Restructuring market
I work in the DACH region and used to mainly do DDs but the transaction market is super weak. can anyone in restructuring provide some insights on their situation? A friend who works there said that they are also not very well utilised which seems surprising to me.
It depends on the shop, I can tell you deal flow at A&M, AP and FTI is excellent. There are a handful of elite boutiques that pay about the same whom are also doing quite well, though in different areas of the mandate stack. Debtor is pretty hot.
Fields like energy are so full of cash and government taxpayer money that there’s very little deal flow. Fields like healthcare and retail are pretty solid right now.
everyone is bracing for a storm, I am at one of the elite boutiques and our pipeline is insane for the rest of the year, like we need butts in seats. We also do some opportunistic credit stuff and it’s also been very exciting. Q1 was pretty quiet. Q2/3 are looking amazing based on our committed pipeline and there’s a lot of optimism around the next 3-5 years.
If you have friends who aren’t being well utilized, then they should pound some pavement because recruiting is absurd right now. It’s very competitive due to the high pay. We have so many ex-IB applicants, but they haven’t been doing so well on the technicals so other backgrounds (esp directly related to the waterfall) are still in demand.
You open to PM?
I would not have found restructuring without WSO and I will pay that forward.
Feel free - have had a few and will respond to all.
Just PM'd you as well, thank you!
Moving this weekend, I will get back to you and the other folks in my inbox once we’re done!
any names you'd recommend that arent AP/A&M/FTI or Big 4 that focus on debtor side restructuring as opposed to administration / insolvency / creditor side IBRs etc? UK Market used to have THM but they got bought out by AP....i know there is Ankura but got the impression that its not a particularly great outfit. thanks!
Can speak to the UK, but in the States, Ankura is definitely a respectable RX shop. Competes with the likes of BRG
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