As the secondaries market expands, competition for talent continues to intensify
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The secondaries market continues to experience significant growth, driving heightened competition for talent across the asset class. In a recent article for Buyouts, James Ellis, Head of Primaries, Secondaries & Co-Invest, shared his perspective on the recruitment trends shaping the market and the factors attracting professionals to the space.
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"I can't think of a major secondaries name that hasn't hired at least one person this year or isn't running a process right now."
Talent demand hits new highs
James has highlighted the unprecedented level of hiring activity currently taking place across the secondaries market. "I can't think of a major secondaries name that hasn't hired at least one person this year or isn't running a process right now", underscoring the strength of demand for talent across the asset class.
Much of that demand is concentrated at the associate to vice president level, where firms are increasingly looking to build teams rather than make individual hires. As James explained, "It's mostly at associate to VP level, and rather than bringing on just one person, they're often making multiple hires." He added that while secondaries have historically been an active recruitment market, "I can't remember it ever being this busy."
The article also explored how firms are widening their talent pools in response to this demand. Professionals from buyout backgrounds are proving particularly attractive, with James noting that he has "placed quite a few people from buyout shops in recent years."
Much of that demand is concentrated at the associate to vice president level, where firms are increasingly looking to build teams rather than make individual hires. As James explained, "It's mostly at associate to VP level, and rather than bringing on just one person, they're often making multiple hires." He added that while secondaries have historically been an active recruitment market, "I can't remember it ever being this busy."
The article also explored how firms are widening their talent pools in response to this demand. Professionals from buyout backgrounds are proving particularly attractive, with James noting that he has "placed quite a few people from buyout shops in recent years."
Attracting talent through broader deal exposure
Beyond the strong hiring environment, James highlighted the opportunity for professionals to gain broader transaction experience as a key attraction of the secondaries market. "Potentially the biggest attraction is the number of deals you can complete in secondaries," he said. Whereas professionals at primary funds may spend months working on a single transaction, secondaries investors can gain exposure to a significantly higher volume of completed deals. As James observed, "You're far less likely to spend six months on a transaction that you don't ultimately win."
With deal activity increasing, new funds continuing to launch, and investor demand remaining strong, the secondaries market shows little sign of slowing. As firms continue to expand, competition for experienced talent is expected to remain a defining feature of the market.
With deal activity increasing, new funds continuing to launch, and investor demand remaining strong, the secondaries market shows little sign of slowing. As firms continue to expand, competition for experienced talent is expected to remain a defining feature of the market.
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