Incoming at one of the stronger groups at Jeff (Tech/HC) and was wondering what exits to PE have looked like for these groups recently. I know Jefferies historically hasn't had great exit opps and gets trashed on this forum, but am curious if the last 2 years have helped with reputation on street and thus openings post ANL stint.
TIA for any info
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If you want a real answer jump over to the PE forum and ask who has actually exited from Jefferies. Asking a bunch of bankers who don't work in PE will give you anecdotal info at best.
Current/former JEF banker. TLDR, if you're in HC/Tech at JEF you will be totally fine in getting good deal reps and good exit opportunities.
HC: Healthcare is one of their best groups and dealflow is extremely strong. They do a ridiculous number of healthcare services M&A deals, and also have a very solid biotech & biopharma practice. Also, as you can see from the other healthcare IB post, their ECM practice was insane especially at the peak of the COVID bull market with a ton of IPOs and follow-on services. The group is extremely sweaty tho as a result- if you're doing a ton of deals, you're gonna get rocked, its that simple. Exits there are also very good, a handful of MFs (Ares, TPG, Carlyle) and very solid placement into UMM.
Tech: Divided between NY, CLT, and SF. NY/CLT focus on tech enabled services, and SF/NY focus on technology, with some cross-staffing. The global technology group has been doing great in the past three years with ~100Bn in deal value and 70 M&A deals with a healthy mix of sponsors and strategic M&A.
JEF SF has been killing it as of recently with a lot of deal flow in the software/hardware space and a healthy mix of M&A/ECM. That team especially has strong relationships with sponsors like Clearlake, Francisco, Thoma Bravo, and recent exits have been to Francisco, FFL, Marlin, GTCR, Clearlake, Onex, Angel Island.
JEF NY: The team works both on Tech-Enabled and pure-play Tech M&A/ECM, with a lot of sell-side exposure. The team is sweaty but the culture is solid and fratty. Exits have been good, recent analyst went to Permira.
JEF CLT (beyond having a C&R/ADG team down there) Tech-enabled services are very strong groups. ADG sent someone to Carlyle and Tech-enabled services placed their entire class into MM PE.
Incoming SA 22 at Jefferies here, how's group mobility? Is there any possibility of switching groups/offices between SA and FT?
Depends. Switching to NY from a regional group is a lot easier than switching from NY to a regional group. That being said, JEF was hiring like crazy for both NY/SF as they are expanding so quickly, and therefore if they keep pace with their growth, it shouldn't be difficult from either direction.
How are the Industrials and C&R groups?
How sweaty is tech NYC? Do they have any sort of protected weekend?
OP here, thanks for the comment. Stupid to do probably, but currently have my sights set on a specific firm. Is it impossible to exit to a MF like Bravo, or should I focus my efforts on more MM/UMM?
Certainly possible, but you’re gonna have to be a top analyst. You have to live, eat and breathe MF recruiting as it’s difficult from anywhere, even more from JEF. You gotta jump on the hairy deals, be the go-to analyst for marquee transactions and complete LBO models until you’re sick.
How are the Richmond and Boston groups?
Richmond is Transportation & Logistics, guys there are super chill.
Boston is automotive aftermarket.
Never seen a bank post more job postings than Jeff
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