Barclays Telecom & Media (CMG) Group for PE Recruiting?

My questions/TLDR: 1) how important is group really for PE recruiting- this group gets less M&A mandates than being on every capital raise ever lol, but how important is M&A deal experience vs general/ capital markets experience for traditional MF/UMM PE recruiting? It's a good group and all but less M&A activity than I hoped for compared to EBs or JPM C&M. There were some recent hires and the group is going through the biggest changes in several years (due to how busy it was during covid and poaching seniors from other banks, but no one can tell how that will play out). Am I overthinking my potential prospects?I chose the group because of culture knowing it would at minimum give me a 'floor' of good experience, but I may have overshot my expectations on M&A deals. I might have a shot to still exit at 99% of places based on historicals (knowing many opt for Corp dev and the group usually exits to some MF / UMMs in the past/recently, but can't tell if those are one-offs and if they were lucky with staffings) but not sure what I'm supposed to do to "compensate" (or am I thinking about it wrong?). If for staffings luck plays into who gets on M&A and who doesn't and that dictates placements I will be pretty disappointed.To be fair with myself, I have better intuitive and critical technical / investing knowledge and thinking is as good / better than most (I'm from a target in the right investing groups and have done lots of PE modeling / case interviews etc). I'm not worried about doing well in the interviews, but more about getting interviews in the first place.Recently finished an internship with the group and it was pretty awesome, I like the culture and pretty much everyone in the group is easy to get along with and actually like for the most part (there's a tryhard or three everywhere but still can get along well). I can definitely see myself there working for 2 years and enjoying my time with people on the team. So I'd rather not switch groups or banks unless it makes a material difference - additionally, it's very possible I won't be the 'best' analyst in the group (who knows how things will shake out in 6 months - year).I joined the group knowing they got a lot more busy post-covid thinking it would equate to an increase in M&A activity and not just capital raising from big incumbents in the media and telecom space but the SPAC boom along with some pitching makes it seem like its no longer the lifestyle group it once was. Additionally, they seem to do financings on the big mergers in the space versus being advisors on them and even if they are listed as such on the tombstones idk if it's only because they were on the financing and being thrown a bone.Any advice for my situation? How do I best position myself for shots at good MF/UMM funds? Disclaimer I appreciate my position and all, but I don't want to see worse outcomes for myself compared to people who were clearly much further behind investing-knowledge wise in school or just process monkeys (e.g. good grades / can put in lots of hours but not that smart). I know what PE lifestyle / work is like from friends (just as if not more than IB) so I know it's a better fit and want to do the best for myself. Really appreciate your advice.

 

What are perceived disadvantages if I were to get less than expected M&A experience, for recruiting with classic PE firmsAnd as important general ‘group pedigree’ is or isnt, how would you find the CMG group at Barclays knowing it's on most cap raises but much fewer large M&A mandates as the EB's / JPM (though still has a few, staffing might be random and could not get much experience for it) — for example doing the finance on ATT time Warner or ATT Verizon vs being actual financial advisors on the merger.

 

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