gs tmt vs ms menlo - m&a?

imagine qatalyst dominates m&a space, but is gs sf and ms menlo comparable for m&a? any trends? know grimes has left to government in menlo so imagine that's a big hit to the office, so wondering how the office compares. really seem like those three are the biggest players in tech m&a in the bay.

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When comparing GS TMT (San Francisco) and MS Menlo Park for M&A, both are highly regarded players in the tech M&A space, but there are some nuances to consider:

  1. Qatalyst's Dominance in M&A: You're correct that Qatalyst is a powerhouse in tech M&A, particularly for sell-side advisory. Their lean teams, high comp, and focus on significant transactions make them a standout. However, GS TMT and MS Menlo are still very competitive and often handle some of the largest and most complex deals in the space.

  2. GS TMT (San Francisco): GS TMT is known for its strong M&A presence, particularly in the Bay Area. They consistently work on high-profile deals and have a strong reputation for both M&A and IPO advisory. GS TMT analysts often have excellent exit opportunities into tech-focused PE, VC, and growth equity roles.

  3. MS Menlo Park: Historically, MS Menlo has been a leader in tech IPOs and M&A, with Michael Grimes playing a pivotal role in its success. However, as you mentioned, Grimes' departure to government could impact the group. That said, MS Menlo still has a strong brand and deal flow, particularly in IPOs and large-cap tech M&A.

  4. Trends and Comparisons:

    • M&A Focus: GS TMT and MS Menlo are both strong in M&A, but GS TMT might have a slight edge in terms of deal volume and diversity, especially with Grimes no longer at MS Menlo.
    • IPO vs. M&A: MS Menlo has historically been more IPO-focused, while GS TMT has a more balanced mix of IPOs and M&A.
    • Exits: Both groups offer top-tier exits, but GS TMT analysts might have broader options given their exposure to a wider range of deal types.
  5. Conclusion: While Qatalyst remains a dominant force in tech M&A, GS TMT and MS Menlo are still highly competitive. The departure of Grimes could shift the dynamics slightly, potentially giving GS TMT an edge in M&A. However, both groups remain excellent choices for anyone looking to build a career in tech investment banking or transition to the buyside.

    Sources: How are the TMT groups at “lesser” BBs?, Qatalyst Partners, , GS COO of M&A Leaves for PWP, Full-time: Goldman (NY Classic - not TMT/FIG) vs. Morgan Stanley Tech (Menlo Park) vs. Evercore M&A (NY)

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