Best LevFin groups for sponsor deals?
Anyone have any insight on which LevFin groups are best for working on mostly sponsor/PE deals?
At a BB LevFin group that does a lot of boring refi’s etc & would like to think about switching it up for some more hairy special sits / single B LevFin deals if I can.
Also I have to assume that working on these single B sponsor deals opens up better or more flexible PE exits? Because I’m working on a lot of refi’s / staple financing, I worry my exits become more & more pigeon holed into credit funds.
Does your bank not have a Financial Sponsors Group???????
Yes but unfortunately they don’t hold the pen on any model & are mainly pitching. Not a very good FSG compared to others.
I’m more so looking for a FSG or LevFin group that covers all the bases if that exists
Gotcha, well CS, BAML, JPM, and Citi all do the execution on deals from my understanding. Each have great exits from FSG, and decent cultures.
Jeffries does a lot of sketchy deals.They have a higher cost of capital than banks with large balance sheets so they go after the really high fee transactions. They also have different control policies due to their size relative to BB banks. GS obviously does a big business too (besides some of the names mentioned).
Interesting thanks. Saw JEF at the top of the LBO single B financing league tables for 2021 - likely a product of this dynamic
Cs, baml, jpm (in no particular order)
CS, JEF, BofA all hold the pen in thier models. JEF, as noted above, gets into some hairy deals, but the credit learning experience from any of these three will be top notch.
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