Guggenheim SF TMT vs Houlihan Lokey SF Tech M&A

Between Guggenheim Palo Alto TMT and Houlihan Lokey SF Tech M&A, which is more well regarded. I know Gugg is much newer and smaller (~9) but has worked on some large deals. For SA 2023

 

Which Guggenheim office are you talking about. Last time I checked, Guggenheim SF wasn't really a TMT office, but rather was much more focused on cleantech. Unique deals if you're interested in that, but they aren't super strong in the space.

HL SF has been traditionally pretty weak, but they acquired GCA, which was a solid LMM-MM boutique with great guys and culture. As I understand, dealflow has picked up quite a bit in the SF office post-GCA acquisition, but the deals tend to be very LMM-MM oriented, which is where GCA's strengths are. GCA's culture was amazing, I had several friends at the bank and they all loved it, but I'm not sure if HL's culture or GCA's culture has won out after the acquisition.

 

Guggenheim opened a Tech-focused office in Menlo Park last year (not SF), which is what I’m assuming the OP is talking about. If that’s the case, I’d take Gugg even though it’s newer

 

If you're talking about the SF Tech team (cleantech), I can't think of any major M&A activity off the top of my head. Know that they do a fair share of capital raises though.

The Palo Alto TMT team (software-oriented) was recently on the KKR/Barracuda deal.

 

I would go Gugg. I had an offer from HL sf and even after the GCA acquisition they are still mainly working in LMM and some MM deals. The GCA team was bigger than the HL team, so although deal flow is up, it is a lot of LMM deals from the GCA MDs. Even though gugg SF isn't the strongest, I think that it will still position you better for buyside and lateral recruiting if that is what you want. And if you mean Gugg Palo Alto, then I would definitely go with that.

 

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