Merchant banking vs PE

I hear BDT referred to as both a PE firm and as a merchant bank. What's the difference between these terms?

499 WSO Academy Private Equity Session Reviews: 4.82/5

Class of '23 Oct 2026 Cohort

5.00/5

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“Very good planning prior to the meeting and effective notes that allowed the session to go quickly and effectively. We covered a lot of topics on the resume and I recieved a good amount of notes that I can correct my resume in order to make it more specific for the PE companies I will work with. Was very helpful in the way of bringing out niche skills I have in order to maximise my chances at differentiating myself from more typical IB candidates. Also provided good insights on the MBA process, what is valuable and the WHY side of P.E. which I will go into depth with in my WHY statements that I am going to do. ”

Class of '27 Sep 2026 Cohort

5.00/5

Private Equity Mock Interview

“Andre was amazing to work with. He brought real energy and clarity to every conversation, explained complex ideas simply, and always made time to help. His attention to detail and calm under pressure lifted the whole team, and his feedback was honest, specific and genuinely useful. Beyond the work, he was approachable, generous with his knowledge and made everyone around him better. Every session with him felt insightful and inspiring. I'd love to work with Andre again and would recommend him without hesitation. ”

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2 Comments

franco

PE

4y

I think BDT Capital is PE and BDT & Company is the merchant bank. Latter refers to advice and underwriting business.

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Authored by: Certified Private Equity Professional - PrincipalCertified Private Equity Pro

PE

Associate 2 in PE - LBOs

4y

Most Helpful

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Authored by: Certified Private Equity Professional - 2nd Year AssociateCertified Private Equity Pro

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1	redever	99.2
2	kanon	99.0
3	BankonBanking	99.0
4	Secyh62	99.0
5	dosk17	98.9
6	CompBanker	98.9
7	GameTheory	98.9
8	DrApeman	98.9
9	Betsy Massar	98.9
10	numi	98.8

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Merchant banking vs PE

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Merchant banking vs PE

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