Restructuring Exits?
Anyone know what RX exits are like at EVR/LAZ/HL/PJT. Is getting non-distressed buyside at a UMM/MF or HF impossible from these groups?
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theres been so many threads about this, pls use search function
I searched extensively but didn’t find anything really recent/relevant.
% of analyst going to UMM/MF from PJT/HL/EVR/ LAZ RX is probably the highest among all other groups
Classes are very small and in my experience, most analysts at those groups have been interested in investing for a long time
Huh really. Honestly, this is somewhat what I hoped for considering small class sizes and how dedicated you have to be to go into RX. Would assume only a very few banks/groups would place better. GS TMT, EVR M&A, PJT M&A, MS M&A etc.
I mean depends what you mean by place better. I strongly doubt that EVR and PJT M&A place better than PJT/HL/EVR RX on a % basis. EVR M&A class is 2X PJT/HL/EVR RX combined so ofc you'll see a lot of MF exits.
Groups you mentioned are some of the hardest to break into, they're not gonna suddenly become weak buyside candidates. Odds are they will look at the distressed opps more frequently but those who don't have no issue going buyout or whatever else. Just check LinkedIn and remember the tiny class sizes
Thanks for the advice. Checking LinkedIn is kinda difficult though because small class sizes and hard to narrow down RX but I do agree with your general take. Thanks!
Yea I mean what I'd do is look at associates - principals at firms youd wanna exit to and see what their background is
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Just top tiers
PJT RSSG freely advertises and tracks analyst exits.
-2020: Centerbridge 2x, Blackstone PE, Apollo PE, KKR SSG, Anchorage, Oaktree, BX GSO
-2019: Apollo PE, H&F, Blackstone PE, York, Anchorage, Sycamore PE, BDT
Also, RX to buy-side could be easier since its more niche so easier to move around? Not sure though.
Somewhat off-topic, but how highly viewed is the Sycamore job? Seems like an interesting fund but haven’t read much on them
Link to other thread; take a look at how many non-distressed opps are available from PJT RSSG.
https://www.wallstreetoasis.com/forums/pjt-rssg-all-exits-schools
bump, how hard to get to traditional MF PE? i dont want to do credit
Multiple kids from each of those 4 groups get MF PE each year. PJT sends kids to wherever their heart desires, as you probably know. In the class that finished in 2021, iirc, EVR sent a couple to Apollo/KKR, maybe a couple others. HL sent to Apollo and Carlyle I believe, maybe KKR as well. Laz sent to KKR and Permira.
Don't think this is true for EVR or HL
Thanks. Were all KKRs, buyout as opposed to special sits, etc.
I know 100% that for EVR and LAZ, it was a buyout exit (at least one at EVR, maybe more). I believe also buyout for HL, at least one of them, but not sure about that again.
This also isn't accurate for EVR or HL - don't know about Laz
If it was not accurate what is?
What were HL, EVR, and Laz exits? What do I need to tell headhunters to show me traditional MF buyout opps as opposed to trying to put me in credit/special sits?
PJT, MOE, PWP send kids from their RX to MFPE easily.
Had a first round with Laz RX for lateral but didn’t progress fml. Highly technical especially if you don’t click w interviewer, or at least less forgiving
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