Best groups for PE at NOT top tier BBs
Everyone knows most groups at GS, MS, & JPM place very well. Anyone have any knowledge of the best groups for MF/UMM PE placement at BAML, Citi, Barclays, DB, UBS? Interns/Prospects: Please do not turn this into a debate about whether DB/UBS are BBs or not.
The M&A and sponsors groups always do pretty well. Beyond that it doesn’t really matter — no one parses through the industry groups at all. There’s maybe some value to knowing which groups execute M&A in house vs. not but it doesn’t really matter. You’ll be doing enough basic M&A and LBO math in any group and that’s all that matters for PE recruiting. You can figure out the complicated operating model stuff later on.
I’d prob just pick the group you’re most interested in subject matter-wise. You’ll perform a lot better if you’re engaged in your work and will come off as more enthusiastic / interested in interviews.
From the people I’ve spoken with (not that many) the best group at BAML is HC and Sponsors and UBS is TMT and Industrials.
Majority of groups at Barclays and Baml do well in PE recruiting. Sponsors/Levfin are the strongest at CS, M&A/Industrials are the strongest at Citi. Sponsors is the best at DB hands down. MF/UMM from UBS is a pretty big challenge, but Industrials, levfin+sponsors could give you a shot
Can you elaborate on the specific groups within Barclays and BAML that do well for PE?
At Barclays its generally the coverage groups(Power, Consumer, Natres, Industrials, sponsors etc) and at BAML its coverage in addition to product(levfin, m&a, sponsors if you want to count that). Obviously avoid RE/FIG but on average, BAML/Barclays are the next tier under jp/gs/ms strictly for PE exits.
Anyone know how regional offices for EBs are regarded for tech-focused umm/mf buyout (not growth equity)? More specifically, Bay Area tech m&a offices for firms like PJT, CVP, LAZ, EVR, Moelis?
PJT SF is brand new, so not very many exits - an analyst left for MM PE last year iirc
Laz and Evercore both place well for west coast UMM/MF
Not sure about CVP
I don't think Moelis SF is as good as Moelis LA
Moelis la is better than sf. LAZ SF is all coporate work for companies like google (I believe laz boston does all the sponsor deals). EVR menlo, CVP PA are both elite. PJT/Rothschild are both small, newer offices. Q is obviously top notch but doesn't focus on placing analysts as they seek kids who "want to be career bankers." On the other hand DBO (& Greenhill to a lesser extent) punches above weight for placement. Raine group runs a team out of sf as well.
RBC M&A and DB Sponsors/Lev Fin place like average mid-tier BB groups from what I've seen. UMM and MF is not impossible with right background (GPA, undergrad prestige, etc.)
Restricting myself to two groups from each bank:
BAML: M&A or TMT
Citi: M&A or Industrials
CS: FSG or Lev Fin
Barclays: Nat Res or Power
DB: Lev Fin or REGLL
What about CS TMT and UBS?
If you're looking just for BB information then this may not be useful, but I've seen quite a few people from Jefferies HC make it to MM HC PE in Europe, not sure about the US.
Out of all of them, probably BofA FSG/M&A and CS Sponsors are the most competitive with Top BBs
Don't forget RBC. Top tier BB
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