MS M&C Exits
Just trying to get a better understanding of what exits look like for M&C.
Understand it takes a backseat to M&A, but by how much?
How is it viewed by HH's and what does the median exit look like? What MFs give looks to this group?
Not sure if you realized but no HH or MFPE is doing granular analysis on IB groups. Everyone gets the same looks unless you are in niche coverage or ECM/DCM
Bank + target school seem exclusively important to get every HH interview. Maybe a helpful add is each group has a few supportive industry connections. M&C: TPG/Carlyle, other media PE. Other groups are BX/TPG, etc.
From talking to HHs they dont care about which coverage group you are in as long as you are doing M&A. They have no issue putting you in front a HC investing seat out of M&C as long as you express interest
So is it basically just selection bias? Best candidates end up in best groups at best banks and therefore do better during on-cycle?
Or is it a case where Target School + Mid-tier group does not have HH reach out vs Target school + Top-Group does?
You will not see a difference in the looks you are given from M&A vs M&C unless you fcked up the HH chat
Yes bias since same HH opps (but school matters). Just each MF gets referrals from different groups
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