Outlook for HL RX
2021 was a relatively slow year for RX and I’m wondering about HL RX’s outlook & also RX in general (given the global economic recovery but inevitably hawkish monetary policy)
i feel like the RX space is becoming more crowded (e.g. EVR MOE LAZ PJT + many other solid firms) - was speaking to an MD and he mentioned that apparently two decades ago there weren’t as many players competing in the RX space
saw a few similar posts and thought I’d throw this one out there
also interested
Two decades ago there weren't as many players competing in the traditional IBD space either. Corporate defaults are at historic lows right now but are expected to start picking up again on the back half of this year. Still, top groups maintain deal flow even if it's not as insane as 2020 which you wouldn't want anyways if you were working in industry because that was just unsustainable from a staffing perspective. Top RX groups will always have deal flow.
that’s a good point, advisory has grown significantly over the last 2 decades
i think also in europe/uk the legal system is evolving to become more similar to a “Chapter 11 lite” framework - thus opening the doors to a lot more complex rx situations and potentially DIP financing down the line
any insights on how the different rx shops will grow in next 2-5 years? PJT seems to be becoming lot stronger since it’s BX days
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