Analyst - Private Capital Advisory - Secondaries

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, we are a close, collaborative community of more than 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.

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 diversity that comes from blending local perspectives with our global network.

Private Capital Advisory

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 transaction structures that are now standard across the secondary market.

Analysts on the Secondary Advisory team combine investment banking skill sets, including business due diligence, financial modeling and transaction execution, with capital markets functions such as investor outreach and communications. Deal teams typically comprise four to five PCA professionals, including an Analyst, Associate, Vice President or Director and Managing Director.

Analysts work closely with Associates during transaction preparation, including drafting marketing materials such as Confidential Information Memorandums, building portfolio and asset projection models and preparing the virtual data room. They also support the marketing and due diligence phases by tracking investor outreach, facilitating and answering due diligence questions from potential buyers and participating in update calls with clients.

Responsibilities

• 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 the 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.
• Lead the preparation of detailed marketing materials, including Confidential Information Memorandums (CIMs), investor presentations, teasers and other investor communications.
• Manage the new investor outreach process for live transactions, including monitoring and tracking investor interactions and demand.
• Facilitate the virtual data room 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’s M&A and financial sponsor coverage teams.

Qualifications

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

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 employees to balance their commitments to career, family and community. When you work for Lazard, you work for an organization that values your unique talents and passions and invests in your career development.

The expected base salary range for this role is approximately $120,000–$125,000 USD. Various factors contribute to determining the actual base compensation offered, including, but not limited to, the applicant’s years of relevant experience, career tenure, qualifications, level of education attained, certifications or professional licenses held 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. To achieve these objectives, we focus on attracting, developing and retaining the best talent. We believe that a workforce comprising people from a wide array of 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 that has grown organically from local roots in different countries, we have a deep tradition of respecting and appreciating individual differences. Doing so has been core to our success for more than 175 years. We are committed to sustaining an environment where every colleague is supported in their professional pursuits, can maximize their individual potential and contribute to our collective success.

Does this sound like you? Apply, and we’ll be in touch regarding next steps.