Hi all,
I would like to learn more about Goldman's PSI group. I saw another thread that provided a great, detailed overview of the group, so in an effort not to create a redundant thread here, I outlined my specific questions below.
I understand GS PSI is essentially a municipal financing IB group. Given the sector the group covers, I hear LBO and M&A exposure is virtually non-existent, that most deals are financing deals. Is this in fact true? Or do M&A and LBO deals still occasionally trickle down the pipeline? Just wondering.
In comparison to an industry-specific Capital Markets Group, would PSI, given that it is still an industry coverage group at GS, provide more traditional coverage banking exit opps? Or, if the industry-specific capital markets groups focuses on an industry like FIG, where GS has a very strong presence, would this lead to there subsequently being a stronger deal flow in the financing group given that its coverage counterpart is very good? (And thus perhaps a wiser choice, for the sake of deal experience, than PSI?)
I am not looking to hear stories of prestige - just some honest input on what a good path to take may be given that both groups are very different and may each lend a different set of exit opps.
Would greatly appreciate an input as soon as possible.
Thanks in advance.
Also interested in finding out more about this group
I can provide some limited insight. I've been interested in this group for a while, and met with an MD in the group at 200 west last year. From our 30 min conversation, there seemed to be very little M&A/LBO activity. The majority of their work takes the form of debt financing for public infrastructure (bridges, roads, stadiums, hospitals). Instead of working with companies, most of your clients are nonprofits/governments etc. For example, the group recently financed the 49ers' new Santa Clara stadium (~850M loan).
Point is that, from what I saw, exit opps are different from traditional coverage groups for the above mentioned reasons.
GS Public Sector & Infrastructure info? (Originally Posted: 05/25/2010)
Hi all!!
Does anyone know about GS Public Sector & Infrastructure Banking? Was doign some research on the company and stumbled upon this aspect of the company? Could an analyst job in this area be interesting? I was just looking to learn some more about this area other than what i read online/ see if anyone had worked in this area. Thanks!
It's their public finance group so if you research public finance at other banks you will learn more about what GS's group does. Basically, it is banking for state and local governments and agencies. Need to help finance a new town water park....call a BB public finance group.
Thanks for the reply! Do you happen to know about how the analyst compensation compares in this sector as opposed to others?
I don't know about the compensation, but I've heard from former SA's that the group has become a lot smaller over the years. Good culture overall though.
Thanks for the reply! Do you think it'd be worth persuing a career in this area? are there good exit opps for this sector? It seems really interesting!
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