Houston boutique/mm PE exit opps 2022
Wondering what Houston PE exits look like from the boutique / middle-market firms in the area (think RBC / Piper Sandler / Intrepid). Very interested in doing my 2 years in IB and then transitioning to PE.
Does anyone have insight on what firms are attainable from this tier of banks? (MM vs UMM/MF) and if opportunities are limited to Houston / O&G? (recruiting for NYC, different industry, etc.)
Before anyone says to use the search button, I already have and the information is limited. Would really appreciate this information as I have been searching for a while and this is important to my recruiting plans (cannot currently aim for NYC/West Coast banks).
Having gone through the process a few years ago, recruiting for non-O&G roles generally means you will be targeting LMM/MM Buyout shops (skews better within Texas as people will not worry about you leaving for another city). If you are in a midstream-focused group, you may get more looks at Infra funds. Upstream tends to send analysts to energy funds. OFS may open up doors to industrials shops, but many of those investors who invested in OFS thinking it was more industrials-like have been burnt as OFS is a high beta play on oil and gas prices.
My experience is that if you had rx/Levfin experience, you can recruit for special sits and credit funds as well in a generalist capacity.
Those three shops place very differently. All good in their own regard but vastly different exits. Look at LinkedIn.
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