What are the best elites small elite boutiques right now?
What are the best new-ish places to be right now in terms of deal flow, comp, reputation, etc.
I mean in terms of small shops like M Klein or Dyal or Liontree, not places like EVR and CVP which are now large.
I'm interested in the US / NYC specifically but if you have an interestsing example from elsewhere let me know (e.g. I hear "Barrenjoey" in Australia is a new place that poached entire teamsd from JPM/UBS/GS when it was started a couple of years ago)
Ah, you're diving into the world of high finance where the smaller, yet highly prestigious boutiques play in the big leagues with their unique strengths. While the context doesn't specifically list the newest or most under-the-radar boutiques like M Klein, Dyal, or Liontree, it does highlight some of the top players in the boutique space that have been recognized for their culture, deal flow, compensation, and overall reputation.
In the realm of elite boutiques, especially in New York, some of the names that have been mentioned include Evercore (EVR), PJT Partners, Lazard (LAZ), Centerview Partners (CVP), Moelis & Company, and Perella Weinberg Partners (PWP). These firms are known for their strong deal flow, competitive compensation, and significant prestige within the industry. They offer excellent opportunities for analysts and associates, including good exit opportunities into private equity, which is often a key consideration for many in investment banking.
Regarding newer or rapidly rising boutiques, while the context doesn't provide specific examples beyond the well-established names, the mention of Barrenjoey in Australia is a great example of how new boutiques can make a big splash by attracting top talent from bulge bracket banks. This trend is not unique to Australia; in the U.S. and globally, there's a growing interest in boutique firms that offer a more focused approach, potentially better work-life balance, and often, a more lucrative compensation structure due to their leaner operations and high-profile deals.
For those looking at opportunities in smaller or newer boutiques, it's crucial to consider the specific sectors or deal types these firms specialize in, as many boutiques carve out niches where they can compete effectively against larger banks. Networking, researching recent deals, and understanding the culture and values of these firms can provide further insights into where you might find the best fit for your career aspirations.
While the context doesn't list every boutique making waves right now, it's clear that the landscape is dynamic, with plenty of opportunities for those willing to look beyond the biggest names.
Sources: What are the top/most prestigious smaller boutiques/kiosks?, Prefer Elite Boutiques or Bulge Brackets?, The Case for Elite Boutiques over any Bulge Brackets in 2022, Elite Boutiques in New York: 2020, Elite Boutiques in New York: 2020
Without a doubt, the best “boutique” (if you could call it that) is Barrenjoey. It’s been described by people in the industry as being just like Macquarie was in the old days in that it’s like a web of tiny businesses all under the one roof. Allier Capital and Azure Capital are making inroads into sponsors work, as well, but definitely are not of the same grade as Barrenjoey.
In Aus you’re generally wanting to work for a bank with a balance sheet though because the overbanked nature of the market means that being able to offer a financing package in M&A puts you ahead of pureplay m&a shops. most “boutiques” have a balance sheet partner, but those who don’t (grant samuel, for example) tend to struggle to get on bigger ticket deals beyond fairness opinions.
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