I've been on a couple processes where unregulated banks such as Jefferies / RBC have been able to offer much higher leverage than us and ended up leading the deal
They're obviously not executing the deals well (see TOMS/Compuware), but they are taking a good chunk of the market share that we typically dominate.., Barc and CS definitely aren't doing as well as they should be right now
TOMS was what I would call "the shittiest of the shit." I puked in my mouth a little as I went through the deck.
They did SurCen as well, which was also a crappy MM deal.
Anyways, I get runs from all 3 of the aforementioned banks daily, and I can definitively say nothing has changed. Maybe at the fringes, but not much. The big guys are still winning the majority of the big stuff.
I think we may be talking past eachother, though. Im a credit/distressed guy, so im looking for investable assets - and I wouldnt classify many Jef deals as investable.
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What?
Jef continues to lead only the shittiest of the shit deals, like they always have. Barc & CS continue to dominate the lev fin market.
http://www.bloomberg. com/news/2014-10-22/fed-s-loan-scrutiny-leaves-banks-passing-on-buyout-deals.html
I've been on a couple processes where unregulated banks such as Jefferies / RBC have been able to offer much higher leverage than us and ended up leading the deal
They're obviously not executing the deals well (see TOMS/Compuware), but they are taking a good chunk of the market share that we typically dominate.., Barc and CS definitely aren't doing as well as they should be right now
TOMS was what I would call "the shittiest of the shit." I puked in my mouth a little as I went through the deck.
They did SurCen as well, which was also a crappy MM deal.
Anyways, I get runs from all 3 of the aforementioned banks daily, and I can definitively say nothing has changed. Maybe at the fringes, but not much. The big guys are still winning the majority of the big stuff.
I think we may be talking past eachother, though. Im a credit/distressed guy, so im looking for investable assets - and I wouldnt classify many Jef deals as investable.
Porro in autem aut molestiae ipsam eum. Dolores mollitia rerum incidunt sapiente. Alias molestiae omnis a aut ea dolorum.
Odit inventore et illo eveniet voluptates et velit. Officia et dolore veritatis blanditiis. Alias soluta quam qui voluptas exercitationem molestiae suscipit.
Asperiores quod eum dolorem ex voluptatem vel soluta. In eos repellendus quam aliquam quisquam. Quas eos mollitia velit sed omnis. Animi ut labore sed nulla iste omnis dolor praesentium. Rerum impedit et odio nisi. Voluptates omnis soluta architecto provident id ullam.
Assumenda vitae hic ut et veritatis eligendi. Similique provident vitae quia quo et delectus. Voluptatem quae pariatur numquam ut est qui. Non ducimus incidunt nemo cumque qui qui rerum. Sed quas animi velit vero aliquam odio qui similique. Possimus quam voluptates ab et.
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