MM Avg. Deal Size

The MM name really is a poor classification and I think confuses undergrads especially some of the players that were branded MM decades ago, but have crept up over the last decade as valuations increased. Where it might have been true some of the MM’s were selling 200-400m businesses a decade ago, now businesses that would have been worth that back then are in the billion dollar range. The reality is EB’s and the top MM banks overlap pretty drastically and even BB’s at this point have pretty built out MM practices. Put another way, if you are trying to sell a $800m tech company, evercore, Goldman, Blair, Jefferies, and Raymond James all make sense and have likely sold similar businesses. Really the EB name is something used just on this forum, and EB and MM investment banks serve pretty identical functions barring some of the EB’s that have ex-BB MD’s who bring in $8B+ mandates, but that’s not the majority of MD’s or the majority of deals anywhere.