Financial Sponsors Group Deals vs Corporate Banking
I can’t tell how my non-US bank is structured. I was hired for a summer internship and received a FT offer for the fall, but I want to better understand what trajectory I will be on if I accept.
Our group is FSG group and most of our deals involve acq finance, project finance, bridge loans, ABL, Refi’s, sprinkled in with a few DCM bond and LBO deals. I just want to see if my role is really corporate banking or if these are the kind of deals most FSG groups conduct.
In my research I can’t really wrap my head around the true distinction between DCM/Lev Fin/Corporate banking and I want to understand if my role is misbranded (really corporate banking), or this is standard FSG work. Also, product teams handle all the deal execution, so I am worried about future exits.
Hi confusedbanker0018, any of these topics helpful:
More suggestions...
If those topics were completely useless, don't blame me, blame my programmers...
hope someone sees this and can help me out!
If my understanding is correct, FSG is financial sponsors coverage, aka pitching private equity sponsors bank products and services across investment banking. CB products are your term loans, acquisition financing, RCFs.. which are a major proponent of the products your PE sponsors would be looking for based on their business activity. You'll probably see a lot of dual pitches with your CB partners and there's a lot of mixing I imagine.
Thanks so much! yes financial sponsors group. So if there is a lot of overlap, what really distinguishes FSG as an investment banking group verses it simply being an extension of the corporate bank?
The client type. Covering sponsor-backed portfolio companies versus non private equity backed companies.
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