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New York, NY

2026 Investment Banking Summer Associate Program (Private Capital Advisory)

Internship
Financial Services
Finance
October 22, 2025

Morgan Stanley

Investment banking and financial services
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Morgan Stanley is a worldwide leader in investment banking. We are one of the top firms in mergers & acquisitions (M&A), underwriting of equity transactions, corporate debt issuance, and high-yield debt financing. With professionals in 30 countries, we are consistently recognized for our performance in traditional and innovative financing solutions, helping clients around the world to make decisions about their business strategy and financial structure.

Role and Responsibilities

Morgan Stanley's Private Capital Advisory (”PCA”) team is a global team focused on advising leading financial sponsors and institutional investors on a wide range of strategic secondary market liquidity solutions including, but not limited to, continuation funds, strip sales, fund tender offers and private IPOs. The team works closely with industry and product groups within investment banking, as well as other business units across the firm to provide relevant market insights, structuring advice, and best-in-class execution to our clients.

As a member of the team, successful candidates will be responsible for providing advisory, structuring and execution services to clients with investments across the private capital universe. The successful candidate will work closely with professionals throughout the firm to deliver high quality advice to our clients. You will play an important role on a team that includes senior professionals who will encourage you to go beyond the numbers and think creatively. Roles and responsibilities of a Summer Associate vary but may include:

Qualifications and Skills