JPMorgan Plans to Target Small-Company Deals as Part of M&A Push
As per the WSJ, it seems that J.P. Morgan is entering the LMM via a new “small cap” group. There midcap group has been pretty successful I would say, so interested to see how the small cap group goes. From what I understand, most small cap clients are unsophisticated and often want the touch of a small bank, but I assume it makes sense strategically given that some of the types of businesses referred to in the Wall Street Journal article already have non-IB business with Chase/JPM.
JPMorgan Plans to Target Small-Company Deals as Part of M&A Push
yeah ladies I work at JPMorgan Small Cap
Makes sense strategically, especially because of how strong the JPM commercial bank is. GS, BAML, WF all seem to be trying to do more of these small deals, especially in my sector (C&R).
Heard HL is screaming, crying, throwing up
Idk if this is RIP to the HL/HW/Baird/Blair/Lincoln/Pipers of the world or just validation of their model and proof that there is a growing market for LMM + MM deal making.
Think about this from a founders perspective - what percentage will value a dedicated sector-focused deal team at a true MM versus a global BB conglomerate that will slap together a process?
Trick question - at that level founders get logo shock and go that way
IMO likely bad for true MMs
I don’t agree. Most founders/execs in the MM have had a poor experience of some kind with a BB and/or associate them poorly. They want the hand-holding and seeming experience from an MM-dedicated firm. I don’t think this really affects them all that much tbh.
I would trust JPM over a random LMM shop, and I am pretty sure the JPM group will poach some MDs from HL/Baird/Piper that have the experience to also execute deals in a "hand-holding and seeming" way
If I’m a family business selling myself, there’s a 0% chance I trust some mega bank over a MM firm who does nothing but deal with folks like me.
Idk what a random LMM has to do with anything lmao
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