TMT in London
What are the best places in London for TMT as an analyst? How does Arma partners comprate to them?
Thanks!
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Arma Partners compares very well.
So Arma is doing well compared to other mm firms? (Jeffries, Macquarie, Nomura etc.)
Push
Arma is okay. Occasional exits into lower-MM PE and other MM shops.
What about Oppenheimer, Ondra, Piper jaffray, Mooreland, Cantor Fritzgerald?
Arma is top 2 after Qatalyst that works on bigger deals.
GP Bullhound is doing that well?! What are the Exit Opps from there?
I'm about to decline their offer HAHA
Exits in small European boutiques are not consistent (due to the size of the analyst class etc) but people are going into VC (not sure about PE) from all of the above, probably not sequoia and the likes (except for Qatalyst). On the deal flow side, GP has had 10 transactions since the beginning of the year vs 8 for Arma (although much bigger transactions. GP has more exposure to European countries (IE France, Spain, Nordics). Torch partners on the other side has a much smaller deal flow (and is smaller, so dealflow/analyst is roughly the same as GP), but strong links with companies the have followed since VC (Just eat/Zoopla) . I am on the VC side, if any expert that gave me MS could explain/debate why they think I am wrong, more than happy to discuss.
May I ask what are your other options?
PE fund with 1bn AUM. Having said that I still have a lot of time. I'm applying for SA in 2019, but I have really subpar grades (but already experience from a regional boutique in continental Europe).
push
Since Jefferies (broadview) took themselves out of the market, Arma is extremely strong and stepped in quite nicely. I dont know about exit opp but they have significant market share in that particular part of the market.
Cannot be compared to GB as the deals are just different. Qatalyst is tiny so also not a comparable. Torch also not there.
Arma Partners is indeed a top-notch TMT player in London. They have been growing very fast over the past few years and are becoming the main reference for TMT in Europe. Arma competes mainly with the bigger names in London MM (especially Jefferies/William Blair) and EBs (Lazard, Evercore, LionTree) + TMT teams of BBs for their larger deals.
I recently went through there recruiting process as a potential lateral hire, but didn't make it past the last round. Had interesting conversations, but think fit with the team was not perfect.
For accuracy, should probably clarify that Arma's success is largely in (mostly) mid-market Tech, rather than in Media or Comms that remain dominated by larger banks.
Arma is indeed more mid-market focused but they have been doing a ton of larger 1bn+ deals over the last years, especially in software
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Hi everyone,
I am at one of the low end tech boutiques in London (Analyst2). Previous experiences include M&A execution at Tier2 Bank and another low end TMT boutique. Whats a good way to get into the likes of Jefferies etc? Hear Arma culture is really awful! Also not big outside UK. Jeff has good Tech team. I really want to break into Tech PE one day.
Background- UCL undergrad, LSE masters. 1 yr internhips, 1.5 yrs FT exp. have 1yr gap on CV so had to start at low end...I don't know if I should do mba or not. Any comments would be appreciated! Thanks!
Best places for TMT in London (Originally Posted: 08/23/2018)
I was wondering what the best places are for TMT in London? What banks or boutiques have the best dealflows? Which place could be the best comparison with Qatalyst in the US?
Hey santroso, the following topics might be helpful:
If we're lucky, maybe I can guilt some users to help you out: fairaaron gthemens ab216
If those topics were completely useless, don't blame me, blame my programmers...
Arma Partners has impressive dealflow and dominate the TMT space in Europe. Have seen them on a lot of large deals recently
Johnpasoa, you've done well promoting Arma Partners on this forum. Every recent European TMT related thread has Arma mentioned in it (by you). I hope they pay you for this...:)
On a serious note, the deal flow at Arma is strong, but it is still mostly mid-cap tech with an occasional comms transaction here and there and an occasional deal above US$1bn...it is a very different ball game compared to the likes of GS, MS, JPM, UBS, DB , etc. To classify Arma as a leading TMT franchise in Europe is stretching the bounds of reality.
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