Analyst - Private Capital Advisory - Secondaries

About Lazard

Lazard is one of the world’s preeminent financial advisory and asset management firms. Our people and culture make the difference. While global in presence and reach, ours is a close, collaborative community of just over 3,000 professionals. Lazard is a place of continuous knowledge sharing, skill development and relationship building, where professionals grow and succeed together. Our entrepreneurial culture, flat structure and embrace of individual differences allow creative ideas, original concepts, and unique perspectives to drive our business forward — and for careers to take flight.

Through our financial advisory business, Lazard advises clients around the world on strategic and financial matters including mergers and acquisitions, restructurings, capital structure and capital raising. Our client relationships are built on trust and discretion. As the world’s largest advisory-focused firm, we have exceptional depth of expertise across industry sectors and geographies. We value the rich diversity that comes from blending local perspective with our global network.

Private Capital Advisory (PCA) at Lazard

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.

Role: Analyst – Secondary Advisory

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.

Analysts on the Secondary Advisory team are expected to combine investment banking skills (business due diligence, financial modeling and transaction execution) with capital markets functions (investor outreach and communications). Deal teams typically comprise 4–5 PCA professionals, including an Analyst, Associate, Vice President or Director, and a Managing Director. Analysts work with Associates during transaction preparation (e.g., drafting marketing materials such as a Confidential Information Memorandum, building a portfolio/asset projection model, preparing the Virtual Data Room) and during marketing and due diligence (e.g., tracking investor outreach, answering due diligence questions from potential buyers, participating in client update calls).

What you’ll do

• Prepare presentation materials and pitches for prospective clients
• Perform comprehensive due diligence on private equity portfolios, evaluating underlying asset performance and Net Asset Value (NAV) trends to support underwriting of GP-led secondary transactions
• Assist in preparing financial models, including secondary-specific models such as cash flow projections, fund-level waterfall models, returns analyses for prospective buyers, and detailed valuation analyses
• Drive the preparation of marketing materials, including Confidential Information Memorandums (CIMs), investor presentations, teasers, and other investor communications
• Manage the new investor outreach process as part of live transactions, including monitoring and tracking investor interactions
• Facilitate the virtual data room (VDR) and coordinate responses to complex investor due diligence requests, ensuring seamless information flow between clients and counterparties
• Communicate regularly with Lazard's institutional investor coverage professionals and across Lazard M&A and financial sponsor coverage teams

What you’ll need

• At least one year of investment banking (M&A or GP-led secondary advisory preferred) or private equity experience
• Strong analytical and quantitative skills with training in building presentation materials and financial modeling. PCA will provide additional training, but a baseline technical skillset is required
• Proven academic excellence with excellent attention to detail and high standards of accuracy
• Team-player mindset and ability to work as part of a close-knit team
• Strong interpersonal skills and ability to communicate with PCA deal teams and external clients
• Strong multi-tasking capabilities
• High level of responsiveness with a strong work ethic and commitment to maintaining a high-quality work product

Does this sound like you?

Apply! We’ll get in touch on the next steps.

What we offer

We strive to enhance the total health and well-being of our employees through comprehensive, competitive benefits. Our goal is to offer a highly individualized employee experience that enables you to balance career, family, and community commitments. When you work for Lazard, you are working for an organization that cares about your unique talents and passions and will continue to invest in your career development. The base salary range for this role is approximately $120,000–$125,000 USD. Various factors contribute to determining the actual base compensation offered, including years of relevant experience, tenure, qualifications, education, certifications or licenses, and relevant skills. Base salary is one component of Lazard Financial Advisory’s compensation package, which also includes comprehensive benefits and may include incentive compensation.

Representation at Lazard

Lazard is an intellectual capital business committed to delivering the best advice and solutions to clients. We focus on attracting, developing and retaining the best talent. We believe a workforce representing diverse backgrounds, experiences and perspectives creates a rich variety of thought that empowers us to challenge conventional wisdom, solve problems creatively and make better decisions.

Lazard was built on the premise that a multicultural firm can best serve a global clientele. As a global firm with local roots in different countries, we have a deep tradition of respecting and appreciating individual differences. This has been core to our success for over 175 years. We are committed to sustaining an environment where every colleague is supported in their professional pursuits, can maximize their potential, and contribute to our collective success.