Thoughts on Goldman Cross Markets Group

Based on the highest ranked content on WSO, the Goldman Sachs Cross Markets Group (GS CMG) has been a topic of interest due to its unique positioning within the investment banking division. Here's a breakdown of the key aspects related to deal experience, culture, and exit opportunities based on the discussions:

Deal Experience

• GS CMG focuses on M&A and LBOs for companies in the middle market (MM) to upper-middle market (UMM) space, specifically targeting deals valued between $500 million to $2 billion.
• The group works closely with MM and MF private equity firms, providing analysts with a rich experience in buy-side and sell-side deals. This hands-on experience with transactions in the MM/UMM space is highly valued and can be quite intense due to the group's active deal flow.

Culture

• The culture within GS CMG is described as being similar to that of the classic groups at Goldman Sachs, which suggests a high-performance environment with a strong emphasis on teamwork and excellence.
• Despite the demanding nature of the work, there's a sense of camaraderie among team members, which is crucial for navigating the high-pressure world of investment banking.

Exit Opportunities

• Exit opportunities for analysts in GS CMG are competitive, especially within the private equity space. While the group's focus on MM/UMM deals might not directly lead to the largest PE firms (like BX), it opens doors to a wide range of PE firms that are active in this segment.
• The early exposure to deals and the Goldman Sachs brand on the resume make analysts from this group attractive to employers, not just in private equity but also in other areas of finance that value M&A experience.

In summary, the Goldman Sachs Cross Markets Group offers a unique blend of deal experience, a high-performance culture, and solid exit opportunities, particularly for those looking to move into private equity or continue in investment banking within the MM/UMM space. The group's growth and the nature of its work have made it an attractive option for many looking to start their careers in investment banking.

Sources: GS Cross Markets vs RBC, Goldman Sachs Cross Markets Group (New IBD Group) - Analyst, MBA SA Goldman vs Evercore, Thoughts on Greenhill at the analyst level? (Exits, deal experience, comp, etc), Goldman Sachs non-TMT/FIG exits and culture