Just curious as to which banks have the best TMT/tech divisions or which tech focused banks like Qatalyst in terms of PE Exits and how they rank amongst each other in terms of deal flow. Any clarification is greatly appreciated.
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The classics
GS TMT
MS Menlo
SVB Leerink
Allen
Evercore
Moelis
Bro tried to sneak in Nebraska
GS / MS / Q
CS NY / LAZ / JEF / JPM / EVR / BoFA
Allen
Barclays Tech NY is supposedly very good as well
According to whom? The analyst you coffee chatted earlier today lol. Hate to be rude but come on now. Small banks like Q and LionTree do multiples in deal value per year of what Barclays TMT do and those firms often don’t even cover the full breadth of TMT.
Mull on that. These fellas be operating out of a space the size of your local dennys with 25 dudes and a coffee machine. If you’re getting beat out on a magnitude of several X, and are a multinational global bank, you have zero business calling yourself a top group. Just my 2 cents.
Worked at JPM TMT. Top TMT groups are GS/MS/Q/LionTree/Guggenheim (for M&T). JPM/EVR after but considerably behind. Rest are a joke/don't win as much.
Work at a good MM tech group so do a lot of the $1B range and - surprise surprise - we’re competing with BBs a lot.
Here’s how I’d classify.
Important caveat is this is purely from a sell-side M&A perspective. Public market and debt stuff is a different ball game that I’m not knowledgeable about. I also don’t see $50B deals so let’s consider this a $200-$5B analysis.
Top: Q/GS/MS: Would argue Q is actually far above the rest here. I’ve only seen Q on a pitch once and it was a $5B deal. You’d be shocked how often GS and MS are competing with my bank on a $400M mandate. Q just doesn’t do that.
Sort of in order but not really: Evercore, Lazard, JEF, WB, CS, RJ, HW, SVB.
Before all the Barclays/other BB kids get mad, those banks just don’t sell a lot of tech companies. They do a lot of co-advisor roles where they’re basically just there for financing, and tons of ECM. Not saying that’s better or worse, but different.
I can guarantee you will see more tech sell-sides at JEF, WB, or RayJ for most BBs. The market is run by PE firms and these MMs have great relationships.
Perella is decent
lol ur entire post history is about pwp, are you their designated wso analyst?