Just wondering if anyone here knows much about exits for a secondaries advisory role for a bank? Is PE possible a move to a bigger bank? Bank is like Jefferies, HL etc….
Yeah, I would definitely expect more secondaries-focused exits. In my opinion, it’s definitely a good industry to get into — super high growth and interesting industry trends. EVR is the gold standard and market leader here. PJT also has a good group, and Jefferies just made a couple of big hires to build out their competency. Don’t know anything about HL.
There's a bit of nuance here. When thinking about secondaries are you interested in GP-led single asset (more like a sell-side M&A) or LP-led portfolio sales? Very different experiences and mixes across groups. EVR does lots of volume across both, LAZ is good for GP-led, Greenhill formerly ran the LP-led side. There's been a lot of recent movement so legacy history may matter less. If I were you, I would get a better understanding of the types of deals they work on, the size of these deals, and then re-evaluate.
Thank you guys very much for the helpful info. Do any of you know much about RBC’s PU&I and M&A team? I have an interview coming up with PU&I, heard some good things.
Exits mostly Secondaries / FoF related, i.e. investors, IR, but stuff like Corp Dev / MM PE is also certainly possible.
Evercore and PJT are ruling the game atm. Lazard, Jefferies, CS, and HL are all good groups, but quite far behind.
All in all a really great option to have and, for many people, arguably more attractive from a WLB/Comp. standpoint than 95% of the exits ops this forum keeps talking about
I personally can't stand some of the Lazard Secondary Advisory staff - super rude and annoying. Evercore took up the helm after Greenhill imploded. Jefferies will be competition for them soon once they staff up.
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I hope those threads give you a bit more insight.
Yeah, I would definitely expect more secondaries-focused exits. In my opinion, it’s definitely a good industry to get into — super high growth and interesting industry trends. EVR is the gold standard and market leader here. PJT also has a good group, and Jefferies just made a couple of big hires to build out their competency. Don’t know anything about HL.
There's a bit of nuance here. When thinking about secondaries are you interested in GP-led single asset (more like a sell-side M&A) or LP-led portfolio sales? Very different experiences and mixes across groups. EVR does lots of volume across both, LAZ is good for GP-led, Greenhill formerly ran the LP-led side. There's been a lot of recent movement so legacy history may matter less. If I were you, I would get a better understanding of the types of deals they work on, the size of these deals, and then re-evaluate.
Thank you guys very much for the helpful info. Do any of you know much about RBC’s PU&I and M&A team? I have an interview coming up with PU&I, heard some good things.
Exits mostly Secondaries / FoF related, i.e. investors, IR, but stuff like Corp Dev / MM PE is also certainly possible.
Evercore and PJT are ruling the game atm. Lazard, Jefferies, CS, and HL are all good groups, but quite far behind.
All in all a really great option to have and, for many people, arguably more attractive from a WLB/Comp. standpoint than 95% of the exits ops this forum keeps talking about
I personally can't stand some of the Lazard Secondary Advisory staff - super rude and annoying. Evercore took up the helm after Greenhill imploded. Jefferies will be competition for them soon once they staff up.
do you think Jefferies PCA will become stronger than Lazard PCA if not already?
know they hired a bunch of Greenhill guys and a few ex Lazard guys
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Sed ut rerum quos rerum deserunt ea est. Qui eum architecto eaque laudantium voluptate atque. Quia et fuga eos quibusdam ab. Provident totam corrupti accusantium. Tempore necessitatibus occaecati natus quia aut.
Et sit provident nisi commodi. Aut voluptatem eos necessitatibus maxime pariatur voluptas. Aut non ipsam tenetur veritatis aut fugiat reprehenderit. Quia illo nihil quod rerum ab facere.
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