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diameter and lindsay goldberg are 2 that i know off the top of my head
following
know they had one exit to oaktree ss
2 Carlyle, 1 Oaktree, and 1 Brookfield recently.
were the carlyle and oaktree to PE?
One of the Carlyle one is Credit, not sure the other.
The Oaktree is Special Sits.
Less recent but still potentially a maybe recent (like 5 years ago) but I think an analyst there (who I assumed did RX) went to Avenue after PWP. Hopefully this helps even a small bit
Solid
How large is the class?
M&A is about 15-20 from what I’ve heard from friends, so I’d guess Rx is 5-10 if it is a separate process. Just an opinion, no idea.
Intern class is 20 - generalist. There are usually 16/18 in M&A and 2/4 in RX as a first year.
FWIW PWP RX has been killing it this COVID 19 cycle. Pulled a lot of mandates from the bigger shops (HL / PJT / Laz) and is more on par with EVR RX at this point
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obviously pwp has pitched some of the same mandates as the other rx groups, but it seems like groups like evercore can be more selective in going after the ones that are higher-profile and generate larger fees. evercore was on 9 of the 15 largest bankruptcies by liabilities including serta, noble, windstream, avianca, mcdermott, sable, frontier, ep and murray energy. not sure i've seen perella on as many of these large-cap bankruptcies (maybe california resources or garrett motion?).
Per Debtwire, Since Jan 1 2020 PWP has been on 24 cases (worth $57.5bn) and EVR has been on 29 cases (worth $70.4bn). Laz has been on 24 cases (worth $55.9bn). PJT is at 34 cases and $93.1bn. Overall on league table looks like PJT > EVR > Laz = PWP. This excludes HL because they are obv #1 for size
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PWP does non-energy too. They were on Windstream, Sears, Garrett Motion, Puerto Rico, the Treasury Assignment, iHeart. They also do special situations and were on WeWork, Royal Carribean, Del Monte. They might not be top of the street, but they are a solid team and should be passed off as just being an energy RX shop.
Half their group exited through the front door of the building and started ducera a few years ago.
If you want to get fucked to the power of 10 then go into RX… fucking longest deals ever with so much shit being asked by so many parties..
Why do you say this? What do different sides ask for?
ENDLESS amounts of modeling different possible scenarios / outcomes regardless of how unrealistic they are
And that’s just from the client
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