2027 Private Equity Summer Analyst

StepStone Group; San Diego (CA); On-site; USD 41,000 - 55,000; Full time

Job summary

StepStone Group is seeking highly motivated undergraduate students graduating between December 2027 and June 2028 to join our Private Equity team as Summer Analysts. This internship offers hands-on experience across private equity, including diligence on leveraged buyouts, growth investments, and fund analyses.

You will conduct due diligence, build financial models, and prepare investment memorandums for the Investment Committee, while gaining exposure to diverse industries and capital

Qualifications

• Must be able to work legally in the U.S. without requiring visa sponsorship now or in the future.
• Undergraduate student graduating between December 2027 through June 2028.
• GPA of 3.5 or higher.
• Strong proficiency in Microsoft Word, PowerPoint, and Excel.
• Excellent written and verbal communication skills.
• Demonstrable analytical capabilities, including strong quantitative/modeling skills.

Responsibilities

• Analyze and diligence investment opportunities, including co-investments and secondary transactions.
• Support quantitative and qualitative research and financial modeling across investment verticals.
• Prepare investment memorandums for presentation to the Investment Committee.
• Engage with fund managers and portfolio company teams for underwriting insights.
• Contribute investment recommendations and present findings to the Firm’s Investment Committee.
• Collaborate with team members to conduct market research across industries and geographies.

Job description

We are global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data driven insights to the world’s investors. Leveraging the power of our platform and our peerless intelligence across sectors, strategies, and geographies, we help identify the advantages and the answers our clients need to succeed.

Application deadline: Rolling basis

The team you’ll join

StepStone’s Private Equity (PE) team conducts diligence on and invests in opportunities across the private equity landscape. The team invests directly in companies alongside other sponsors, completes LP and GP‑led secondary transactions, and evaluates primary investment capabilities on behalf of StepStone’s advisory and discretionary clients. Through analysis of leveraged buyout deals and funds, StepStone’s PE team works across a wide array of industries and capital structures.

About The Role

StepStone is looking for highly motivated undergraduate students graduating between December 2027 and June 2028 to join our Private Equity team as Summer Analysts. This internship offers an exciting opportunity to gain hands‑on experience across the private equity industry. By analyzing leveraged buyout and growth investment strategies, Summer Analysts will gain a broad exposure to diverse industries and capital structures, while developing familiarity with a wide range of private equity funds and approaches.

What You’ll Do

As a Summer Analyst, you’ll work collaboratively in a team environment to conduct due diligence, financial modeling and preparation of investment memorandums across our investment verticals: private equity fund investments, co‑investments, and secondaries transactions. You’ll also have the opportunity to contribute investment recommendations and present them to the Firm’s Investment Committee.

Key Responsibilities

• Analyze and conduct diligence on co‑investment opportunities and secondary transactions
• Interact with fund managers/portfolio company management teams to conduct in‑depth portfolio and asset‑level underwriting and analysis
• Perform quantitative and qualitative research and financial modeling/analysis on companies and assets across stages (i.e., buyout, venture capital/growth equity, distressed/credit, etc.), industries and geographies
• Conduct due diligence on potential fund investments (team, strategy, performance), and synthesize findings in an investment memorandum to be presented at the Firm’s Investment Committee
• Speak with senior executives to gather insights regarding the style and effectiveness of target fund managers
• Perform market research using publicly available information and proprietary databases to identify, quantify and analyze macroeconomic trends across a variety of industry sectors
• Construct an argument around an opinion and effectively communicate that argument

What We’re Looking For

• Must be able to work legally in the U.S. without requiring visa sponsorship now or in the future
• Undergraduate student graduating anywhere from December 2027 through June 2028
• GPA of 3.5 or higher
• Strong proficiency in Microsoft Word, PowerPoint, and Excel
• Excellent written and verbal communication skills
• Demonstrable analytical capabilities, including strong quantitative/modeling skills
• Collaborative mindset with a proactive and team‑oriented approach

Why join us?

At StepStone, we foster a supportive and inclusive team culture where collaboration and learning are the core of what we do. Our collegial atmosphere encourages teamwork, mentorship, and professional development. This summer internship is a great opportunity to gain practical experience and develop critical skills that will help you launch a successful career in private equity.

Application deadline: Rolling basis

Salary: $35/hour

The salary is an estimate of pay for this position. Actual pay may vary depending on job‑related factors that can include location, education, skill, and experience. The salary does not include any benefits or other forms of possible compensation that may be available to employees.

At StepStone, we believe that our people are our most important asset and crucial to our success. We are an Equal Opportunity Employer that strives to create an environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups as well as mentorship programs to enhance the employee experience for all.

As an Equal Opportunity Employer, StepStone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information or any other characteristic protected by law.

Candidates must be at least 18 years old to apply.

Developing People at StepStone