Currently a student so I have very poor insight about this. Want to know what exactly is the difference between FIG v Sponsors v Lev.Fin? What type of work/clients does each of these groups deal with? Which one is the most/least technical? Thank you.
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I can only contribute a little, but FIG is a coverage group.
FIG will cover Banks, Insurance Companies, and wealth management firms, etc. The only difference between FIG and any other coverage groups is just the industry (although valuations and deal processes may be different)
Sponsors is also coverage, covering PE+ funds
My bad. Only a student. Edited
https://www.mergersandinquisitions.com/financial-sponsors-group-fsg/
https://www.mergersandinquisitions.com/financial-institutions-groups/
https://www.mergersandinquisitions.com/leveraged-finance/
Deleted
FIG = Coverage (M&A, ECM, DCM, various random financial products) of financial institutions (Fintech, commercial banks, asset managers, insurance, etc.)
Financial Sponsors = Coverage of PE funds. Try to get the bank involved in sellsides and financings of PE portfolio companies
Lev Fin = Capital markets desks focused on high yield debt (junk bonds + leveraged loans). Often involves LBOs but not always (could just be shitty companies). Role varies by bank but will always be involved with pricing and structuring new issues, driving internal credit committee and approvals, keeping tabs on market conditions.
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