Gugg TMT London
Any insights on Gugg London vs other MM banks in TMT / digital infra in terms of exits, dealflow and culture?
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Guggenheim's TMT team in London is relatively new and still building out its presence. They have been actively recruiting for roles like VP, Associate, and Analyst, which indicates growth ambitions despite the challenging market conditions in the TMT sector. However, compared to other middle-market (MM) banks, Guggenheim's platform in London is still in its early stages and lacks the established deal flow and reputation of more mature MM players.
Key Points:
Exits: Guggenheim historically has not had the strongest exits to mega-funds (MFs) or upper middle-market (UMM) private equity firms, especially in comparison to more established MM banks. However, analysts have successfully lateraled to elite boutiques like Lazard, Evercore, Moelis, and Centerview, which could be a stepping stone for better exits in the future.
Deal Flow: Guggenheim is growing its deal flow but is not yet on par with more established MM banks. The TMT sector, particularly in London, is still developing, and the bank is working to gain market share. This could mean fewer large-scale deals compared to competitors.
Culture: Guggenheim's culture is heavily group-dependent. While the bank is known for providing strong technical experience, the workload and hours can vary significantly by team. The London TMT team’s culture is still evolving as the group grows, but the firm overall has a reputation for being demanding.
If you're comparing Guggenheim London to other MM banks in TMT or digital infrastructure, consider the following: - Established MM banks may offer more consistent deal flow and better exits due to their longer-standing presence in the market. - Guggenheim could provide a unique opportunity to be part of a growing platform, which might offer more responsibility and exposure early on.
Ultimately, your decision should weigh the growth potential of Guggenheim's London TMT team against the stability and reputation of other MM banks in the same space.
Sources: Guggenheim Partners Investment Banking, Lincoln International 2021 thoughts?, Barclays vs Guggenheim IBD (New York), Thoughts on Barclays in 2020, Lazard vs Moelis Chicago Offices
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