Complex secondaries vs traditional secondaries comp
I was headhunted for a PE complex secondaries team. Does anyone know much about complex secondaries?
The headhunter said it's a very technical and intense role that is far more technical and challenging than traditional private equity secondaries.
I was wondering if this meant complex secondaries would pay more or have longer hours compared to traditional PE secondaries?
I would assume the HH is referring to fund-level restructurings vs vanilla secondaries. Given the GP has outright control, fund restructuring are highly negotiated. I reckon that results in an arduous deal process and more detailed modeling of the companies and rollover economics.
Most secondary shops advise on both types of transactions, so wouldn’t assume pay is any different. Hours are also going to be comparable between roles. You will probably be working on fewer GP-led restructurings, but each will be more time consuming.
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