Financial Sponsors Group
There really isn't a whole lot of discussion on this board about Financial Sponsors. Can anyone enlighten me on their experiences in the group? Maybe a day in the life? The type of work done?
Is this group known to be a sweatshop at certain banks?
How does it prepare you for various exit ops?
Financial Sponsors Group Investment Banking
The financial sponsors group is a coverage group. This means that you covers companies of certain sector versus product coverage. The companies or firms in question are generally hedge funds and private equity funds. The work is generally less technical in nature. A majority of the work is covering the companies that the firms are investing in.
Financial Sponsors : Exit Opportunities
Here are some advantages of working in a financial sponsors group. One, working directly with PE firms hedge funds and portfolio companies. Two, exposure to multiple industries that the client is invested in. Three, exposure to different client investment styles.
Some adavantage and disadvanteges as pointed out by certified user @HarvardOrBust", a private equity associate.
Pros:
- You will be exposed to a variety of transactions (IPO, LBO, M&A, div recap, etc)
- Exit opps are generally strong and geared towards PE if you're in a group that "does everything" (MS/BAML/CS/etc)
- More exposure to credit than most groups... very lev fin heavy
Cons:
- Clients are PE shops and are very savvy which means a lot of the analysis is already done
Financial Sponsors Group Rankings
The following groups are the top ten financial sponsors groups.
Sourced from theJP Morgan
A note on interpreting league tables when weighing an offer by certified user @10x Leveraged", an investment banking analyst :
Strictly in terms LBO financings, then CS/JPM/BAML have the best financial sponsors groups for that. If you're talking about the entire spectrum of product offerings / dealflow related to financial sponsors clients (exits, securitization, hedging, add-on M&A etc.) then the league tables I've shown above are generally accurate. However, take the league tables with a grain of salt because the standings change frequently year after year.
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Would appreciate some insight as well
Financial Sponsors can mean different things according to firm.
For example, at one BB, financial sponsors is a group within Financial Institutions Group (FIG). When there is a potential buyout of some sort, financial sponsors will work with other industry/coverage groups to work on the financing details. It's a pretty neat position if you don't want to be stuck in one industry -- as you develop relationships with senior bankers in financial sponsors, the senior people tend to specialize in a few industries and if you play your cards right you can get A LOT of exposure to several different clients and bankers within the firm.
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To add on to what was said above. The most common product that a financial sponsors group can offer its clients is financing. Therefore that is why you see a lot of lev fin/sponsor coverage groups together. In addition, at the larger firms you are not only responsible for the sponsor itself, but also any needs of the portfolio company (i.e. refinancings, commercial paper, etc.) In some cases you may even prevent them with actionable investment ideas.
Any thoughts on exit ops for those of us in a financial sponsors group? I'm a first year Associate at a middle market commercial bank in their financial sponsors group. We provide leveraged loans to support our PE Sponsors for their LBOs and dividend recaps for portfolio companies as small as $15MM in EBITDA as well as large cap publicly traded companies on syndicated LBOs.
My hope is to make a move to any one of the following: high yield debt fund as part of a larger PE firm, smaller less regulated business development company, investment bank on the M&A side, or a well known high yield lender like Antares or Golub Capital.
Any thoughts or recommendations for how I can make this move? I'm only 6 months in as a first year associate with a former background as an underwriter in traditional corporate banking. Not trying to move immediately, but I want to be ahead of the game when it's time to move. Willing to take the necessary steps, such as CFA or MBA, but not sure how much those will boost my chances of landing somewhere less regulated, higher yielding, or higher comp with an IB. Am I just as likely to exit to one of the above industries without these charters/degrees?
Financial Sponsors Exit Opps (Originally Posted: 02/19/2015)
Hey guys,
I was curious about the types of exit opportunities there are in Financial Sponsors. Where do people usually go after their stint? Is there a lot of modeling? Thanks
By nature, people in financial sponsors move over to PE/HF. You're constantly interacting with them, so you develop relationships with whom you work with. The magnitude of modeling varies by firm.
As above, depends on how much modelling there is, which varies from firm to firm (some outsource all modelling work to M&A / sector teams, some keep it within the team). Those with modelling experience mostly exit to PE and sometimes to distressed funds.
Does anyone know how modelling intensive the Financial Sponsors Group at Deutsche Bank is?
Pretty modeling intensive.
any (recent) insight on JPM sponsors compared to m&a or LevFin? chance of a megafund offer if one snags the group?
.
n/a
The answer is that it varies pretty significantly across firms. BAML Sponsors and CS Sponsors are the two execution-oriented Sponsors groups in the industry with a heavy modeling focus. Analysts from both groups consistently have some of the best PE placements on the street.
Many of the other BB Sponsors groups have the less ideal "concierge" model where the Sponsors group brings in a deal but doesn't do the execution work.
any idea on JPM sponsors over lets say M&A? in terms of MF exit opps
Financial Sponsors Analysts (Originally Posted: 03/01/2010)
Anyone on WSO currently work in Financial Sponsors and can provide a "day in the life" rundown? Thanks in advance.
Bump
bump
bump
Which banks and region?
what does sponsors do (Originally Posted: 10/05/2006)
What does the sponsors group do?
Silly Dan...you used to tell us you WORKED in sponsors! And to think you don't know what fsg stands for!
Please stop calling me Dan. Why do you think I my name is Dan?
Silly Dan
Silly Dan
Financial Sponsors - Still a good group? (Originally Posted: 10/09/2009)
Is this still a good group? Will exit opps still be good if you work on only a few deals as an analyst?
Much better to be in coverage or lev fin. At my BB, lev fin runs the model, coverage has the relationship with portfolio company, and senior banker in Sponsors has the relationship with Sponsor. The juniors in the group get very little exposure to deals.
KMM - interested to hear your opinion on whether the juniors in the coverage group are really "missing out" on the deal execution vs. LevFin. Could they fill in the gaps in their knowledge base or execution skillset from internal items?
Modeling experience in Sponsors? (Originally Posted: 03/13/2013)
What do you model in Sponsors? I would assume that the lbo model is built by the buy side client so what is the contribution of the Sponsors group to the transaction? How does the quality of the modeling experience compare to a group like M&A? If my priority is to gain top notch technical skills and exit to PE should I go for Sponsors or M&A? I will be an SA at CS NYC
Depends on the bank. This has been discussed somewhere here.
They're both great groups that should get you plenty of looks for PE. I'd talk to people in both, see who you like better. CS has one of the best Sponsors groups out there, and M&A always gets looks. Can't go wrong.
JPM sponsors apparently does a lot of LBO modeling. Heard from a friend.
Financial Sponsors - Modeling exposure? (Originally Posted: 10/31/2010)
What type of modeling exposure do you get in Financial Sponsors? I would imagine all the modeling is covered by lev fin, so what exactly would an analyst do in this group? Make a ton of profiles?
Depends on the dynamics at the bank.
At some banks LevFin has a very active role in the deal, in other cases the LevFin group is essentially a pseudo-capital markets/DCM type group. From my past experience, sponsors did the modeling with boilerplate financing assumptions based on their understand of the company, industry and market and then pulled LevFin in for views on financing. So LevFin would fine tune the financing package to be more realistic. Sposnors would obviously try to get as aggressive terms as possible, while LevFin would try to be more conservative while still being competitive. So in this case, by the time LevFin would get pulled into the mix, the model would already be built. They'd essentially supply the sponsors group with fine tuned capital structure inputs. Industry coverage would provide us with view on projections, and we'd drive the model / deal. In that case, it was all about who owned the relationship. Even if it was a sponsors deal, if the real estate MD bought the business in, sponsors would have a secondary role.
In some cases, LevFin plays the role discussed above. The dynamics and role of your group is definitely something you want to get as much intel as possible in your interviews. Obviously its in their best interests to oversell the importance of the group to attract top candidates, but its upto you to ask the right questions to get a pulse on reality.
Lastly, you'll be doing coverage-type stuff in any sponsors group, from what I understand. Whether your driving the deal and the modeling or not, you'll still be monitoring your top clients investment activity, portfolio companies, etc...
What about specifically at JPM?
I had several first round interviews w JPM Sponsors. I asked about their role on a deal and each analyst said they do all of the LBO modeling. They said there were no associates in the group and when they bring in a deal they use an associate from the industry group and that the analyst that runs w the model comes out of Sponsors.
You don't do much modeling in most sponsors groups. You take the sellside model or the PE model that they give you and data entry your own assumptions in (senior bankers give to you).
You have no idea what you're talking about.
Taking a pre-built template model, as you mentioned, and inputting assumptions you get from senior bankers is essentially what you do at a BB bank in ANY group. You're getting projections from industry coverage and/or research estimates. You're getting capital structure and pricing from LevFin and DCM guys. Once a transaction is live and likely to close, you're doing in depth projections and meeting with management etc... but most of that is industry coverage. Personally, I wouldn't do industry coverage for shit. Product side is where its at. Sponsors is itself a coverage group, but its not an industry coverage group I consider it covering a basket of products with those products being LBOs, sponsor exits, bolt-on M&A, dividend recaps etc...
^not true.
oops i was referring to boutique bank 4 life
FSG (Originally Posted: 04/01/2007)
I realize that FSG is a generalist product/industry for PE firms. However, if there is a separate LevFin group, what does FSG do exactly? Do they act as more of relationship bankers? Do they model/execute their own deals?
If you know anything about FSG, feel free to give your opinions.
bump
FSG is exactly what it is. There is no product involved, it is an industry coverage group where the industry happens to be private equity. Lev Fin is the product group for underwriting and distributing paper.
Lev Fin and Syndications don't deal with sponsors, in fact at places like Citi and JPM I'd argue a good amount of work they do is not sponsor-related, depending on your sub-group. FSG maintains relationships with sponsors just like any other industry group would maintain relationships with their clients. Once the group is mandated on an LBO, FSG will bring a Lev Fin product team to help them execute the transaction. By that I mean arrange the financing, coordinate the bank groups, underwrite the loans or bonds, go on road shows, and distribute.
Depending on what bank you're at, FSG or Lev Fin analysts could be handling the heavy lifting in the modeling, although I'll argue that most LBO structures without any immediate carve outs, refi's, hybrid products or dividend recaps are simple enough to do for any analyst, anyways. Where the FSG team adds value is the relationship with the sponsor and the knowledge of the specific transaction between acquirer and target. Where Lev Fin brings value is how close they are to the market and knowing what structure and subsequent pricing the market will be willing to take.
Probably 7 times out of 10, FSG is where you want to be, though.
Why do you say 7 out of 10 times FSG is where you want to be? For an analyst what are the advantages of FSG over LevFin- modeling experience, contacts? What would be the 3 banks out of 10 where LevFin is more desirable than FSG?
At places like CS and UBS, you definitely want to be in Sponsors. I think LBO modeling is cake to begin with, but those kids place very well. Ditto for JPM, Citi (FEG) and Lehman.
Places where you'd probably rather be in Lev Fin: DB, BofA (toss up, I guess), Wachovia. At GS, I would argue go industry group over FSG or Lev Fin. All my friends in industry groups are getting amazing M&A experience.
Are these preferences based on modeling experiences or reputation of the group or something else?
Can you tell me what you think of Citi FEG? Do they do a lot of modelling/execution? How does it stack up against its competition? Also, how good is it compared to Citi M&A, Communications, etc?
Thanks
I'm just talking purely in the sense of what kind of experience to expect, what kind of contacts you'll make and what opportunities are possible.
I'm not at Citi so I can't say for sure. My friends there say FEG is one of the top 5 for sure. Industrial, TMT, are good...M&A is obviously a top group to be in at any bank.
Lev fin and FSG are the same grp. called the FSLF restructuring grp.
Stay away from FSG, this is a pitch group. All the modeling is done by the Lev. Fin team...
In general, or are you talking about a particular bank?
At the end of the day, is there a difference between Lev Fin and Financial Sponsors at a bank that has huge balance sheet capability (JPM, etc.)? Don't the two groups work hand in hand on most, if not all, deals?
FSG will do alot of the work to get the deal mandated (lev fin will of course help but FSG drives the process), that means pitching, getting credit approvals, dealing with the sponsor, and running with the model. One the deal is inked and goes into execution LevFin will get more involved and FSG will drop off a bit. One big difference, where i work, Lev Fin does very little modeling on sponsor deals
what about cs sponsors vs. lev fin? which is executional?
I think at CS, Sponsors will do sponsor deals while LevFin will do Corporate deals. At least that's how I see it most OMs.
Which group, LevFin or sponsors is executional at DB and BofA? How do these groups differentiate themselves at these banks?
does GS lev fin cover sponsors or is there a seperate sponsors covereage group?
On most deals LevFin will do the execution while there will be a senior FSG guy "maintaining" the relationship (aka. going to the bank meeting/closing dinner).
according to their careers website there is a separate sponsors group.
throw some bumps on that bitch
In summary, do your research. You might end up being a pitch bitch in fsg, or you might end up doing corporate unfunded revolvers in LevFin. So see what each group does at the bank you're interested.
Financial Sponsors Fees (Originally Posted: 02/20/2011)
Hi,
Can anybody provide a source with the annual fees generated from financial sponsors (including loans, bonds, advisory etc) per bank?
Thanks Pivot
Curious about this as well.
not fees specifically, but for lbo loans the 2010 US league table for banks is:
1 Bank of America Merrill Lynch 8,149,270,831 35 18.1% 2 Barclays Bank Plc 5,706,233,331 20 12.7% 3 Credit Suisse 5,068,499,999 17 11.3% 4 General Electric Capital Corporation 3,376,037,891 47 7.5% 5 JP Morgan 2,720,816,667 12 6.0% 6 Deutsche Bank 2,529,999,999 9 5.6% 7 Goldman Sachs & Company 2,000,937,500 5 4.4% 8 RBC Capital Markets 1,938,377,500 11 4.3% 9 UBS AG 1,863,500,000 9 4.1% 10 Citi 1,318,333,333 5 2.9%
this is from reuters loanconnector, 2010 US LBO bookrunner league table. Jefferies is 12, wells fargo 13, morgan stanley 15. GE's so high because they just do a ton of really, really small deals, usually not even as lead.
morgan stanley that low? no way
what do you know about loans and high yield? go back to your boutique, son.
Before crisis in 2006 there was about global fees of $12bn fees from financial sponsors. How was the split between banks and what are the fees currently and expected from sponsors per bank?
these are all for leveraged loans...
ltm sponsor m&a, us announced
Rank Financial Advisor Transaction Value % of Total Number of Deals 1 Barclays Plc 47,681.6 45.73% 34 2 Goldman Sachs & Co. 33,075.1 31.72% 35 3 Bank of America Merrill Lynch 30,593.6 29.34% 43 4 JPMorgan Chase & Co., Inc. 25,340.4 24.30% 21 5 Credit Suisse 20,474.9 19.64% 18 6 Deutsche Bank AG 18,771.1 18.00% 16 7 Morgan Stanley 16,906.6 16.22% 18 8 Centerview Partners LLC 10,817.1 10.38% 4 9 Lazard 9,544.1 9.15% 16 10 Perella Weinberg Partners LP 8,814.4 8.45% 4 11 Evercore Partners, Inc. 8,478.9 8.13% 6 12 UBS AG 8,273.5 7.94% 13 13 RBC Capital Markets 7,167.0 6.87% 11 14 Citigroup 6,365.3 6.11% 15 15 Jefferies Group 4,699.9 4.51% 23
Thanks for the info guys.
Can either of you provide links to sources?
-NR
Financial Sponsors - Bank with best group on the street? (Originally Posted: 10/24/2009)
Which bank has the best financial sponsors group on the street?
How would you rank GS, MS, BofA, DB, CS, and UBS?
Thanks.
disclaimer: purely my opinions and few 1st years on the street
i hear cs fin sponsors was the top sponsor group to be on the street... until people began to leave (getting fired or voluntarily). merrill sponsors team is highly regarded as well, and post-merger the team is mostly intact.
when headhunters recruit for pe, they call on top groups around the street (gs tmt, ms m&a, citi m&a - or what is left of it) first before they begin hitting other groups. merrill sponsors is included in the "top groups" category.
Can't go wrong with MS Fin Sponsors. It's the best.
ms overall is strong franchise - lacks funding that merrill got from bofa. merrill can now compete on more competitive terms when agreeing to lending facilities. but, cs has great sponsor relationships in both u.s. and europe - afterall, it's a relationship driven business. i'm still split between cs & merrill.
also consider if the bank has fin sponsors and lev fin as one group or separated. baml, citi, cs and gs for sure have them separated. can't speak for other bb's. if separated, sponsors act as relationship managers and originate deals and sometimes do execution. if together, the group is both product and coverage so it will for sure originate and execute deals. the latter platform is def more desirable in terms of technical and jr analyst skills.
almost forgot - be careful of bb's pe arms being overly aggressive. ms' pe arm competes more heavily with sponsors than merrill or cs does. ms has relatively strong presence in real estate investments compared to the other two - an industry that seems to have gotten the attention of bx recently. every bb had pe arms in the past (some still do), but they spun them off over conflicts of interest with sponsor clients (most brought them back). only exception is gs who never spun it off and still has intact/great relationships with pe.
bump, any thoughts on current status of lev fin and sponsors grops? PE activity seems to be picking up in recent weeks.
Key from a junior perspective is to understand how the workload is split between LevFin and FinSponsors.
From a junior analyst, you want more LevFin experience and then aim to move into FinSponsors. Best groups are hybrids but you'll find that its a sign of weakness of ECM/M&A platforms which leads FinSponsors to focus only on LevFin
Also, if the groups are comlpletely seperate, LefFin become execution only and you will have limited relationship/interatcion with PE firms.
In my mind, a good FinSponsor team is set up to give its junior bankers exposure on the execution side and have leading franchises in all products (LevFIn, M&A, IBD, Risk) so that your clients are keen to hear from you
Sponsors - seeking blunt color (Originally Posted: 12/01/2016)
Monkeys,
(Disclosure: please don't hit me with: "do a search" I know there are SIMILAR threads, but I have specific questions that pertain to near-future decisions in regards to a few specific banks. - Thanks.)
Hope everyone is doing well. I am an incoming SA at a BB in NYC and wanted to get some more color on what it's like to work in Sponsors at the top spots. Particularly interested in color pertaining to GS, JPM, BAML, and MS.
--- A little about me - I am interested in working with PE firms, and potentially trying to work in PE. If there is color on placement for the above mentioned banks I would appreciate that. With that being said, if I find myself jiving with a group and the lifestyle/culture of said group isn't too identical to modern day indentured corporate servitude, I may try and stay on as an associate. So this may be a career move vs. a 2 year stint deal.
--- What is the GENERAL quality of work whilst working in a Sponsors group? - for those of you contributing to teams in that group, is it interesting? Is it repetitive? Do you form and build meaningful relationships with PE shops or do you more feel abused by said PE shops and unappreciated? (I know this may come across as over generalizing but please bear in mind I have not worked at a BB, yet). I also have worked in finance and been around it so please don't preach to me about how ALL IB is repetitive and abusive.
--- What are the cultures like at those banks? How is the good-guy factor? The hours relative to other competitive groups?
--- Lastly, what is your guys' overall opinion of PE deal flow? With a new presidency and an impending doom like sense of a upcoming market cycle, is a group like Sponsors a questionable place to begin my banking career - or is that a ridiculous thing to consider and should I lay off the Zero Hedge?
Thank you for the time, looking forward to some great insight.
you should make the thread title more clear if you want feedback .. i thought this thread was about weed
So here's some general thoughts on Sponsors. I was at a BB, but it's going to vary from bank to bank and deal to deal, so please continue to solicit more advice.
Positives: - Sponsors, at least at my bank, was a great place to be for PE exits. A lot of kids I know moved from Sponsors and are at top shops. - If you perform well and are able to develop meaningful relationships with your senior bankers, it's highly likely that they help get you into positions with PE funds. They want you to grow up big and strong and become a client. - You should get to see a lot of deal flow, and you get to work with PE funds. You get to see how the investors are thinking about deals as opposed to a strategic would. - If I were to have stayed in banking as opposed to going buyside, I would have 100% wanted to do so in Sponsors. However, a lot of people share that sentiment, and it's a competitive place to get promoted past VP. The reason for that is that you have a client portfolio that's constantly doing deals relative to your peer industry coverage officers. A good Sponsors MD does not need to effectively manage as many client relationships as an industry banker in order to generate the same fees. - Deal toys for days
Downsides: - Downside being I think a decent amount of kids that come out of Sponsors are light on technicals. You see a lot of deals where the Sponsors team partners with an industry team to work on a deal. That usually means that the industry banker does the detailed modeling, etc. You will, however, do a decent amount of "quick and dirty" LBOs. - Sometimes working with PE funds can be a pain in the ass. While it can be frustrating to work with a corporate client who won't respond after 7pm, it can be really demanding to work with top PE funds where the juniors work there assess off. You're a lot more likely to get late night emails and requests from PE clients than you are corporate.
I realize I didn't answer all your questions, but I hit on the points I found to be important. In summary, I would go work in Sponsors. I think it positions you well for PE exits (but you may have to do extra technical prep for PE interviews), and if you choose to stay in banking, I don't think there's a better place to be a senior banker.
Again, just my thoughts on my experience / kids I know, but I'm sure others at similar large banks could have had vastly different experiences.
Yeah above poster is correct. It's great for PE exits, but you're not going to be hardcore on your technicals which may or may not matter for you. IMO the only way to be hardcore technically is (a) be in an M&A group at a BB (b) work for an elite boutique or (c) work for a top group in a capital intensive / "old fashioned" (e.g., not tech / biotech / etc) industry (e.g., prototypical example would be like GS industrials etc). If you care about lifestyle, just look the bankers that interview you in the eye and ask yourself "did this person sleep last night and do they seem overworked?" Do this for each interviewer and you'll be able to guess correctly. Also ask your interviewers "what do you do for fun?" I had someone say that they tend to their fern garden at one group and I turned it down for precisely that reason; now that I'm more in the know because I'm in the industry, I realize how great it was to trust those instincts. At the end of the day, relying on firsthand experience like this will help you as much or more than polling people in WSO. Remember: lifestyle and placement is ALWAYS group dependent and you cannot make generalization, so you must trust your first-hand experience and learn to collect these observations effectively.
Financial Sponsors Groups (Originally Posted: 05/15/2010)
Long time reader and first time poster here. I am a SA from a target who will be working at GS/MS/JPM this summer. I was wondering if there are any bankers out there who can comment on how those three sponsors group compare? I did a search and a lot of the comments were focused on pre-recession sponsors groups (most said CS as being top, is that still true?). Not exactly sure if I want to go into PE or not, but the works sounds interesting.
they're all good. the fact that you suggest that cs was the best before the crisis, but that you don't know which is best now, suggests that changes sometimes anyway, so i don't think it matters too much
congrats man, it'll be a great experience,
Why Sponsors? (Originally Posted: 02/14/2008)
I am trying to come up with an answer to "Why Sponsors" if I get asked in an upcoming interview. I am interested in working with financial buyers to see how they think and what they prioritize, because at some point I would like to go into PE.
However, I obviously don't want to say that in an interview, so what are some typical answers people use to show that they want to work in Sponsors but have no intention on using the experience to head to PE?
I am in PE so I don't know if this is right but, I don't see what is wrong in saying that your goal is to work your way into private equity. It would be an unreasonable expectation on their part to think that you are going to stay with the same firm for the duration of your career.
I think it is OK to state your intention to go into PE. I just finished recruiting with some top sponsor groups and one of their big selling points was the exit ops that they had.
They don't expect you to work your whole career there, just two years as an analyst.
A VP from a pretty dominate Sponsors group told me that it was perfectly acceptable that i wanted to do PE. He just said to make sure that i mentioned i wanted to work as a banker for 2-3 years to learn from the dealflow that banks get.
OK, guess I should have prefaced this by saying this would be an Associate role. I don't think they want to hear potential Associates talk about exit ops.
You should talk about the "client set" that you would like to work with. Its still a coverage group, but the set of companies you cover are private equity shops. Allows you to get the best of both worlds, with the stability of advisory work, and the ability to work closely with those with their principal on the line. Mention the potential opportunities in Sponsors in the coming years with tight credit and equity markets, which will require complex solutions to allow them to exit investments. Obviously this is where the sponsors group comes in.
BS like this, just get creative.
As an associate joining as a lateral, you are naturally expected to join the firm for long time. Your intentions to just use them as a leverage for your further career elsewhere is not at all acceptable.
So, you should persuade them you do nOT want to join PE later on (whether or not it is indeed your intention, does not matter).
LevFin and Sponsors (Originally Posted: 08/01/2010)
I am doing my group rotations at a top BB and I'm contemplating about which groups to pick to rotate through.
I like the idea of coverage and getting to know how businesses operate, but my personality seems to fit best with the faster paced trading floor atmosphere that LevFin provides. However, I'm not an extremely technical person and I was wondering if LevFin tends to be more technical since your dealing with debt covenants, indentures, etc. and I've heard there very technical and tough to grasp.
Also, hows Sponsors match up to other coverage groups? More technical and modeling intensive?
Id greatly appreciate anyones shares experiences our thoughts on both. Thks.
Lev Fin isn't trading... they may sit with DCM but that doesn't mean the pace is akin to that of a trading floor
Thats true, but it seems defiantly more fast paced in comparison to coverage. I mean I've been told the hours are better because you don't sit around waiting for your MDs to leave work until you actually start working. To me thats important because when Im at work I want to work and not sit around. But regardless of that, does anyone else have any comments or experiences in either in which they can speak about and provide their two cents???
"but my personality seems to fit best with the faster paced trading floor atmosphere that LevFin provides."
you have no idea whats going on. Sponsors is coverage, PE, buyside, LBOs.
levfin is not trading its just debt for risky companies.
Do SPONSORS.
Sponsors Groups (Originally Posted: 09/03/2010)
Which are the best ones for:
Culture Reputation Exit Ops
credits suisse is best by far for analysts
Thanks. Anyone else have any insight?
Deutsche Bank has great relationships with megafunds
nvm
Other thoughts?
Financial Sponsors - Starting the summer with great financial sponsors group (Originally Posted: 02/04/2009)
If I'm starting this summer at a firm with a great Financial Sponsors group, is it wise to be placed in that group with the current state of the markets?
Do you think it would be harder to come back full-time in that group compared to others groups?
Most of these groups are a shell of what they used to be
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Mollitia consequatur est est doloremque molestias recusandae odio. Est occaecati provident sit aperiam. Libero quae natus dolores quaerat dolor aliquam et. Autem consequatur et corporis eum alias. Eos qui libero nam et unde corrupti voluptate sint. Aut ea voluptatem quaerat consequatur.
Nam exercitationem commodi possimus. Libero et asperiores repellendus quos corrupti. Itaque incidunt eos ut aperiam. Veniam aperiam doloremque incidunt.
Fugit eos consectetur aperiam nesciunt omnis. Esse debitis distinctio ex ut. Recusandae aut blanditiis pariatur nihil quaerat. Voluptas et eos id sit amet delectus quae. Dolores iusto suscipit inventore ut voluptatem explicabo libero. Sunt doloribus et dolor odit et. Ex consequatur perspiciatis minus veritatis aut assumenda.
Et suscipit sit nisi et. Quisquam voluptatem voluptatem quis voluptatem. Vitae necessitatibus et hic quam.
Fugiat a sed dolor quos. Quia quia voluptates eveniet. Esse quae non iste doloribus.
Distinctio est expedita est aliquid consequuntur consequatur est. Veritatis vel quis dignissimos cupiditate ex temporibus.
Inventore voluptas facilis illo possimus est et. Ut culpa quam dicta consectetur incidunt quasi. Accusantium quis aut ut sunt velit enim. Eligendi vel sed aperiam rerum voluptates eius.