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.

Comments (22)

Nov 27, 2014

bumpity bump bump bump

"For there is nothing either good or bad, but thinking makes it so."

Nov 28, 2014

i have no idea whatsoever but I'm in a very similar situation

Nov 28, 2014

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.

Nov 29, 2014

Thanks, much appreciated!

"For there is nothing either good or bad, but thinking makes it so."

Dec 30, 2014

Do you happen to know of other names of PE firms that Baird/Blair analysts have gone to? I did a lot of searching but didn't turn much up in the way of concrete examples. Not that I don't believe you, as that's what I tend to hear, just bored and curious now that I've accepted my MM IB SA offer.

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Dec 30, 2014

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.

Dec 30, 2014

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.

Dec 30, 2014

Any info on Citi's Chicago office and analyst placement?

Dec 30, 2014

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

Dec 30, 2014
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.

Dec 30, 2014

Deal flow and group reputation matters a LOT for private equity recruiting. If you are in a group that doesn't execute in Chicago then you won't place well.

Think about how Goldman NY TMT places into all the tier 1 shops, however, GS LA TMT can't place at all. UBS Los Angeles places very well, but UBS Toronto doesn't really place.

Dec 30, 2014

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.

Dec 30, 2014

sent someone to MDP this past year.

Dec 30, 2014

CS/UBS provide the best overall exit opps in Chicago. Heard of a LB analyst going to KKR recently, but don't know if there's any truth to that--LB doesn't place all that well in Chicago.

Dec 30, 2014

you'd think they hire 85 analysts a year.

Dec 31, 2014

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

Dec 31, 2014

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.

Dec 31, 2014

bump bump bump it up

http://www.youtube.com/watch?v=lZ1G0-ddAiA
thoughts?

Dec 31, 2014
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Dec 31, 2014