What is the difference in roles of analysts between the firm on the lead left and any other firms in the deal?
So, in terms of exit opps, how does the buyside look at experience from the perspective of leading the deal?
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First, it's called top left, not lead left.
You don't actually "do" anything if you're not a lead or book runner. So while it sounds great that you can say "My group has participated in $10 billion of equity offerings", in reality you did squat other than maintaining a copy of the updated working group list.
^^Seconded . Buyside places ZERO value on it because you don't do any analysis.
You're better off as a co-manager or right-bookrunner, so you don't have to maintain the WGL.
Agree with the comments above - you want to lead the deal as an analyst, it means you (and your team) does all the analysis and interacts with management
Can't speak for other products, but it's definitely "lead left" for Lev Loans and HY bonds
also called lead left for IGD, all equity raising at my BB. never heard of top left
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