Jefferies Secondary Advisory is one of the market’s leading advisors to institutional investors seeking strategic liquidity and portfolio management solutions across the private markets. The team partners with a broad range of limited partners to optimize portfolio construction, manage liquidity, and enhance returns across private equity and alternative assets. Our LP Advisory business focuses on advising global institutional allocators—including sovereign wealth funds, pensions, endowments, foundations, family offices, and asset managers—on the sale and active management of private market portfolios. This includes diversified portfolio sales, single‑fund stake transactions, co‑investment sales, and structured liquidity solutions.
Leveraging a deep global buyer network, integrated PCA platform, and proprietary market data and analytics, Jefferies delivers tailored execution strategies designed to maximize value, optimize pricing, and efficiently access the global secondary market.
LP Secondary Advisory Snapshot (2026)
- ~130+ PCA professionals globally, including 90+ dedicated secondary bankers across key financial centers
- $62B+ LP‑led volume since 2022, with ~20% global market share in 2025
- Advising large institutional LPs on portfolio sales, single‑fund stakes, co‑investments, and broader liquidity solutions
- Global buyer network with 3,000+ LP relationships across secondary funds and institutional investors
- Integrated “One PCA Team” platform across LP advisory, GP‑led, and primary fundraising
- Proprietary data & analytics leveraging 10+ years of transaction insights
- Supported by a scaled fundraising platform with $600B+ raised across 400+ funds
Role Overview
Jefferies is seeking an Analyst to join its Private Capital Advisory team in Dallas, with a focus on LP secondaries advisory. The Analyst will support the execution of secondary transactions involving diversified portfolios of private equity, growth equity, and other alternative investment fund interests. This role offers exposure to institutional investors, sophisticated portfolio strategies, and the global secondary buyer universe, while working closely with senior team members across active transactions.
Key Responsibilities
Transaction Execution & Analysis
- Support the execution of LP secondary transactions, including sales of diversified fund portfolios and structured liquidity solutions
- Build and maintain financial models, including portfolio valuation analyses, cash flow projections, and pricing scenarios
- Assist in the preparation of marketing materials, including teasers, process letters, confidential information memoranda (CIMs), and data room content
- Organize and manage data rooms, ensuring accuracy, completeness, and timely dissemination of materials to investors
- Support diligence processes, including coordinating requests with clients, fund managers (GPs), and advisors
Client & Investor Support
- Assist in day‑to‑day support of institutional LP clients, maintaining high standards of responsiveness and professionalism
- Support investor outreach efforts, including buyer universe analysis, tracking outreach, and managing inbound diligence questions
- Prepare materials and logistics for investor calls, diligence sessions, and management meetings
- Track and synthesize investor feedback to support pricing and transaction positioning discussions
Market Research & Internal Collaboration
- Conduct research and analysis on private equity and secondary market trends, including LP liquidity dynamics, pricing trends, and fundraising activity
- Support development and maintenance of internal databases tracking secondary investors, fund performance, and transaction outcomes
- Collaborate with Jefferies coverage and product teams to support broader client engagement and idea generation
- Assist in preparing internal updates and market commentary for senior team members and clients
Qualifications
- Bachelor’s degree with a strong academic track record
- 1+ years of relevant experience in investment banking, private equity, consulting, valuation advisory, or related analytical roles
- Strong financial modeling and analytical skills, with attention to detail and data accuracy
- Basic understanding of private equity fund structures, LP/GP relationships, and portfolio construction concepts
- Ability to manage multiple tasks in a fast‑paced, deadline‑driven environment
- Strong organizational and execution skills, with a high degree of accountability
- Excellent written and verbal communication skills
- Advanced proficiency in Excel, PowerPoint, and Word
