Jefferies Tech vs DBO (for best buyside opportunities)

Based on the most helpful WSO content, here's the breakdown:

Jefferies Tech

• Strengths: Jefferies Tech is solid for tech-focused exits, particularly in Tech Growth Equity, Tech Corp Dev/Strat, and Tech MM/UMM PE. While not as strong as BBs, EBs, or top boutiques, it still offers surprisingly solid exits. NYC Tech has a more defined Tech M&A sub-practice compared to SF, but hours in NYC are worse due to time zone differences and a more intense culture.
• Exits: Analysts have landed roles in Tech Growth Equity, VC, and Tech-focused buyout firms. However, exits to non-tech buyside roles are also possible. The group is a good stepping stone for those coming from non-traditional backgrounds or smaller banks.

DBO Partners (Piper Sandler)

• Strengths: DBO Partners, now part of Piper Sandler, has a phenomenal reputation for tech exits. The seniors are ex-MS Tech, and analysts are often from top schools like Stanford, Penn, and Dartmouth. The Burlingame office (operating semi-independently) is the standout location for tech, as the original Piper Sandler tech team in SF is weaker.
• Exits: Historically, DBO analysts have exited to UMM/MF PE and top-tier tech-focused buyout firms like Silver Lake and Thoma Bravo. The Burlingame office is particularly strong for elite buyside opportunities.

Comparison

• Buyside Opportunities: DBO Partners (Burlingame) has a stronger track record for elite UMM/MF PE exits and top-tier tech-focused buyout firms. Jefferies Tech, while solid, is more geared toward Tech Growth Equity, Tech MM/UMM PE, and Corp Dev/Strat roles.
• Headhunter Attention: DBO Partners likely gets better looks from headhunters for elite buyside roles, especially given its alumni network and reputation in tech.

Recommendation

If your goal is to optimize for top-tier buyside opportunities, particularly in UMM/MF PE or elite tech-focused buyout firms, DBO Partners (Burlingame) is the better choice. However, if you're more interested in Tech Growth Equity or Tech Corp Dev/Strat, Jefferies Tech is a strong contender.

Sources: Jefferies Technology Group, Piper Sandler up and coming MM??, Tech Growth Equity vs Tech Leveraged Buyout Firms, Technology IB Coverage Group - Exits, Interview Preparation, etc.