The William Blair Private Capital Advisory (PCA) team advises alternative investment managers on a wide range of transactions, including continuation funds, strip sales, fund recapitalizations, direct secondaries, LP tender offers, and others. The PCA team serves fund managers pursuing a wide spectrum of investment strategies, such as buyouts, growth equity, venture, distressed/turnaround, infrastructure, mezzanine, credit, and real assets. From transaction origination through closing, members of our PCA group work as a unified team with colleagues from industry coverage, M&A advisory, and the Financial Sponsors Group to provide tailored solutions designed to optimize client outcomes.
The secondary advisory role combines investment banking activity (deal origination, due diligence, financial modeling, strategic and financial advice, structuring and execution) with capital markets responsibilities (institutional coverage and distribution).
The private equity secondary market accounted for over $130 billion of transaction volume in 2021 and is one of the fastest-growing asset classes within the alternative investment ecosystem.
We know you have choices on how you spend your summer but encourage you to apply for William Blair’s 2026 Private Capital Advisory Summer Analyst Program. Take the opportunity to build on the fundamentals of your academic background, gain practical knowledge to help prepare you for your next steps and be part of an organization that fosters innovation and invests in our most important asset, our people.