Top RX Groups in 2025?
Any insights on top groups in RX banking as of now? I assume PJT, HL RX are top but not sure how are other groups comparatively.
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Something like this:
Splitting hairs at this point but I would put EVR, MOE, and HL in the same bucket nowadays (HL has been underperforming).
PJT as clear winner, undetermined between EVR and MOE, then HL (legacy / still doing some stuff), then the rest I roughly agree with.
PWP Rx is on an absolute tear right now, and should probably be in Tier 2 with MOE and HL, while PJT is Tier 1a and EVR 1b. Also not sure about GUGG being better than CVP and DUC but not as well versed with them.
Spirit, FTX, Ligado, Wolfspeed to name a few debtor sides recently…
And to echo the below, exits from what I hear have been on upward trend.
LAZ is quite bad these days. Would put them in 4. HL should be 2.
Not at LAZ but that's very false. They aren't the first call like it's 2006 but they have won a lot of good stuff recently (though are definitely not above some small / crap creditor mandates now). Feels like they're over the post-Kurtz / Snellenberger hangover
How is GUGG RX considered? Saw them on a couple of good debtor mandates recently (Rite Aid, Lumen, Mallinckrodt), but how does it compare to other groups?
theyre growing quite well and id argue are most similar to PWP post ducera exit(having to prove themselves and getting good debtor mandates. Things have slowed down a bit in 2025 besides the rite aid ch 22 even w increase in bks in 2025 but remains to be seen, very similar to pwp deal flow. I'd say gugg/pwp are attractive places to be on their tier if wanting longer term career in rx and the only pro laz has to it is legacy/exits
This IMO. Purely on basis of the quality of their RX teams, PWP and GUGG are better than LAZ. LAZ still has an edge on exits (though honestly that might be due to self-selection), but in terms of overall trajectory PWP/GUGG are the safer bet if you want to do RX. Just look at the mandates LAZ has been on in the last ~2 years vs the other firms...
lmao every time there's a rx post the forum blows up.
LAZ RX is ass nowadays, they only do second tier creditor mandates
Again not at LAZ but Altice France (Co), Dish DBS (AHG), GCEH (Co), Anastasia Beverly Hills (Co), SITEL (AHG), Michaels (AHG), Enviva (Co), Saks (AHG)
Those are some recent highlights and there are some lowlights for sure, but you obviously don't have a Reorg account
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