Nomura Greentech vs. HL RX – Save the Planet or Liquidate It?

Deciding between Nomura Greentech and HL RX (P&U) and could use some quick input since my offer expires soon.

Greentech is power/renewables and at this point is basically an EB in the renewables space. You're working on real energy transition deals and stuff that's actually getting built and financed.

HL RX P&U obviously has a strong reputation, but it also feels like a lot of glorified MM RX. A ton of credit docs, court filings, and cleaning up companies that already blew up. Good reps, but you're not really at the forefront of anything growth-oriented.

Most of my friends in the industry are telling me Greentech is the move, especially if I'm interested in infra/growth long term and working with founder-owned founder-led businesses. Offer expires soon so would appreciate any honest thoughts.

7 Comments
 

I work in the space (project finance at a top bank). Nomura Greentech is the better choice between the two. They’re one of the top 3 specialist renewable boutiques alongside Marathon and CRC-IB. They only do M&A (is my understanding) as Nomura has a separate IPF team, which means you’ll get a ton of M&A experience. You can go wherever you want after that.

 

HL RX is one of the best groups in the street in terms of exits and deal experience. The most common exit from Nomura Greentech is to lateral to another bank (just look up previous analyst classes). I think as someone just out of college, it is important to maintain optionality as nobody can actually know what they want to do as a sophmore in college with no direct work experience.

 

Look, you can’t go wrong either way. They are both strong choices in their respective areas. 

You’re probably better off basing your decision on what you would rather do as M&A is somewhat different from RX and they set you up for slightly different exits/careers. I think you have the right idea that Nomura Greentech is likely more dynamic, although if you enjoy detailed analysis / very technical and structured modeling HL’s RX P&U group may be more interesting.

 

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