Chicago Exit Ops

I am currently in the interview process in Chicago with several banks, with a few offers on the table. The banks are 'elite' boutiques, regional BBs, and multiple upper MM firms. I really like one of the upper MMs (Baird/Blair), but want to know how that will affect my opportunities two and three years down the road.

How difficult is it to make a jump from a Baird/Blair to an upper MM PE firm inside, or outside, of the Chicago area. Also, I hate ranking firms, but which Chicago bank generally allows for the best exits for analysts. Aiming upper MM PE, not aiming for a mega fund.

 
Best Response

Baird and Blair Chicago both have a very strong reputation with MM PE funds. Analysts in the past have gone to MDP and GTCR, both upper MM funds in Chicago, as well as many other $1bn+ funds (Genstar, FFL, Summit, TA Associates, and Riverside to name a few).

Obviously, GS, CS, MS, and the other Chicago EB/BB's have great placement as well, albeit more regionally focused too.

Making it to an upper MM fund in NYC/SF/LA/Boston would be more of an uphill battle, but not entirely out of the question.

 

Did you look at the names that he did provide? There are lots of examples of ex-Blair/Baird analysts on those websites. If you're looking for additional names, just look at the websites of MM PE firms in Chicago, and you should find plenty.

 

Saying that Baird or Blair has placed into MDCP or GTCR may be technically true, but it's worth clarifying that this is the rare exception and certainly not the rule. The other names you listed are solid though, and some of them very consistently take kids from Blair / Baird.

 

Doesn't matter by the location. Only group and company.

No one ever says, "Oh you did IB with Goldman in Chicago, so I think I'll go with someone who was with JP in NY..." IB at a BB anywhere, is still IB across the board. (but everyone wants to be in NY)

Goldman's coming off a banner year, so they've got the street buzzing. They're certainly in the limelight for now...

"Cut the burger into thirds, place it on the fries, roll one up homey..." - Epic Meal Time
 
vadremc:
Doesn't matter by the location. Only group and company.

No one ever says, "Oh you did IB with Goldman in Chicago, so I think I'll go with someone who was with JP in NY..." IB at a BB anywhere, is still IB across the board. (but everyone wants to be in NY)

This is completely wrong, lol. Actually, someone would say "Oh you did IB with Goldman in Chicago, so I think I'll go with someone who was with JP in NY..." (all else equal) since JPM NY is a better experience (deal flow wise, prestige wise, etc.) than Goldman Chicago.

 

I have heard that group matters.

So which groups in Chicago have the best exit opportunities? I read here that UBS LA, etc all place into excellent PE shops, but how do Chicago offices place into these excellent shops?

Anybody know someone who went to a top-level PE shop from a Chicago office?

TIA.

 

There are an incredibly large number of MM PE shops located in Chicago that would be interested in someone with Chicago PE experience. A large number of analysts from my bank end up in Chicago at PE firms each year. I will say that Chicago has some sort of "Private Equity Professional Association" that makes a resume book sometime in early Spring and many PE firms use it to hire pre-MBA positions. I didn't apply to any Chicago PE firms last year so I unfortunately don't have any additional details for you, but I suspect senior professionals at your firm will be aware of it.

~~~~~~~~~~~ CompBanker

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

Second the previous post. Having [unsuccessfully] superdayed at one of the mentioned banks, I managed to learn that many of its analysts proceeded to work for Chicago PE firms. UChicago and NWs' business schools are right there as well.

 

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