IB Chicago landscape for Tech or M&A

Agree. Most MMs in Chicago execute M&A through industry coverage groups. Blair is a great place for technology whereas Baird does well in industrials.

As someone stated, Chicago has a few M&A focused spots and the deals are mainly executed through coverage groups. While a few BBs have offices in Chicago they are just a satellite office that focuses on one industry or has a few MDs that want to live in the midwest. I'm more familiar with MM shops so here you go on those:

• Baird - a lot of M&A out of that office; more industrials focused
• Blair - Probably the largest MM in Chicago; they do a lot of M&A and plenty of deals in tech / tech-enabled services
• Houlihan - Pretty large office in Chi that focused on M&A but it's primarily food & bev, healthcare and industrials
• Lincoln - Mainly an M&A shop but their tech groups are primarily in SF and NY (as most will be)
• Lazard Middle Market - don't know much about their Chi office but it exists
• Piper Sandler - They have an office and a buddy of mine works their in DCM; not sure about their M&A team though
• Raymond James - they are building out an office in Chicago but it looks more focused on industrials