JPM Tax Oriented Investments Group
Can anyone share some insights about this group? Is this JPM's merchant bank division? And how does the interview process look like?
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The Renewable Energy Tax Equity team is top-notch. One small piece of info I can give is that the two main groups sitting in TOI (renewable and LIHTC) didn't appear to be very related to each other besides sitting under the same umbrella (I don't think the renewables team even sat on the same floor as the LIHTC but I could be wrong.)
Thanks for the info. Any idea how the interviews will look like?
No, sorry
Bump
Pay is weak. Guys don’t stay long and are always looking to lateral out
Can you share some details about what exactly they do? Sounds like principal investing based on description but not too sure
My group used to do Tax Investing but my bank became afraid of being labeled as a bank that tried to avoid taxes, and ultimately scrapped that business. Those deals tend to have long maturities and are generating pretty substantial fees for the bank til this day..
The purpose of tax investing for banks is to invest in projects that produce tax credits. These projects usually have net losses, but the tax credits make it worthwhile to invest in. These transactions are extremely complicated, think 1 transaction can take around a whole year to structure. You need a lot of legal and tax due diligence, as well as understanding the projects, and most importantly how and if the projects will comply with government guidelines that will generate tax credits. The fees made from these deals are also fantastic. You get to learn a lot about the transaction you'll be assigned to because of their complexity. I can imagine if you're not passionate about the project in question, legal and tax due diligence, chances are you'll be bored out of your mind.
Some types of Tax Investing deals include low income housing, green loans, and other types of projects.
Incredibly helpful explanation..Thank you kind sir +1 SB
Could I PM you?
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