Kind of curious what middle market bank has the strongest tech group. I hear that Jefferies (I realize Jefferies might not be considered a MM to some) is struggling with the new CS MDs, but how about William Blair, Baird, Piper, Raymond James, etc? It doesn't seem like there's a clear MM leader in the tech space. Just wondering what others think.
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In the tech space, BBs also compete in the MM space as GS/MS/Q scoop up much of the large-cap deals. The trailing players like JPM, Citi, BAML (although less so for JPM) would take what would be considered MM deals in other spaces, which leaves much less space for MM banks you mentioned to compete in.
Thanks for the response. I realize the BBs sometimes scoop down to take the $200M-$1B deals and what not, but not factoring them in, who are the leaders in the MM tech space?
Rankings are tough and depends on quantity vs. size but I'd say Blair -
Blair is very strong, specifically software.
FT very strong in FinTech.
Raymond James solid.
AGC solid volume.
Jefferies decent.
Harris Williams decent.
KBCM (Pac Crest) decent.
Houlihan meh.
Piper fairly weak.
Baird fairly weak.
The post above about BBs coming down is accurate. You also get EBs like Evercore around a couple hundred million.
Yeah don't know much about tech but know Piper isn't where you want to go.
Thanks for this. The alumni at my school were saying similar, with RJ and WB kind of leading the MM tech space (minus the bulges and EBs). Just wanted to verify with others though.
Yep -- I should also clarify, places like Jefferies or Harris Williams get more looks at the bigger deals and you'll have way better exits than something like AGC churning out small deals. And same thing for the BBs that do very little M&A... still a better bet than most MMs just cuz of the name.
My rankings are more in terms of actual quality and quantity of deals you will do, rather than the best places to go for a 2 year stint
Arma Partners is a franchise on the rise in the United Kingdom if you're interested in tech even though I understand you're not really into European opportunities for now !
CGA Global (AKA GCA Savvian, GCA Advisors).... HQ in Tokyo, but US operations in SF/NYC. Mostly tech IB in SF office.
Any updates on this?
I'd say Blair is still leading in MM space for tech.
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