Piper Sandler Healthcare Exit Opps
As this is considered to be Piper's strongest focus, what are the exit opportunities for analysts and associates? Are they able to break into MF, UMM, GE, etc? Do all of the healthcare groups have similar exits?
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Interested as well
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Not going to get MF looks from Piper regardless of group. Most exits are to MM PE shops. While the HC group does very well (especially in the Midwest), they are just not on the same caliber as a GS, JPM, etc.
How about UMM? I saw someone go to Ares
There will always be exceptions, but generally Piper won’t place at huge funds. I know a few years ago they had HC analysts go to Kohlberg, Odyssey, etc. Great funds but not MF, so if that’s your goal I’d temper expectations.
FIG is Piper’s (well actually Sandler’s, but whatever) strongest vertical. Healthcare is their top in the Midwest for sure, but NYC it’s FIG first, HC second, then probably Chemicals (Valence).
How strong is Valence in the US vs London?
can’t speak for London but the company was all ex Bear Stearns Chemicals and Materials guys. Valence NYC was definitely a top niche industry boutique.
Do you happen to know about the cultures/hours of these NYC groups vs Minneapolis HC groups?
Know some folks at MN working in HC. Back in 2018 / 2019, knew a top analyst that was clocking regular 105 hour weeks, fully in office of course.
I caught up with another guy in 2020, and he said his only hobby was playing fortnite with the other analysts on his team in between turning comments. Knew the guy from pre-banking, and that shocked me.
I'd never recommend Piper HC in MN to a friend. They work you NYC hours but for Midwest pay and exits, plus there's nothing to do there at 3am when you're off (except fortnite apparently).
Do you have more insights into each vertical of PS FIG? I am interested in the Depository vertical and was curious about culture and exit ops. I heard they closed ≈ 65 deals in 2022.
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