Teams that Work Specifically with Debt

Based on the most helpful WSO content, the teams that typically handle refinancings for companies and LBO capital raises are:

• Leveraged Finance (LevFin) Teams: These teams are primarily responsible for buyside M&A financings, general structural advisory, and capital markets support work on LFO&R (Leveraged Finance Origination & Restructuring) deals. They handle terms, pricing, and other capital market roles.

• Financial Sponsors Group (FSG): In some banks, the Financial Sponsors Group may also be involved in these activities, especially when it comes to working with private equity firms.

• Capital Markets Teams: These teams support the LevFin group by handling a lot of the capital markets work, although they do not typically model or originate deals.

For example, at some banks like JPM, LevFin only works on deals introduced via another group that sourced it, while at others, LevFin teams have their own book of business and go out to win deals.

In summary, the LevFin team is typically the primary group handling refinancings and LBO capital raises, with support from capital markets teams and sometimes the Financial Sponsors Group.

Sources: https://www.wallstreetoasis.com/forum/investment-banking/from-a-levfin-banker-this-is-how-an-apollo-lbo-deal-works?customgpt=1, FROM A LEVFIN BANKER - This is how an Apollo LBO Deal works, Lev Fin Outlook & Best Groups 2020, Please Help Me Understand Corp. Finance / M&A at the Big 4, Leveraged Finance – 2017 Update