Curious to know how well LevFin at a top BB places into PE. It's a group I'm interested in possibly trying to move into so I want to get a better understanding of exits. I see a lot of people going into private debt following their LevFin stints but not so much PE (maybe I'm mistaken).
Quite short, are LevFin analysts trying to recruit for PE roles at a disadvantage vis-a-vis their M&A counterparts? If so, how hard is it to do (E.G MF PE)?
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If you’re doing Levfin at BAML/CS or maybe a couple others, you’ll be a very attractive candidate for most PE shops.
If you’re doing Levfin at GS, JP, or most other American banks, you’re at a pretty big disadvantage
Why would you say levfin @ GS / JP is at a disadvantage? Last year two people from GS levfin placed into MFs
Was this into the MFs PE divisions? Because they have credit divisions too
The skillset you get in levfin varies drastically by bank
CS and BAML do origination, structuring, and execution. These groups run the models and often carry most of the workload internally when working with coverage groups. Levfin analysts in these groups have to wear a lot of hats and develop broad skill sets and exposure that help with PE recruiting
JP/GS levfin are much more execution focused. Analysts rarely model and are usually just tagged in late on a deal that M&A or coverage sourced. M&A / coverage at these banks will do the majority of the work that develops a skillset seen as “attractive” for PE.
My best friend is in JP/GS levfin, so I’m just passing along info
Into the PE divisions of the MFs? Or credit?
Bump.
Currently a LevFin analyst at a top BB (JP/GS/MS) and am interested in recruiting for MF PE. I've checked the websites of most of the top funds and almost none of the investment professionals come from LevFin. Wanna know if this is due LevFin people generally being more interested in DL/PC or because PE funds place a discount on LevFin analysts? If the latter, would it be worth trying to rotate into an M&A/Coverage team at my bank?
Do you know anything about historical exits from your group?
Not really - joined very recently and don't wanna give an impression that I'm eager to leave for PE
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