Brandon Chang

I spent this summer as a Summer Analyst in Houlihan Lokey's Capital Solutions Secondaries group in New York, and I'm returning there full-time as an analyst in July 2027. Secondaries is one of the fastest-growing corners of private equity, and it's also one of the least understood by candidates. On the desk, I worked on GP-led transactions, including continuation vehicles, from the advisory side. I sat in on calls with GPs, LPs, and buyers, and saw firsthand how a deal gets priced against NAV, how the lead investor and syndicate come together, and how alignment terms like carry and GP commitment get negotiated. That gives me a practical view of how the industry actually works, not just the textbook version. I also just went through PE and secondaries recruiting myself, so I know what the process looks like right now: which technicals come up, how interviewers test whether you actually understand a CV versus a traditional buyout, and how to talk about the market credibly with limited experience. My sessions focus on what I know best: breaking down GP-led and LP-led secondaries in plain language, preparing you for secondaries-specific technicals and deal discussions, and helping you position yourself for both advisory and buy-side roles.