Mid-tier RX exits?
I was wondering if anyone could provide insight about the exits for mid-tier RX groups. For the purposes of this post, I will use restructuringinterviews(dot)com's guide which defines tiers as:
Tier 1: PJT, Evercore, Houlihan Lokey (HL), Lazard, Moelis Tier 2: Centerview, PWP, Ducera, Guggenheim, Rothschild Tier 3: Miller Buckfire, Greenhill, Piper Sandler, Jefferies Tier 4: GLC, Raymond James, PJ Solomon, Baird
So I'm looking for answers more so for Tier 2 and Tier 3
The tier 2 all exit pretty well. CVP and PWP exit the best out of them, possibly because of brand. Ducera exits well, but mainly to high quality credit shops (don’t know if that’s selection bias or what). Gug also places pretty well into credit but not sure about PE. No clue how Roth places in the US. It can get more difficult when you get to tier 3, maybe besides greenhill, but who knows what’s going on with them now.
I would say as long as your in tier 1 or 2 you’ll be solid for exits and even in tier 3 you’ll get some looks, as most of those are quality rx shops.
Also lateraling in is pretty easy, especially once it starts to pick up, since it is a small market and not many people have the training to hit the ground running as an analyst. So not a huge deal where you end up