UK/London groups with the widest range of PE exit optionality
Asides Coverage & M/A, what other banking groups give the next widest range of private equity exit opps without locking you into a small (specialised) niche of private equity sub-types, or without limiting the possibility of a wider range of PE specialisations in Europe/UK? I do know leveraged finance experience often tends to limit exit opps to the LBO subtype of PE, and that that ECM/DCM bankers don't have a very bright PE future in London (CORRECT ME IF I'M WRONG). Restructuring bankers could often get limited to distressed PE exits, and real estate bankers~real estate PE. After coverage/M&A, what are the next best groups in terms of wide-spread optionality of European PE business types? How do structured finance groups, private funds groups, private capital advisory groups, specialty finance groups, Financial sponsors groups, etc, rank in comparison to restructuring & real estate banking, in terms of being applicable to as many UK/EU private equity business subtypes as possible? Are London real estate bankers truly limited to REPE exits in UK/EU? PS: Might be a dumb question, but between origination and execution groups, which of the two (origination or execution) are more beneficial for a PE exit, especially when deal flow isn't neccesarily high over a 2 year period?
Following, curious on structured finance and LevFin
Couple of Megafunds have structured finance teams. I know Bx Structured Finance has folks in London
Are any of such structured finance teams considered PE? If no, how does their long-term comp compare with PE comp if someone receives promotion to PE Principal?
Just curious, when a thread has more bananas attached to the topic on the "recently active" list than the actual number of bananas visibly awarded in the thread, does the difference accrue from WSO credits awarded by the Mod Team?
Generalist M&A groups
Realistically you would need to be in either coverage or M&A (some banks don't have a dedicated M&A team). Lev fin will get you some looks but generally exit would be to credit funds. Sponsors coverage team has similar exit vs. Lev fin but generally more difficult as FSG don't tend to touch models (again bank dependent). Ultimately you need to work on deals and models, otherwise the experience/skills are not very transferable to PE.
Your question is super broad, not gonna go into each team mentioned - they do very different things and some of them aren't deal related at all so the experience would be irrelevant for buyside. The private capital advisory side is specific to primary placement and/or secondary advisory, so would be difficult for direct PE. One point on real estate - this depends on the deals / sub sector you work on. More consumer/lodging type deals will get you more exit opps than REPE
What about private funds groups?
Nope, that's for fundraising and IR
You mean it has no PE exits?
By IR, do you mean Investment research?
What about Special situations groups?
I work in Special Sits, and would never consider someone with a PFG background. Ideally restructuring or M&A, private credit also (although pushing it)
What about generalist analyst programs at EB (CVP, PJT)?
Places well but slightly below GS/MS/JPM/Laz/Roth
How would they compare to Deutsche/UBS?
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