Secondaries
I’ve been seeing a lot of threads on wso on secondaries and was wondering what about the space interests everyone?
How much does evercore secondaries or Blackstone strategic partners pay?
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EVR PCA (Secondary Advisory) pays same/more than EVR M&A... Usually they are highest paying group.
That’s crazy, how are the hours?
Crazier.
bump
Can anyone add to the pros and cons of working in secondaries/secondary advisory? In terms of work, exit opps, future outlooks, etc.
PM me
bump
Transactional structure of secondaries is much more akin to traditional m&a, just catering to a different pool of buyers with different risk profiles.
The work is the same on the sell side. Fund level modelling, teaser, CIM, trackers, etc. No different from other product groups.
Growing space (if not already mature) and definitely the highest paying group at EVR (I know that for a fact). On a serious note, I hate hearing Evercores name because they are literally connected with every single GP/LP.
Bump. How about Blackstone Strategic Partners vs their PE team in terms of comp, career progression etc?
Strat Partners pays analysts and associates the same as Blackstones regular PE team, so very strong
How about senior levels?
Is secondaries a more attractive sector to go in as a junior compared to traditional buyout?
love to hear about this as well
Bump
Anyone familiar with Evercore PCA interview process? Specifically technicals
very crusious about this as well. Were you able to find any answers for this?
I ended up dropping out of the process after first interview (made it to second interview, but accepted offer elsewhere). In the intro call they asked about distribution waterfall, why a GP might engage in a secondaries transaction, and rationale/structuring for a continuation vehicle.
Bump
Is it an attractive space to start your career? Or are the exits more limited?
I know someone in secondaries who doesn't like it. If you're genuinely interested then go for it. but it is pretty far away from business model analysis
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