Private Equity Secondaries 101

Today we sit down with Justin Resnick, a Managing Director at Evercore to discuss private equity secondaries — one of the fastest growing, yet least understood segments of the private capital world. He explains the evolution of secondaries and their function as a tool for managing distress and success in equal measure. We talk about the explosive growth in the industry, the shifts in philosophy amongst GPs and LPs, and the widespread buy-in from many of the biggest names in Private Equity. And finally, we explain the career path for young candidates or experienced practitioners looking to gain a foothold in the space.

Justin Resnick is a managing director in Evercore’s Private Capital Advisory group. He is responsible for originating and advising financial sponsors on strategic GP-led secondary market solutions. Justin has more than a decade of experience advising clients across a range of strategic deals, representing numerous market-leading sponsors on multi- and single-asset continuation funds, GP stake sales, mergers and acquisitions, and other capital raising transactions. Prior to joining Evercore, Justin was a member of the secondary advisory team at Houlihan Lokey and also worked in the global energy group in Citigroup’s corporate and investment banking division.
He holds a B.B.A. in finance and accounting from Emory University, where he was also captain of the men’s basketball team.