Exploring a career in Private Wealth within Private Markets
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Private wealth is rapidly becoming a key growth driver in private markets, as individual investors increase their allocations and firms expand beyond traditional institutional capital.
To explore this shift, we hosted a webinar featuring professionals from Ares, EQT and Hg, led by Lauren Chaya, Vice President in our IR & Fundraising team. The discussion focused on careers in the private wealth channel, how the space is evolving, and what it takes to succeed.
To explore this shift, we hosted a webinar featuring professionals from Ares, EQT and Hg, led by Lauren Chaya, Vice President in our IR & Fundraising team. The discussion focused on careers in the private wealth channel, how the space is evolving, and what it takes to succeed.
Missed our recent webinar? Listen to the recording here
Catch up on our recent webinar. The session explored careers in the private wealth channel within private markets, with insights into how the space is evolving and what it takes to succeed. Designed for early-career professionals from investment banking, consulting and related fields, it offers practical guidance on building a career in this rapidly growing area of private markets.
Definition and scope of the
Private Wealth channel
The private wealth channel covers a broad range of investors, including private banks, wealth managers, family offices and high-net-worth individuals. It has become a major growth area in private markets as individual investors remain under-allocated relative to institutional investors, creating a significant opportunity for firms able to provide the right access and education.
Team structure and day-to-day work in wealth teams
Wealth teams cover a broader variety of outputs, spanning fundraising, relationship management, product strategy, education, portfolio support, and internal coordination. In leaner teams, junior professionals may gain exposure to a wide range of responsibilities early on, while more established teams tend to be more specialised.
The day-to-day can vary significantly depending on the role. Some positions are highly client-facing and distribution-led, while others are more focused on product, portfolio management or strategy. This makes the channel attractive to candidates with both commercial and analytical skill sets.
The day-to-day can vary significantly depending on the role. Some positions are highly client-facing and distribution-led, while others are more focused on product, portfolio management or strategy. This makes the channel attractive to candidates with both commercial and analytical skill sets.
Accessing and partnering
with wealth platforms
Getting onto a wealth platform is usually a complex process involving multiple stakeholders. It often involves working with CIOs, heads of alternatives, research teams and advisors, while navigating due diligence, fund structure questions and regional regulatory considerations.
Success depends on more than platform approval. Strong partnerships require product fit, clear and consistent messaging, ongoing education and regular engagement with advisors and end investors over time.
Success depends on more than platform approval. Strong partnerships require product fit, clear and consistent messaging, ongoing education and regular engagement with advisors and end investors over time.
Product/structural trends: Evergreens and distribution vehicles
One of the biggest drivers of growth in the channel has been the rise of evergreen structures and other retail-friendly vehicles. These have made private markets more accessible by lowering minimums and offering structures which are tailored towards private wealth investors vs traditional drawdown funds.
Vehicles such as ELTIFs, LTAFs and other evergreen formats are helping firms reach broader pools of capital, but their growth has also increased the importance of investor education, particularly around liquidity and long-term investment horizons.
Vehicles such as ELTIFs, LTAFs and other evergreen formats are helping firms reach broader pools of capital, but their growth has also increased the importance of investor education, particularly around liquidity and long-term investment horizons.
Technology and AI
AI is helping wealth teams improve efficiency across reporting, material preparation, diligence responses, and meeting preparation. It is also making it easier to tailor communications and extract key talking points quickly.
That said, private wealth remains a relationship-driven business. Technology can improve process and productivity, but it does not replace judgment, credibility or the ability to build trust with clients and partners.
That said, private wealth remains a relationship-driven business. Technology can improve process and productivity, but it does not replace judgment, credibility or the ability to build trust with clients and partners.
Skills and interview advice
for analysts/associates
Candidates should build a strong understanding of private markets, including both drawdown and evergreen structures, and be prepared to explain how these products fit within client portfolios. Commercial awareness and a clear view of current market developments are also important.
What makes candidates stand out is usually a combination of technical understanding, communication skills, motivation for the wealth channel specifically, and the ability to simplify complex concepts for different audiences.
The right skill set depends on the role. Client-facing positions require strong relationship management, commercial instinct and communication. Product and portfolio-focused roles often require greater modelling ability, analytical depth and comfort working across strategy and fund mechanics.
What makes candidates stand out is usually a combination of technical understanding, communication skills, motivation for the wealth channel specifically, and the ability to simplify complex concepts for different audiences.
The right skill set depends on the role. Client-facing positions require strong relationship management, commercial instinct and communication. Product and portfolio-focused roles often require greater modelling ability, analytical depth and comfort working across strategy and fund mechanics.
Conclusion
The private wealth channel is rapidly reshaping how private markets raise and deploy capital, creating a dynamic and increasingly important career path. As access broadens and products evolve, success in this space will depend on a combination of technical understanding, commercial awareness and the ability to build trusted relationships over time. For candidates, it offers the opportunity to work at the intersection of investment, distribution and strategy, within a fast-growing area that is still early in its development.
Click below to read Lauren's profile and find her contact details.
Lauren's profile
