Secondaries PE interview with a large fund

I have an upcoming interview with one of the large PE secondaries funds in London. I have a few questions I was hoping someone could help answer

  1. What do secondary funds look for in their candidates, vs. a traditional direct PE fund?
  2. Versus traditional PE, is there more/less emphasis on: financial modelling, relationship building, industry knowledge, market analysis?
  3. How is the interview structure typically like? Eg: is there a case study, how much emphasis is there on financial modelling, how much emphasis on fit questions?
  4. If there is a case study, does anyone have an example and solution? I can't seem to find much on the Internet
  5. Are secondaries transactions more complex or less complex compared to traditional PE?
  6. What are the main differences in the analysis/modelling when analysing a transaction involving the sale of LP interests, vs. a direct secondaries transaction?

Thanks in advance for your responses!

---Message from WSO Below---

1 Comments
 
Best Response

Dolor ipsam omnis ducimus voluptates dignissimos voluptatem. Voluptatum veritatis nam rem ab commodi cupiditate optio. Fugit facilis vel modi alias. Consequatur excepturi et distinctio et et voluptas molestiae. Vitae laborum animi ducimus sit asperiores. Ex a ut molestias dolorem aut tempore.

Career Advancement Opportunities

June 2026 Private Equity

  • The Riverside Company 99.6%
  • Blackstone Group 99.3%
  • KKR (Kohlberg Kravis Roberts) 98.9%
  • Warburg Pincus 98.5%
  • Bain Capital 98.1%

Overall Employee Satisfaction

June 2026 Private Equity

  • Blackstone Group 99.6%
  • KKR (Kohlberg Kravis Roberts) 99.3%
  • The Riverside Company 98.9%
  • Ardian 98.5%
  • Starwood Capital Group 98.1%

Professional Growth Opportunities

June 2026 Private Equity

  • Bain Capital 99.6%
  • The Riverside Company 99.3%
  • Blackstone Group 98.9%
  • Starwood Capital Group 98.5%
  • KKR (Kohlberg Kravis Roberts) 98.1%

Total Avg Compensation

June 2026 Private Equity

  • Principal (9) $653
  • Director/MD (24) $547
  • Vice President (98) $365
  • 3rd+ Year Associate (104) $281
  • 2nd Year Associate (235) $272
  • 1st Year Associate (411) $229
  • 3rd+ Year Analyst (33) $157
  • 2nd Year Analyst (97) $134
  • 1st Year Analyst (272) $124
  • Intern/Summer Associate (38) $81
  • Intern/Summer Analyst (355) $62
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...”

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
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
DrApeman's picture
DrApeman
98.9
8
dosk17's picture
dosk17
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Jamoldo's picture
Jamoldo
98.8
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...”