The Secondaries market has more than doubled in size over the last four years, worth approximately $45bn in 2015 to being worth $45bn by H1 2019. This is an area of considerable growth and an exciting industry to play a role in.
Being a part of a Secondaries Advisory team will see you work with Limited Partners (LPs) and General Partners (GPs) directly, speaking to Corporate businesses and Investment houses, guiding them through to achieving their ultimate goal - liquidity in an otherwise illiquid situation of investment.
This team advises managers of private assets – across a range of clients in seeking to recapitalize or liquidate their assets through a privately negotiated transaction. This can be fund sales, asset refinancing and fund recapitalisations. You will help to provide advice on pricing analysis, recommendations on process, structuring alternatives, and contract negotiation through to the close. Their client base, largely with GPs, recognises the Bank's M&A sector bankers providing comfort around their sector expertise; providing tremendous deal flow.
The role is similar to that of M&A, although you will have considerably higher exposure to the clients, it is deemed slightly less technically demanding (not quite LBO level, but similar), although the transactions are complex and certainly demand a high calibre candidate to work within this space.