Boutique IB capital raising
I am interested in the LMM IB firm and it says that they raise capital for these private companies. Is this common amoung LMM to MM firms?
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private cap raising is cancer avoid
how so?
Please explain. Why would this be any different from raising capital in the syndicated market at a bank? You would just be doing private placements with direct lenders/credit funds instead
No. If you are at a LMM IB and doing it, it's often for hairy, poorly managed companies where you are putting together financing (ABL, senior + sub/mezz, unitranche) to refinance, support growth, etc. or small growth equity capital raises. Unless the bank has a niche in software or some tech-related segment, it's incredibly difficult and the probability of success is much lower than M&A, particularly larger deals.
Makes sense. Do you think this experience would place better at credit funds versus doing broadly syndicated TLBs/HY bonds at a balance sheet bank? You would be getting more exposure to different types of debt tranches
Bump. Interested to hear your thoughts on exit opps vs a broadly syndicated loan team
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