Tudor Pickering & Holt Houston 2022
Looking for more insight on deal flow, culture, and exit opportunities. Thank you in advance!
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Top shop in Houston
TPH is the top NRG shop in Houston alongside Jefferies and Evercore. Those three are far better than the rest - I think CS Houston pails in comparison to most other shops. Seems TPH is doing well post-buyout by PWP, conducting a lot of M&A in the upstream space (several deals with/regarding Diamondback & their subsidiaries). Like PWP, interviewing is initially conducted by Dartmouth Partners in London.
Solid shop but not even close to what it used to be. 3/6 interns from last summer aren’t returning. 1 intern from last summer was told that that they weren’t showing enough facetime despite the firm being apparently against facetime requirements. Gave a $10k COVID retention bonus but it was in stock and vests over three years. They still have decent deal flow but have far too many mouths to feed for the revenue they’re generating. Still one of the better places to be in Houston but not nearly as desirable as it was a few years ago.
Curious about the 3/6 intern statistic, since I believe that I’ve seen it before in another thread. Are they not receiving return offers or are they choosing to pursue other opportunities (eg. internal lateral to PWP NY for FT)?
Yeah this guy didn’t add nearly enough color to this.
Out of the three not returning, one is an internal lateral to PWP, one did not receive a return offer, one did not want to be in Houston/Energy and re-recruited. 5/6 received return offers.
Did they only have 6 interns?
There’s about to be a major shakeup in Houston. Can’t give details but one BB is about to get fucked lol
Assuming another Bank’s gonna poach that BB’s senior MDs? My bet’s on CS
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Could be BarCap, money on CS tho.
It was Citi huh?
Well looks like whispers were getting around more than a month in advance. Never expected it to be Citi though.
Holy shit. This is nuts in retrospect. Crazy the sort of insight WSO can give you into internal stuff if you get past the BS.
Citi, JEF, JPM, and GS are all better
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