Hi All,
I am curious about the lifestyle, work (the bs, dislikes, etc.), comp (for all ranks), exit opportunities, recruiting for private placement groups at IB?
Also, I know that they help PE firms fundraise, but do they work on anything else? Are groups structures by asset class, industry, etc.? Anything else you think might be helpful?
I have been on the buy-side for few yrs and exploring switching to a private placement group - seems like the comp is more stable, better WLB than M&A group, and there is always money to be made as you are an intermediary.
Are you talking about the private capital group that raises funds for PE shops or private placements as in private ECM for issuers pre-IPO?
Aren't both under private placement? .... I was originally talking about the PE placements but interested in the pre-IPO capital as well.
I mean maybe? They can call it what they want, but the roles are very different. PE placements would be just finding rich people/FoF to invest in the PE funds strategy. The pre-IPO capital is working with later stage start-ups and doing equity raises, convertible notes, all sorts of structured shit. The former sounds more like a sales-ey fundraising job, while the latter, you have to understand the underlying biz, their cap stack, what investors could be interested (so yes, some sales), and then executing on the deal.
Aren't both under private placement? .... I was originally talking about the PE placements but interested in the pre-IPO capital as well.
I believe he's referring to Private Placement groups that handle private debt - most groups tie it under their capital markets advisory groups but know of a few (Evercore/Gugg/Laz) that differentiate them to be more targeted than general Lev Fin / Debt Advisory
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