Any updates on how the group is? Saw they recently hired a few MD's from PWP/Blair/Miller Buckfire, with 8 in total. Last WSO post from 2020. How does it compare to other RX practices at other MM's vs. mid-tier RX?
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Not too familiar with the group and haven't heard much from the recently, but I believe they mainly work on MM mandates and compete against MMs like Baird and Piper Sandler. Would probably still peg them behind Piper Sandler after the TRS acquisition and Jefferies, and I think Baird it too new to have an accurate comparison.
That being said, I don't think they are close to competing with the Mid-tier RX groups like PWP, GHL, Gugg, Ducera, and they don't really play in the $1B+ space like the other guys.
Got destroyed by the associate in the comments, thx
Stopping the bleeding of MS god damn
But According to Reorg, by Most Retained Advisor:
1. HL
2. PJT
3. Evercore
4. MoCo
5. PWP
6. Laz
7. Jeff
8. CVP
9. Roth
10. Ducera
By Earnings:
1. HL
2. Roth
3. Seabury
4. PJT
5. MoCo
6. EVR
7. Laz
8. Gugg
9. Jeff
10. GLC
Skip a few to 17. Where Ducera is
From Reorg's 2022 Restructuring League Tables
I think you're getting MS'ed because of some of the somewhat inaccurate descriptions. Also should note that RX league tables aren't nearly as reflective as standings because of the limited number of engagements they capture.
Greenhill's deal flow will probably be fine as long as Augustine is there - he brings in a lot of sponsor-related deal flow including portco rx and recaps that aren't necessarily reflected in league tables.
Ducera does a lot of creditor work but has also been putting in quite a lot of debtor-related work (was just on Wework), and I've heard things are busier than ever there.
Jefferies RX is very big in the UCC space (which they've been mostly happy to stay in), and also do a lot of work with the LevFin team (somewhat like the RX engagements you see at balance sheet banks)
PWP's senior team is anything but shrinking, they've poached RX seniors like crazy over the past 5 years and Bruce has led the rebuild very well. RX deal flow there hasn't slowed down and would argue that PWP doesn't even belong in the conversation with the rest of the firms you listed.
Lmao when i interviewed at RJ with the MD that was from PWP he said that his track to partner was very unlikely so he was salty and left
One of the MDs left to Ducera. Not a good sign.
Name?
Who left? Not seeing anything
Eli Silverman, he's the guy who started the Rx group at Baird with Durc Savini.
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