Investment Banking Private Placement Exit Opportunities
I recently got a summer analyst offer to a EB Private Funds / Private Capital Advisory Group (or any other equivalent name; think Evercore, Lazard, PJT) and was wondering what the exit opportunities were like. I have heard and was under the impression initially that modeling exposure was somewhat limited, but have heard due to the growth in GP-led transactions in secondaries groups– which require basically the same level of valuation of a PE fund's portfolio company that an M&A banker might do for a sell-side M&A process– there actually is a lot of in-depth modeling in that regard. Does anyone have any insight or experience with these groups and the work that they do, as well as how well they place for buy-side opportunities? Given the changing nature of these private funds advisory groups (at least in secondaries) to be more modeling intensive, would it be fair to say that recruiters at PE firms for example will look more favorably upon analysts in these positions? Thank you in advance for any insights!
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