I understand many boutiques offer generalist program and analysts often cross-staffed across industrIes but was wondering where EBs’ specialities lie. Like Moelis on Gaming, Rodging, Real Estate and PJT on Telco.
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Centerview - Consumer / Healthcare
Most of the EBs have pretty strong Healthcare groups (e.g., EVR / LAZ). I'd be hard pressed to say that Centerview isn't #1 in Consumer though.
Definitely don't disagree.
Would also add that Lazard probably has the strongest FIG franchise among the EBs.
PJT owned gaming last year with Caesars/El Dorado and several MGM deals (Bellagio/BX)
I heard Moelis LA is good for media and consumer. PJT is also pretty good for RX
Heard good things about lazard and evercore, correct me if I'm wrong
Evercore, and while Jefferies likely isn't considered an EB by most, they crush it in Houston.
The strongest bank for energy is Jefferies period. Doesn't matter how you want to categorize it
lol if you don't suck Evercore's dick, the firm's interns / analysts downvote you like crazy. Great job of policing this forum guys Sorry Jefferies has a better energy practice than you
leave ubs alone bro
Healthcare would probably be CVP and then Lazard and Evercore. I don't know too much about Moelis or PJT having a huge presence in the space, but I could be wrong. Guggenheim has been fairly strong as well. Evercore probably has the highest quality biopharma ER team.
PJT was on allergan abbvie no?
Out of the NY teams, which has the strongest media team? Is it PJT? I feel like Moelis's media and entertainment is run out of LA?
gugg has strong telecom tower franchise as well as med tech
Which of the EBs has the strongest RE group? Is it PJT/Lazard?
The real estate industry (i'm leaving gaming aside) is unique in that most of the M&A activity is asset-level deals (i.e. acquiring a building or a portfolio of assets) where a financial advisor may not be needed, and there isn't as much corporate-level M&A (vs. other industries). The industry is also fairly consolidated and there aren't that many large deals (e.g. $5bn+). In terms of banking activity, there is much more capital raising than M&A.
As a result, none of the EBs are particularly "strong" in real estate because they dont have balance sheets and dont lend. The BBs like BAML, JPM, GS, MS Citi etc. are much more active and typically handle the M&A trades as well. Some EBs pop-up from time to time (e.g. Lazard on Simon/Taubman) but they aren't market leaders by any means
Can't forget about Qatalyst holding down tech M&A like the Alamo out in SF. EVR's tech group located on Sand Hill is also very strong.
Qatalyst's transactions page is like the list of marquee tech deals. Hell, I've checked their list to make sure I haven't missed anything major in transaction comps before.
Guggenheim Media is probably up there