Moelis Capital Markets and Private Equity Solutions
Hi all. Does anyone have any information on either the capital markets or private equity solutions group at moelis? are the hours just as bad as the traditional group? What is the culture like?
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Not sure if you're referring to the Private Funds Advisory group but the primary fundraising side of that business has been shuttered entirely. All that's left is the secondaries business, helmed by this ex-Evercore guy who pretty much tore up that whole group. Moelis isn't bringing on any more active mandates on the primary side and is just running off their existing clients' funds.
Bump - any info on the capital markets team?
Bump - what are the hours like in these groups?
PESG (Private Equity Solutions) is the Moelis equivalent of Financial Sponsors groups at other banks but is really "banking lite" in comparison to a place like BofA that actually functions like a real group. You don't do any modelling that the classic coverage teams do and you spend a lot of time pulling together Sponsor one-pager profiles on various PE firms at the behest of the classic coverage groups and scrubbing transaction comps. The Analysts that were there originally when the group started a few years ago have all left the firm since it was difficult to move to classic coverage given internal pushback and lack of transferrable skills. FWIW the hours are a lot less but from what I remember their total comp was lower (85 base while everyone else was on 110).
Capital markets is pretty relaxed given Moelis doesn't really have a balance sheet so they can't do any of the functions you'd see at a regular BB. I worked with them one time on a deal and I was confused as to what they actually did beyond sending out market updates to the firm every week or so. That being said I think they still get paid the same as people in classic coverage but I'm not 100% certain.
Really appreciate it. Would you say the hours for capital markets are closer to ~60 or is it similar to traditional coverage at Moelis?
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