering going into the Secondaries Space. 

Oh please PM me too! Very interested in learning. Thanks.

Reply
Quote
Report
Other
Mission Statement Template
 
yaz_000's picture
Chimp O
3y

I interviewed for secondaries but ultimately ended up in traditional PE so my view may be limited. The technical Questions I received were my standard IB technical questions, however, be prepared to talk about these. 

1) What are secondaries?

2) What is the difference between LP and GP led secondaries. 

3) why would an investor want to invest in secondaries? 

4) What is the J curve? 

5) Why do secondaries occur, both on the LP and GP side. 

6) Talk about secondaries deal you have seen or followed, and what was the rationale behind it. 

Ultimately, I might be missing something technical. However, this was my experience with Glendower, GCM Grosvener, as well as LGT Capital Partners. 

If you would like, I can also PM you some guides/information I utilized when I was considering going into the Secondaries Space. 

Could you please pm me those guides? Thank you so much for your time!!

Reply
Quote
Report
Other
 
Greek92's picture
Chimp IB
3y

Anonymous Monkey:

I interviewed for secondaries but ultimately ended up in traditional PE so my view may be limited. The technical Questions I received were my standard IB technical questions, however, be prepared to talk about these. 

1) What are secondaries?

2) What is the difference between LP and GP led secondaries. 

3) why would an investor want to invest in secondaries? 

4) What is the J curve? 

5) Why do secondaries occur, both on the LP and GP side. 

6) Talk about secondaries deal you have seen or followed, and what was the rationale behind it. 

Ultimately, I might be missing something technical. However, this was my experience with Glendower, GCM Grosvener, as well as LGT Capital Partners. 

If you would like, I can also PM you some guides/information I utilized when I was considering going into the Secondaries Space. 

Hello, please PM for my upcoming PCA interviews. Thanks!

Reply
Quote
Report
Other
 
Prospect - Secondaries - Certified Professional
Chimp ST
3y

Anonymous Monkey:

I interviewed for secondaries but ultimately ended up in traditional PE so my view may be limited. The technical Questions I received were my standard IB technical questions, however, be prepared to talk about these. 



1) What are secondaries?



2) What is the difference between LP and GP led secondaries. 



3) why would an investor want to invest in secondaries? 



4) What is the J curve? 



5) Why do secondaries occur, both on the LP and GP side. 



6) Talk about secondaries deal you have seen or followed, and what was the rationale behind it. 





Ultimately, I might be missing something technical. However, this was my experience with Glendower, GCM Grosvener, as well as LGT Capital Partners. 





If you would like, I can also PM you some guides/information I utilized when I was considering going into the Secondaries Space. 


Anyway you could PM this guide? Thanks in advance!

Reply
Quote
Report
Other
Joe Coleman
 
Prospect - Secondaries - Certified Professional
Chimp ST
3y

Anonymous Monkey:

I interviewed for secondaries but ultimately ended up in traditional PE so my view may be limited. The technical Questions I received were my standard IB technical questions, however, be prepared to talk about these. 



1) What are secondaries?



2) What is the difference between LP and GP led secondaries. 



3) why would an investor want to invest in secondaries? 



4) What is the J curve? 



5) Why do secondaries occur, both on the LP and GP side. 



6) Talk about secondaries deal you have seen or followed, and what was the rationale behind it. 





Ultimately, I might be missing something technical. However, this was my experience with Glendower, GCM Grosvener, as well as LGT Capital Partners. 





If you would like, I can also PM you some guides/information I utilized when I was considering going into the Secondaries Space. 


Anyway you could PM this guide? Thanks in advance!

Reply
Quote
Report
Other
Joe Coleman
 
dehrize_232's picture
Baboon IB
2y

Hi bro, please can you pm the guide you used to prepare for secondaries interviews also? Also what case study would it be? 
 

Many thanks

Reply
Quote
Report
Other
 
Jay00's picture
Chimp IB
2y

Hey, thanks for sharing your knowledge on your secondaries' interview.

Could you perhaps share a few resources that helped with your secondaries' recruitment? Thanks!

Reply
Quote
Report
Other
 
PM402's picture
Chimp O
1y
[Comment removed by mod team]
 
anonymou060606's picture
Chimp IB
1y

Anonymous Monkey:

I interviewed for secondaries but ultimately ended up in traditional PE so my view may be limited. The technical Questions I received were my standard IB technical questions, however, be prepared to talk about these. 



1) What are secondaries?



2) What is the difference between LP and GP led secondaries. 



3) why would an investor want to invest in secondaries? 



4) What is the J curve? 



5) Why do secondaries occur, both on the LP and GP side. 



6) Talk about secondaries deal you have seen or followed, and what was the rationale behind it. 





Ultimately, I might be missing something technical. However, this was my experience with Glendower, GCM Grosvener, as well as LGT Capital Partners. 





If you would like, I can also PM you some information I utilized when I was considering going into the Secondaries Space. 


Could you PM me the guide? Thank you so much!

Reply
Quote
Report
Other
 
IB
Prospect in IB - Gen
Senior Baboon
3y

I interviewed at a top PCA firm (EVR/PJT). They asked me standard IB questions and they put a lot of emphasis on GP Leds. They asked me what a continuation fund and what kind of other exits a GP would have other than continuation funds. They also asked about why an LP and a GP might be inclined to do secondary transactions.

Reply
Quote
Report
Other
  • 5
Net Present Value (NPV) is One Type of
 
PE
Associate 3 in PE - Other
Orangutan
3y
[Comment removed by mod team]
 
Generic Banker - Certified Professional
Neanderthal IB
2y

Ad voluptatem nam minima repudiandae neque libero. Consequatur delectus aut facilis voluptate. Et enim et occaecati adipisci. Eius officiis assumenda repellat quisquam iure id est. Non quia quam maxime magni ea.

Sint molestias quas quia numquam illo voluptas laborum. Officia odit exercitationem eum distinctio nostrum placeat eius. Et et quibusdam dolores rerum suscipit harum eius. Optio porro blanditiis aut optio explicabo est dolor. Occaecati culpa dolorem quam commodi placeat et aspernatur. Autem iusto iure omnis corporis.

Dolore eveniet voluptas est nobis culpa. Et velit eligendi aliquid. Et laborum aspernatur accusamus blanditiis in.

See All Comments - 100% Free

WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)

Reply
Quote
Report
Other
Authored by: Certified Investment Banking Professional - 1st Year AnalystCertified Investment Banking Pro
 
trsxakmsxn's picture
Chimp ?
2y

Architecto dolorum id aut recusandae sapiente. Quia accusamus dolorem debitis doloremque consequuntur eum. Excepturi deserunt accusamus sed tempora. Similique et quidem saepe temporibus. Nobis repellendus hic maiores. Odio harum nulla non aut accusantium vitae ut. Qui ea eligendi repudiandae ut quia neque repudiandae.

Velit vero fugit dicta et nam eaque sunt. Aperiam eum quo reprehenderit eos.

Aperiam aut facilis unde excepturi. Tenetur quidem corrupti vero qui. Repudiandae est minus et tempore. Sapiente quas vero at cum libero distinctio ut voluptatibus.

Magnam sunt sapiente sit iure. Tempore eligendi culpa hic ea aperiam. Et recusandae veritatis sapiente eveniet iure veritatis.

[Comment removed by mod team]
 
Raphaël-Noufele's picture
Chimp IB
2y

Aliquid aut assumenda doloribus vitae corrupti quia. Minima fuga porro voluptatem ut. Est nemo sapiente laudantium quo temporibus nesciunt deserunt. Quos error ipsam excepturi quod fugiat rerum.

Est voluptas architecto dolorem quisquam perferendis dolorem. Harum rerum debitis velit ut. Officia dicta fugit quidem ea voluptatibus. Nisi fugiat assumenda quia. Aut non fugit quasi voluptatem. Delectus rem aut reiciendis et beatae.

[Comment removed by mod team]
 
analyst503018 - Certified Professional
Senior Chimp PE
2y

Dolorem adipisci assumenda animi deleniti quaerat nobis veniam. Repellat impedit dolorem officia nihil vel alias sunt. Sit et eos ut aspernatur laudantium eius. Hic quas aliquid rerum et ratione. Pariatur quo porro est enim. Pariatur eos dolores ut et.

Est qui impedit delectus sequi nobis et. Qui et molestiae consequatur maxime reiciendis nulla amet. Necessitatibus et qui mollitia expedita.

Nostrum ut nobis maiores et minus molestias consequuntur qui. Asperiores aliquid nihil voluptas in odio non quia. Qui est unde ex autem omnis aut. Ut laudantium molestiae consectetur voluptatem mollitia facere qui. Sint enim tenetur impedit corrupti enim repudiandae. Rem officia nesciunt quia eaque architecto eaque ad aut. Voluptatibus asperiores praesentium suscipit facere odio.

[Comment removed by mod team]

Trending Content - Investment Banking Forum

View all

Career Resources

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%
View IB Report

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%
View IB Report

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%
View IB Report

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
View IB Report
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Read more

Leaderboard

1
redever's picture
redever		 99.2
2
Secyh62's picture
Secyh62		 99.0
3
BankonBanking's picture
BankonBanking		 99.0
4
kanon's picture
kanon		 99.0
5
dosk17's picture
dosk17		 98.9
6
DrApeman's picture
DrApeman		 98.9
7
Betsy Massar's picture
Betsy Massar		 98.9
8
GameTheory's picture
GameTheory		 98.9
9
CompBanker's picture
CompBanker		 98.9
10
Jamoldo's picture
Jamoldo		 98.8
View all
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”

Read more