Duff and Phelps IBD Chicago Vs. Baird IBD Milwaukee

I have ft offers from both and am torn on which to choose. Both MM with seemingly good culture and deal size. D&P recent acquisition by Carlyle could be a positive.

 
Best Response

In the MM arena, the names aren't even close to comparable. Baird is a far superior firm in terms of reputation. The folks I know that have worked at D&P said they really struggled to get relevant deal flow and primarily worked on valuations / fairness opinions. On the other hand, Baird is a premier MM name with fantastic deal flow and good placement into Mid-West MM PE shops. If you're only in it for the analyst stint, I think you will regret not choosing Baird even if it is in a less desirable geographic location.

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surferbarney:

Why the Duff and phelps hate? Weren't they 2nd or 3rd last year in M&A deals for MM. There # of cases was pretty close to Lazard.

Not sure who you are thinking of, but it wasn't D&P.

They are well back in the list for the Top MM shops. Not even in the Top 20 according to Pitchbook for 2012.

And I don't think D&P is a bad shop. But, Baird is in a different league.

 
surferbarney:

I just did a quick google and saw a 2012 list of M&A MM and they were right below Lazard which was below houlihans

If you are referring to this... http://www.genequityco.com/pdf/MARankings.pdf ...look at the deal sizes. Not to mention, there is no way to accurately judge deal volume below $100mm because no one discloses purchase price on deals that small.

They also spelled Moelis wrong.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
surferbarney:

I see the points. I was just curious, not particularly defending Duff....duff

Not trying to be a douche, just want to make sure OP doesn't make a bad decision based on that data. Baird is head and shoulders above D&P.

"For I am a sinner in the hands of an angry God. Bloody Mary full of vodka, blessed are you among cocktails. Pray for me now and at the hour of my death, which I hope is soon. Amen."
 
surferbarney:

I see the points. I was just curious, not particularly defending Duff....duff

Again, it isn't a bad shop. But, it isn't on the same level and doesn't place nearly as well into MM PE. Another issue with D&P is that you could be dragged into too many fairness opinions and valuations. People have complained about that aspect, although it may be more segregated with the new ownership now (IB separate from FO/BV).

 

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