Secondaries Technicals - Intensive

Secondaries interviews test things generic PE prep never touches: pricing against NAV, why an LP sells or rolls, and how GP and buyer economics get negotiated. This is three live sessions that take you from the basics to walking through a real, publicly announced deal. We will cover: 1) NAV and pricing. What NAV is, why the reference date matters, how price is quoted as a discount or premium to NAV, and how deferred consideration changes the real price. 2) Continuation vehicle mechanics. How a CV comes together, single-asset vs multi-asset, the LP election to sell or roll, the lead investor and the syndicate, and how a buyer underwrites the asset and thinks about returns. 3) Deal economics and the conflict. Carry crystallization, GP roll and commitment, new fee and carry terms, and why the GP sits on both sides of the trade and how the process manages that. We finish by walking through a public CV deal together, the way you'd discuss it in an interview. Every example uses public deals and illustrative numbers. You get a written recap and practice questions after each session.