Restructuring exits outside of distressed PE/HF

I'm currently a freshman (non-diversity, target) and have been exploring career paths in finance and in banking specifically. I'm involved with a decent number of the big finance and trading clubs on campus and have developed a pretty strong network of upperclassmen (and some recent grads) going into BB M&A/coverage, EB M&A, EB RX, along with the occasional PE/HF straight out of undergrad. I haven't begun formally networking / prepping technicals yet but I know shit hits the fan pretty quick sophomore year so I want to make sure I have a game plan going in.

Recently I've developed an interest in restructuring. I'm very attracted to the highly technical, fast-paced nature of the work (I've enjoyed this type of work in the past and it suits my personality), and also find the zero-sum game theory aspect and legal element exciting. My club involvements have exposed me to some relevant industries (energy, cr) and I've worked firsthand on distressed / post-reorg pitches and case studies and found it super engaging.

One concern of mine is the potential exits following a 2-3 year stint at a boutique RX group (EVR, HL, PJT, Moelis, etc). I know exits at many of these groups into distressed PE/HF are top-notch in general, but I've heard conflicting views on exits into traditional PE/HF compared to their M&A counterparts. While I'm definitely interested atm in the capital structure / debt / distressed side of things, I want to keep my options open down the line in case I end up more attracted to traditional buyside work. Can anyone speak to what exits from these groups have looked like in recent years? And also perhaps about the degree to which a heavier emphasis on distressed is a product of selection bias (i.e. rx guys are naturally attracted to the distressed side). I know PJT publicizes their exits so I'm moreso targeting this to the other firms listed.

 

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