Associate (Private Equity)

About the role

Council Capital is a healthcare-focused private equity firm based in Nashville, Tennessee, managing over $350 million in committed capital. We invest in lower middle market healthcare companies where we see the potential to scale purpose and performance. Our investments span control and minority positions in businesses with enterprise values between $10 million and $100 million. What sets us apart is the Council Model—a proven framework that surrounds founders and leadership teams with a powerful combination of support: our CEO Council of seasoned operators, our Strategic Healthcare Investors who bring real-world insight and access, and our internal Value Creation Team, focused on enabling growth through talent, systems, and strategy. At Council Capital, we’re not just backing companies—we’re helping build enduring businesses that improve lives and shape the future of healthcare. The Associate role is not just a support role built around modeling requests. You will find deals, underwrite them, and help support them—you will leave the firm better equipped than you found it.

Responsibilities

• 40% Business Development Support – mid-level-led themes on development and outreach, and own thesis segments of your own: the memo, the target list, and the live outreach, with mid-level approval before anything goes out. Business development is a 40% minimum. When execution is light, your time shifts heavier to sourcing.
• 40% Diligence and Execution – models, IC memos, and supporting analysis on live deals. You are responsible for analyzing new opportunities and supporting mid-levels in diligence workstreams end-to-end, including third-party providers and the timeline.
• 20% Portfolio Support – portfolio companies as assigned, alongside mid-levels and Partners, joining boards as an observer. Waterfalls, board materials, and reporting with variances flagged before management raises them.

What you will own:

• A quarterly to semi-annual deep dive on a thesis segment, from the memo through the target list through conversations with owners and intermediaries. This might be a segment of a theme a mid-level is driving, or a smaller-scale theme of your own.
• The financial model on live deals: pressure-testing,