Is SVB Leerink Becoming an EB?
I've noticed how SVB Leerink has been on a tear with healthcare and their newly-formed tech team in the past few months. They recently advised Dicerna on their $3.3b sale to Novo Nordisk on the healthcare side. On the tech side, they announced this morning that they are advising on the $5.4b sale of Quest Software to Clearlake Capital. The tech team has also recently expanded into LevFin and ECM, having just poached more MDs from Jefferies, Barclays, and the Global Head of Internet TMT at Goldman Sachs. This is all despite the fact that the tech team was launched this past September.
This makes me wonder if SVB Leerink is now, or possibly in the future, considered an Elite Boutique in the tech and/or healthcare sectors?
I don’t think two deals qualifies a firm as an EB. They are alright but have historically mostly worked on financing stuff. That being said, they are expanding but are definitely not even close to the top boutiques yet
Okay Mr.MBA
The term "EB" does not (or should not) apply to single coverage groups that are really good. I don't know anything about SVB but judging by your post they have 2 coverage groups? HC and TMT? Do they have offices in both NYC and SF? What about a media group in LA? Energy team in HOU? Industrials, Real Estate, Consumer? Are they international?
The term EB becomes useless if you use it to include every bank that is 1 elite coverage group, like Qatalyst for example. I think this forum needs a different name for these? Maybe regional EB. Because there is clearly a difference between those banks and standard EBs like PJT/EVR/LAZ/PWP and so on.
If LionTree and Qatalyst aren't EBs, SVBL definitely isn't. As others have said, to become an EB a bank needs to evolve beyond a single industry vertical.
LionTree and Qatalyst are EBs...
I think they have the potential to be an EB. Especially if single coverage group firms such as LionTree and Qatalyst are already considered to be EBs.
They already did the Clearlake’s $5.4B deal to get Quest. That’s already bigger than any MM
Yes, SVB is an EB (Erased from history Boutique)
Extinct Boutique