Best West Coast Groups for PE Exit Opps
Hi all,
Hoping to get some input on the best west coast groups for PE. I know SF is dominated by tech banking and realize that Q/MS/GS are top, but how do these groups compare to top LA groups if set on pursuing PE?
Qatalyst is focused on career bankers, so there's that. EVR MP does pretty well and Moelis SF to some extent as well (not sure how much in comparison to its LA counterpart). BAML PA and JPM SF are split into coverage and M&A - so you def want to be in the M&A groups if you want good PE exits. PWP and CVP also seem focused on developing career bankers so unsure on their exits. BAML Sponsors is a small group in SF that has about ~15 bankers and I've heard their analysts place into UMM/MF.
I recruited SF but ultimately signed in NY, so take my input with a grain of salt since I haven't actually started FT.
This is my perspective from recruiting In LA and a ton of friends who have summered/currently work at these banks I mention: Moelis is kind of on a tier of its own in terms of placement, then below is CS, Barclays, and MS, which all place phenomenally for PE. Houlihan RX is great for people interested in the distressed space. Lazard also does well. I've also heard that GS does great but I know nothing about them so I can't fully comment.
I can definitely echo Synergy's point above about the whole SF vs. LA PE recruiting thing. The culture towards PE recruiting is a bit different in the Bay Area, and there are more kids moving into roles at tech companies, VC roles, or just straight up not recruiting. A lot of first-years I know doing banking in Menlo/SF at great TMT groups just didn't exactly find what they were looking for for whatever reason. While all of these groups are "good" per se, if you're interested in pure PE exit ops, LA beats SF hands-down. I'll put it this way - in LA, the analyst classes at those groups I mentioned are anywhere from about 4-12 bankers, and you'll see nearly 100% PE placement out of those groups, with the absolute "worst" PE firm being a MM shop (I put worst in quotations because MM PE, objectively speaking, is a 1% of the 1% type of job). Whereas in NY/SF offices that are way bigger, sure there might be 25+ analysts going to PE from each bank, but on a percentage basis it's not even close to the 100% number that LA boasts.