Hi everyone,
I have a SA offer at a BB (JPM/MS) and was just wondering what groups are best for PE exits. Is it the traditional LevFin/M&A, or perhaps there is no difference between them and the coverage groups. I know modeling isn't done much in some LevFin groups, so curious what your thoughts are on this. I know I definitely want to aim for MF for recruiting (assuming I get FT offer).
Your comments/inputs are much appreciated!
Depends on the bank, depends on the group. For example, JPM Healthcare is unmatched.
Thanks for the reply! Can you speak of other groups at JPM and MS?
Take MS M&A for sure, MS IBD >>JPM IBD
M&A is best for exit ops, followed by industry groups like tech/TMT
After that possibly LevFin and maybe a few other industry groups
Source: MF PE
Thanks, Grylls! Would TMT be the second group after M&A in both banks? I have heard that JPM's TMT group has not as much deal flow....
Both JPM and MS M&A are great groups for exits. MS M&A is widely considered to be one of the best groups on the street for PE exits, and while JPM M&A is a relatively small group they do very well. Other considerations at MS for exits might be Media & Comm, Consumer & Retail or Financial Sponsors, in that order. Other considerations at JPM for exits might be Healthcare, Financial Sponsors or Media & Comm (recently split), in that order.
Your first choice should be M&A at either bank, and the groups listed above. LevFin does not place very much into PE, let alone MF PE, and so shouldn't be a consideration if you can avoid it
Thanks for the input, Kazimierz! I am curious why LevFin doesn't place much into PE, when traditionally it seems that work in LevFin is most directly related to PE (understanding debt, working on LBOS, etc.)?
JPM FIG recruits heavily at my school as well. What are your thoughts on this group?
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