Comments (10)

Apr 25, 2019

Bump, I am also considering a career in secondaries

May 3, 2019

Depends on the type of deal:

  • LP stakes will be more aligned with portfolio management, especially at a large fund purchasing many positions
  • GP stakes/ fund restructuring will be closer to PE with deeper insight into individual assets

I've seen good exits/ business school transitions, especially from more recognizable names (Blackstone SP, GS, Ardian), so I wouldn't worry too much about that.

May 7, 2019

Just out of personal curiosity, what are the most well known secondary funds and what is the motivation to work here versus traditional buyout funds?

Furthermore, how does recruiting for this work and what are the skills/knowledge you need to recruit for secondaries?

May 7, 2019

A guy in my class went to a secondaries fund and from what i can tell:

Better hours

Less operational involvement in portco's (close to none in most cases, since you're an LP)

Less hardcore DD (portfolio investing vs single asset investing - even if you spend the same amount of hours on DD, you have more portcos to spread that over)

More restructuring type work

    • 1
May 11, 2019
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