LO/MM in LA

Based on the most helpful WSO content, here are some insights into the Los Angeles investment banking and private equity scene:

Investment Banking in LA:

• Moelis LA: Renowned for its strong reputation on the street for exits and prestige. It's considered Moelis's strongest office.
• Houlihan Lokey (HL) LA: Known for its dominant presence in restructuring (RX) and a strong culture. Analysts from this office place well into distressed debt, credit, and private equity.
• Morgan Stanley LA: Focuses on media, consumer, and gaming sectors. While the MS brand is strong, the LA office is more oriented towards corporate development exits rather than private equity.
• Lazard LA: Specializes in aerospace M&A with a strong office presence.

Private Equity Shops in LA:

• Oaktree Capital Management
• Sweet Water Capital
• Platinum Equity
• Accel-KKR
• Valor Equity Partners
• Spectrum Equity
• Aurora Capital
• Freeman Spogli
• Marlin Equity
• Odyssey Investment Partners
• Levine Leichtman Capital Partners
• LightBay Capital
• Crescent Capital
• Fifth Wall
• Leonard Green & Partners
• Pacific Coast Capital Partners
• Story3 Capital Partners
• Tarsadia Investments
• Ares Management
• Clearlake Capital
• Yucaipa Companies
• Blackstone
• American Realty

Real Estate Development Companies in LA:

• Hines
• Related Companies

Chances of Joining a Team in LA:

Given your background in sell-side equity research (ER) and the robust presence of both investment banking and private equity firms in Los Angeles, your chances of joining a team in LA after two years in ER are quite favorable. Networking and leveraging your experience will be key to making this transition.

If you need more specific advice or have further questions, feel free to ask!

Sources: Los Angeles IB, IB in Los Angeles - banks, groups, culture?, Thread of Private Equity Shops in Los Angeles (or nearby), Los Angeles IB, 2021 SF/LA - Insight on These Offices/Locations?