Investment Banking | JR101567

Investment Banking Associate, Secondary Advisory

London, England

Job Description

William Blair is the premier global partnership providing advisory services, strategies and solutions to companies, investors and institutions worldwide.

Our Private Capital Advisory (PCA) team advises leading alternative asset managers and institutional investors across all asset classes. Within PCA, the Secondary Advisory team acts as a strategic advisor to its clients on a broad range of liquidity solutions, including GP-led secondaries, portfolio transactions, fund restructurings and other liquidity options in conjunction with our sector investment banking teams.

As an Associate, you will play a central role in transaction origination and execution, client management, working directly with senior bankers, private equity sponsors, institutional investors and management teams on complex and highly strategic transactions across the private markets ecosystem.

Why William Blair

At William Blair, Associates are empowered to make meaningful contributions from day one. Our entrepreneurial culture, collaborative environment and commitment to professional development create an exceptional platform for building a long-term career in private capital advisory.

What differentiates William Blair:

• Significant responsibility and ownership over live transactions and origination efforts.
• Direct exposure to senior bankers, general partners (GPs), limited partners (LPs) and institutional investors.
• Experience across one of the fastest-growing areas of private capital markets.
• An independent partnership culture focused on collaboration, integrity and long-term client relationships.
• Extensive training, mentorship and leadership development opportunities.
• A collaborative and entrepreneurial environment that encourages intellectual curiosity and initiative.

Position Overview

As an Investment Banking Associate within the Secondary Advisory team, you will be responsible for managing transaction workstreams across a variety of private market liquidity solutions. You will oversee financial analyses, coordinate due diligence processes, manage Analysts, develop client presentations and contribute directly to strategic recommendations. The role requires strong analytical, presentational and project management capabilities, excellent communication skills and a genuine interest in private markets. Successful candidates will possess advanced financial modelling expertise, strong commercial judgement and the ability to manage multiple transaction workstreams simultaneously.

Key Responsibilities

Transaction Execution & Origination

• Lead execution workstreams across GP-led secondary transactions, e.g. continuation funds, portfolio sales and other liquidity solutions.
• Develop, review and oversee complex financial models and valuation analyses.
• Prepare and review confidential marketing materials, investor presentations, transaction memoranda and management presentations.
• Coordinate financial, operational and commercial due diligence processes.
• Manage transaction timelines and support communication among clients, investors and external advisers.
• Analyse portfolio company performance, valuation trends and strategic alternatives.
• Identify transaction risks, opportunities and key findings and communicate recommendations to senior team members.
• Ability to draft high impact and professional power point presentations for highly sophisticated investors.

Secondary Advisory Market Expertise

• Develop deep knowledge of private equity, growth & venture, private credit, infrastructure and real asset investment strategies.
• Monitor and understand private market fundraising dynamics, secondary market developments and capital formation trends.
• Analyse institutional investor behaviour, liquidity needs and portfolio management strategies.
• Evaluate market conditions impacting secondary transaction pricing, execution and investor demand.
• Conduct industry research and strategic assessments to support client conversations and transaction recommendations.

Client Relationship Management

• Serve as a day-to-day contact for clients, institutional investors and transaction counterparties.
• Develop an understanding of client objectives, fund strategies and portfolio construction considerations.
• Participate in client meetings, management presentations and investor discussions.
• Assist senior bankers in developing strategic recommendations and liquidity solutions.
• Deliver responsive, thoughtful and high-quality client service throughout transaction processes.

Leadership & Team Development

• Manage and mentor Analysts, providing coaching, guidance and constructive feedback.
• Review financial analyses, presentation materials and transaction deliverables prepared by junior team members.
• Support training and onboarding efforts for incoming Analysts and Summer Interns.
• Contribute to recruiting and broader team development initiatives.
• Foster a collaborative and high-performance team culture with a Can-Do attitude.

Business Development

• Support origination and business development efforts across Secondary Advisory and the broader PCA platform.
• Conduct market research on alternative asset managers, institutional investors and private capital market trends.
• Assist in preparing pitch materials and client proposals.
• Identify emerging themes, liquidity opportunities and market developments.
• Contribute to sector insights and thought leadership initiatives.

Risk Management & Compliance

• Ensure all activities comply with applicable regulations, firm policies and professional standards.
• Maintain the highest standards of professionalism, accuracy, confidentiality and integrity.

Qualifications

Required

• Bachelor's degree with a strong academic record.
• 3-5 years prior experience in investment banking, secondary advisory, private equity, fund finance or alternative asset management.
• Demonstrated experience supporting or executing complex transactions.
• Strong understanding of accounting, corporate finance and valuation methodologies.
• Advanced financial modelling and analytical capabilities.
• Exceptional written, verbal and presentation skills.
• Advanced proficiency in Microsoft Excel and PowerPoint.
• Strong project management and organisational abilities.
• Ability to manage multiple workstreams simultaneously while maintaining attention to detail.
• Demonstrated leadership potential and commitment to mentoring junior professionals.
• Strong interest in private markets and alternative investments.

Preferred

• Strong financial modelling skills and understanding of corporate finance concepts.
• Exposure to private equity, private credit, infrastructure or real asset investment strategies.
• Experience interacting directly with clients, investors or senior stakeholders.
• Proven ability to manage Analysts and review analytical work products.
• Familiarity with GP-led transactions, continuation vehicles or private market liquidity solutions.

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