PCA Rankings
Saw the last post on this topic about a year ago. How does the current top of market for PCA/Secondary Advisory groups shake out?
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Following.
Some banks are ramping up (GS, MS, Roth, ...) but reality is Evercore currently have over 50% of market share and work with some very cool funds that other PCA shops just don't have a relationship with
Culture and pay are also top of the street
Not disputing any of your points but it is also an incredibly sweaty place
culture is not top of street lol... attrition is high
comp is top of street i'll give ya that
also, what do you mean by working with cool funds?
Whats the comp range?
Evercore is top, but Jeff is a strong second.
Are there league tables for pca?
Not really since every deal is private. Some firms will have press releases, especially if it's a big company (ex. LAZ / Internet Brands just announced). Typically they'll show up in Secondaries Investor. SI compiles an "annual report" but it's self reported and lots of placed don't share.
Evercore, Lazard, PJT, and (the new) Jefferies are the established players. Evercore is near the top (if not #1) in both LP-led and GP-led deals. I'd argue Lazard is close on the GP-led side but only have a very small LP-led business. Jefferies (ex-cogent) were toward the top on LP-led but not GP-led, which may be changing. PJT has historically been good but there has been a lot of turnover.
GS/CS/UBS/Blair and a few BBs have been building out their teams but it's TBD whether they gain traction.
Didn’t a group of UBS people leave to start a practice at Lincoln?
Yes. Then UBS turned around and poached a senior MD from Lazard.
I need to know where HL stands in all, not too many people mentioning it.
Up and coming newer group
Their head of secondary advisory got poached in 2020 so they are a new group
Somewhere between poop and dogshit. Done one deal in last 7 months
How big is the team?
do you see them growing at all? HL doesn't really have dogshit teams in their CF group from what I heard
How does Campbell Lutyens rank? Is comp in-line with street?
Solid shop but a half step below some of the ebs in the space
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