DB groups experience?

Based on the most helpful WSO content, here's what you need to know about Deutsche Bank (DB) groups, particularly LevFin, Sponsors, and others:

LevFin at DB

• Deal Flow: DB's LevFin team is known for holding the pen on the debt repayment model, which provides solid technical exposure. However, in London, they don't have an established Financial Sponsors Group (FSG), so LevFin often takes on modeling responsibilities. In NYC, the group is strong and focuses on leveraged loans and high-yield bonds, with a decent volume of refinancing and acquisition financing deals.
• Exits: Historically, exits from DB LevFin lean more towards credit-focused roles rather than buyout-focused private equity (PE). While there have been some notable exits, mega-fund (MF) buyout exits are less common compared to other top-tier banks.

Sponsors at DB

• Deal Flow: The Sponsors group at DB works on sponsor-backed transactions, including leveraged buyouts (LBOs), refinancings, and dividend recapitalizations. This group is highly active and provides exposure to private equity clients.
• Exits: Sponsors groups generally have better PE placement compared to LevFin. However, at DB, the lack of a fully established Sponsors team in some regions (e.g., London) may limit opportunities. In NYC, the group is stronger and offers better exit options into buyout-focused PE roles.

Other Groups to Consider

• Industrials: This group can offer strong deal flow, especially in sectors like manufacturing, transportation, and chemicals. Industrials teams often provide a well-rounded skill set, including M&A and capital markets exposure, which can lead to diverse exit opportunities.
• FIG (Financial Institutions Group): FIG is highly specialized and focuses on banks, insurance companies, and asset managers. While the technical modeling in FIG is complex and valuable, exits are often more niche, leaning towards FIG-focused PE or corporate development roles within financial institutions.

Optimizing for Deal Flow and Exits

If your primary goal is to maximize deal flow and exit opportunities: 1. LevFin and Sponsors: These are your best bets at DB, with Sponsors offering slightly better PE exits. 2. Industrials: A solid choice for broad exposure and diverse exits. 3. FIG: Consider this only if you're interested in financial institutions and are okay with more specialized exits.

Let me know if you'd like further insights!

Sources: Leveraged Finance Exit Opportunities, Lev Fin Outlook & Best Groups 2020, What Field Are You And in What Broad Region?, Joining LevFin and FSG at this point in the cycle