Best PCA/Secondary Advisory Groups
Saw a similar post on here from 2021 and not much else since. So much has changed in this space in such a short amount of time. Curious about how others in PCA and buyers think about who are all of the groups and where would you rank them?
Legacy players:
Evercore >>> PJT > Lazard >>> Jefferies > Campbell >>>>>>> everyone else
Some of the BBs are starting to build out PCA practices, know MS is starting to gain some traction but will be tbd how it shakes out long term for them
I agree with the first 2, think Jefferies is ahead of Lazard and Campbell is just a known name in the space, not really anything great.
Seems like every BB is trying to get in on it
Yeah depends how you’re measuring - was ranking based on perceived “prestige” or brand bc that’s all this forum seems to care about, but Jeff is a more active franchise in terms of mandates than LAZ atp and is definitely on the up. Campbell is just eh but I still think they’re a clear cut above RJ or any of the MMs that try to bank shitco CVs
disagree strongly with PJT being ranked 2nd here.
No hate for them, but the amount of deal flow we see from them has dropped off significantly in the last few years. We're a major secondary player and for us, I'd say it goes more like this:
On the GP-led side: it's Evercore>>Lazard>Jefferies>>>>PJT>>>>>>Campbell>>>>>> everyone else
On the LP side: Evercore>Jefferies>>PJT>>Campbell>>>>>everyone else
Besides just the top shops, who do you see a lot of?
Any view on how the GS secondaries team is doing? Haven't heard anything about them in quite some time after making a few moves 1-2 years ago
Evercore
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