What are the very-best London EBs for Private Equity exit opps. Are there are EBs that are as well-respected – by PE headhunters – as lower-ranking BBs (& which-specifically are the "low-ranking" BBs in London?)?
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Can only speak for my fund, but priority for shortlisting candidates looks something like the below:
- GS / MS / JPM / Lazard
- BofA / Citi / Moelis / PWP / Centerview / Evercore
- CS / Barclays
The rest doesn't really get considered afaik
Edit: I see a lot of people are surprised with Lazard in that list. This is just what our HR team communicates to the HH. I didn’t work at Lazard, but at a US BB. For additional context, I am at a US MF that sources a lot of pipeline from those first 4
UK or USA?
Must be US. Moelis / Centerview / Evercore / PWP are all pretty weak in Europe and Lazard places super bad into MF in Europe.
Congrats on Lazard
Congrats on Lazard
Lazard does not belong in that tier when it comes to exits. They send like 1 kid to MF every couple of years at best, majority exit to MM / LMM and some hedge funds for the RX people. Clearly not an exit oriented shop
It's also self selection because at a boutique, you realise that MF PE is just Banking 2.0 and is boring (at least that was the case for me).
Also the boutique classes are smaller (Lazard / Rothschild 30-40???, EVR is like 20, PJT / PWP 15??? CVP 6???) so the exits stats are skewed (sample size too small).
I had a few interviews with MFs but most of them wanted people with European language skills which I didn't have (nor did I want to join them).
I ended up doing what I'm doing now because it is much more interesting + it is a new team within a large fund
OP, Lazard should not be here. This is completely incorrect.
So you know better for my fund than I do? Interesting
Congrats on Lazard bro
What about Rothschild?
It's quite simple:
GS / MS / JPM are in a league of their own and completely dominate PE (and HF) recruiting. Every other firm here has materially worse exits and you will be fighting for scraps. Buyside recruiting is much smaller / less structured / more selective than the US, and firms can literally wait for years for the right candidate.
In my opinion, if you are not at one of those 3 banks, there is very little difference between the usual EB suspects (Laz, Roths, Evercore etc.) and the other BBs (Citi, Bofa, UBS etc.). Just take a look at team pages of MM and MF shops here, or Linkedin. If you are female then your chances improve dramatically.
Agreed. You can land an interview from most BBs or EBs so it's not like you're screwed if you don't land GS / MS / JPM. Many funds have very aggressive quotas for women. Did an internship at a UMM fund and they had a quota that at least 75% of associate recruits needed to be women, but they wanted it to be even higher than that. As a woman, you can land an interview with any fund coming from pretty much any bank. While the bar will be set lower in the interview if you're a woman, you still need to perform during interviews.
Sounds like EQT
This is just not true. In London if you’re coming from a MM or shitty boutique you will not get anywhere near MF/UMM PE. These days, there are plenty of women in the Top BB/EB to take up the spots.
Are there any quotas for black males?
Is Warwick (& UCL) considered a target for associate recruiting?
And would being a non-target (non-UK school) ding a candidate from the GS/MS/JPM tier?
Natixis above all else.
James29k—is that you?
depends on the group / sector, same thing for ranking BBs.
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