Strong LevFin group vs weaker coverage group?
I’m interning at a MM bank this summer for their LevFin group. From what I’ve heard, they’re a pretty strong debt shop with less M&A activity, so LevFin is the strongest group. But also I’ve been reading a lot about how LevFin exit opps are limited compared to M&A and coverage. My question is if a small number of M&A reps are better than a greater number of LevFin reps for PE. Also very interested in VC and growth equity. Thanks!
If anything levfin gives you greater optionality for exit opps as you become a prime candidate for private credit but this is extremely bank dependent based on what the levfin team is responsible for. Will be more difficult to exit to PE if your group doesn’t model. Otherwise will be just as good for PE/exits as any other group, but you just said you don’t care about that so not sure what you’re asking here.
That makes sense, thanks! Guess I was asking about VC and growth equity as exit opps, so I'll edit my post for clarification
Banking isn’t the best route to VC (operating a startup is) regardless of group although tech will almost always take the cake unless it’s a healthcare focused fund. In terms of GE, there probably would be less opportunity but not necessarily. I know someone who got a 1.5b+ VC fund seat after a Levfin analyst stint at a low BB.
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