I was reading about boutique investment banks and their differences from bulge bracket ones. I read that while bulge bracket banks often do stuff like debt & equity capital markets and leveraged finance etc..., boutique ones often don't offer these services and usually do stuff like M&A and Restructuring. I am wondering, why is this?
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Boutiques don't have a balance sheet
What does this mean? Commonly thrown around on WSO but u don’t understand it
"iNtErN iN iB - InD"
Incoming SA 2021, douchebag.
It means they don't lend money. Bulges do, so when a restructuring process is underway, they are often at a conflict of interest bc they want to get paid back. That's why boutiques are go to for Rx (restructuring).
Good for ya and all but kinda depressing that I'm out here grinding for an offer and you don't know what that means...
https://www.wallstreetoasis.com/forums/what-is-a-balance-sheet-bank
Ya for ECM and DCM, the BBs will raise funds for an IPO off of their own balance sheet and then syndicate it among investor groups and keep what hasnt been sold. Boutiques obviously dont have the financial capability to hold onto billions of dollars of shares. Same concept applies to debt underwriting
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