Associate - Private Capital Advisory - Secondaries

Lazard•New York, NY

4d•$185,000 - $250,000•Onsite

About The Position

Lazard is one of the world’s preeminent financial advisory and asset management firms. Lazard is a global leader in raising capital, executing secondary transactions, and providing capital solutions for private investment funds. Lazard’s Private Capital Advisory (“PCA”) Group is a global team of more than 100 professionals with a dedicated Secondary Advisory practice alongside a primary fundraising business that advises on capital raising for private equity, private credit and real asset managers. Lazard PCA raises capital from institutional investors, including sovereign wealth funds, public pension funds, corporate pension plans, foundations and endowments, financial institutions, funds of funds, and asset managers. Our Secondary Advisory team is a global group of specialists focused on secondary transactions, advising predominantly on GP‑led processes, such as single‑ and multi‑asset continuation funds, strip sales, and tender offers. Lazard PCA has advised many of the world’s leading financial sponsors and has played a key role in developing several of the transaction structures that are now standard across the secondary market.

Requirements

At least two years of investment banking (M&A or GP-led secondary advisory preferred), private equity or secondary investing experience
A proven ability (through multiple similar assignments) to work on complex transactions
Advanced financial modelling and analytical skills, with the ability to build, review and stress-test complex fund- and asset-level models independently; PCA will provide additional training, but a strong baseline technical skillset is required
Demonstrated academic excellence with excellent attention to detail and high standards of accuracy, including the judgment to review and quality-check the work of junior colleagues; comfort operating in a fast-paced environment that values initiative, creativity and maturity
A team-player mindset, with the ability to work as part of a close-knit team while taking ownership of discrete workstreams
Strong interpersonal skills and the ability to communicate credibly with PCA deal teams, institutional investors and external clients
A proven ability to manage multiple live transaction processes and competing priorities simultaneously
A high level of responsiveness with a strong work ethic and commitment to maintaining a high-quality work product

Responsibilities

Prepare presentation materials and pitches for prospective clients
Lead due diligence on private equity portfolios, evaluating underlying asset performance and Net Asset Value (NAV) trends to support the underwriting of GP-led secondary transactions
Own the construction and review of secondary-specific financial models, including cash flow projections, fund-level waterfall models, returns analysis for prospective buyers and detailed valuation analysis
Manage the preparation of detailed marketing materials, including Confidential Information Memorandums (CIMs), investor presentations, teasers and other investor communications
Run the investor outreach process on live transactions, including the monitoring and tracking of investor interactions, demand and pricing feedback
Oversee the virtual data room (VDR) and coordinate responses to complex investor due diligence requests, ensuring seamless information flow between clients and counterparties
Act as a day-to-day point of contact for clients, counsel and counterparties, helping to drive transaction execution from launch through closing
Communicate regularly with Lazard's institutional investor coverage professionals and across Lazard M&A and financial sponsor coverage teams
Supervise, review and mentor analysts, taking responsibility for the accuracy and quality of the team’s work product