LevFin vs. FinSpon

im a little shaky on this too

Leveraged Finance handles the underwriting and execution of leveraged loans - whether they be sponsor-backed or corporate. If the bank has Leveraged Finance under the DCM umbrella, you may also be underwriting bonds. Typically you're a liason between the industry groups or Financial Sponsors group and Syndications desk or trading desks. Financial Sponsors are, as you said, an industry coverage group that specializes in private equity clients. Any leveraged buy-out, sponsor backed IPO, or portfolio company transaction (sale, divestiture, acquisition) can warrant the appearance of someone from Sponsors.

I would argue that Sponsors is quieter than Lev Fin right now, but both are pretty dead.

The post above has the right idea in terms of what lev fin and sponsors do
I would argue on the other hand that lev fin is more slow than sponsors depending on what bank you go to
because lev fin specializes in the execution process (usually) its likely that without deals and transactions being executed, the less activity
sponsors on the other hand still has to cover its private equity clients and model and pitch proposed deals despite that fact that most deals aren't going through. nevertheless, there is still work that needs to be done since sponsors are more client, modeling, and setup focused rather than on the execution side
bottom line: both are still pretty slow but still worth going into if this is what you want to do

Agreed, I only say Lev Fin may be busier since corporate and strategic deals may still be getting done. All the sponsor groups that I've seen are double staffing analysts on deals, and giving them busy work or pitching deals that will never get done. Pretty brutal work.

That clarifies things quite a bit. Thanks guys.