Does LevFin Pigeonhole you to Private Credit?
I'm going through group placements for my BB summer analyst position, and my school has a strong alumni network in the LevFin group, and after networking it seems quite likely that I can get placement in that group. I've seen mixed results on this site and am basically wondering if LF limits exit opportunities to private credit or credit related roles, or would an exit to UMM/MF PE still be a possibility out of LF nowadays? I've read a lot about what private credit and other credit roles do and honestly that just doesn't seem like a path I want to pursue at all after banking and I would like to pursue PE instead. I know this is probably very BB specific, but would placing in the LF group limit my exit opportunities to credit related roles and should I aim for M&A instead (Even though M&A is not considered stronger than LF group at this bank by WSO standards)? For context, the LF group at this BB is not considered one of the best (not JPM/BAML tier) and I would prefer a product group over coverage.
Any advice is much appreciated!
So off the context you’ve given it has to be either Citi, CS, Barclays, UBS, or DB
If it’s CS or UBS, I would definitely take LevFin since its one of the better groups at one of those banks.
Barclays I’m not sure but the benefit of their coverage groups is they all do in house M&A so would consider a coverage group there.
Citi I believe has stronger product groups than coverage groups but not 100% sure.
DB has a solid LF group from my understanding
Actually after rereading I don’t think it’s Barclays (since they don’t have an M&A group) or Citi (since their M&A group is a top group there).
Meaning you are likely between CS, UBS, and DB.
If you are truly interested in M&A then go for M&A but if you are at a bank where LF does execution (which CS & UBS do; not 100% sure about DB) then you shouldn’t get pigeonholed
Lev Fin opens the door for PE
bump
Weak levfin groups tend to send a lot of kids to private credit, but strong groups send kids everywhere. If you are modeling and working on sponsor transactions, you're almost as desirable as an M&A analyst. You'll likely close multiple deals, work on LBO modeling, and be exposed to sponsor thought process. Levfin can be great or mediocre, but for the most part it will always have PE exits.
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