Hey everyone,
Had a quick question. Out of BAML, Jefferies, and Lazard in their Houston offices, who is the best in terms of exit opportunities into PE? I appreciate any help!
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Do not go to Lazard. I'd say the edge goes to BAML, although Jefferies is very strong as well.
i've seen a lot of guys in energy PE out of BAML
that's because baml acquired entergy koch which was koch ist before there was koch ist. those days are over i think though so i'm not sure that trend of baml -> energy pe is going to continue for the new guys. but maybe, i dont really know what im talking about
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Jefferies is strong in upstream but that will only hold as long as Eads is around (and/or Aubrey is calling the shots at CHK)... rest of their groups are irrelevant.
Laz...gets a bad rap on here...maybe deserved...but at the analyst level the name is strong nationally and at least they are doing something to attempt to bolster the deal flow. Assume they get paid pretty well despite not exactly being a rainmaker office.
Thanks for the awesome input guys, really helpful. I heard that Lazard has a pretty big office (getting close to 30 people) and they're trying to grow. Is this helping them at all? Also, heard that Jefferies has placed analysts at megafunds as of late. Any insight on either?
Also, does anyone know about RBC or BMO in Houston? I know they're not very big, but any insight regarding their deal flow or analyst placement into PE/HF would be great. Thanks in advance!
They've both gotten on some good-sized deals. BMO seems to do a lot of capital markets work, and looks like Canada is pulling in the bigger deals--Cnooc/Nexen, Progress/Petronas.
Know of a few BMO-ites that jumped to other banks and RBC-er that got into a small PE fund. Not too strong for the buyside.
What about Scotia Waterous? How is it compared to RBC and BMO in Houston?
In the energy league tables for the first half of 2012, the canadian banks did very well. Are the deals mostly done in Canada or Houston?
bump
Laz has placed all 5 of its analysts from its last 2 classes - First Reserve, Lime Rock, EnCap, Lime Rock, and Brazos
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