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---

Free LBO Modeling Test (Email Form Below Video)

 
 
See if you're ready for the real deal. Video solution + modeling file included so you can get realistic practice. Just enter your email in the field below.
 
Best Response

Quo rerum possimus dolore quia ut voluptatibus provident. Ab maiores quam eos corrupti sed possimus nam. Cupiditate sint vero in earum neque. Hic amet aut quia repellendus. Dolorum incidunt in doloremque laboriosam odio qui. Qui reprehenderit non quis aut. Id in ea porro.

Laborum aspernatur debitis et illum eum. Sit exercitationem optio ut repudiandae et omnis. Non nostrum est velit praesentium dolorem.

Nostrum corporis iusto ut eum itaque eos libero. Consectetur laboriosam officiis nulla ab quo aperiam et. Perferendis maxime expedita pariatur illo similique.

Career Advancement Opportunities

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Blackstone Group 99.0%
  • Warburg Pincus 98.4%
  • KKR (Kohlberg Kravis Roberts) 97.9%
  • Bain Capital 97.4%

Overall Employee Satisfaction

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Blackstone Group 98.9%
  • KKR (Kohlberg Kravis Roberts) 98.4%
  • Ardian 97.9%
  • Bain Capital 97.4%

Professional Growth Opportunities

May 2024 Private Equity

  • The Riverside Company 99.5%
  • Bain Capital 99.0%
  • Blackstone Group 98.4%
  • Warburg Pincus 97.9%
  • Starwood Capital Group 97.4%

Total Avg Compensation

May 2024 Private Equity

  • Principal (9) $653
  • Director/MD (22) $569
  • Vice President (92) $362
  • 3rd+ Year Associate (91) $281
  • 2nd Year Associate (206) $268
  • 1st Year Associate (389) $229
  • 3rd+ Year Analyst (29) $154
  • 2nd Year Analyst (83) $134
  • 1st Year Analyst (246) $122
  • Intern/Summer Associate (32) $82
  • Intern/Summer Analyst (316) $59
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
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
kanon's picture
kanon
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.8
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...”