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April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
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+Bonus: Get 27 financial modeling templates in swipe file
Considering it is M&A which is investment banking, I'd say it is a very good first internship into ibanking lol.
Is this at a BB?
not BB but firms such as HLHZ, Moelis, Greenhil, Chanin etc
I like how you just threw Chanin in there.
Would Distressed M&A give you a broader skillset than "vanilla" M&A?
Chanin ranked 2nd for distressed, 2 quarters in a row. I checked the tables for both volume and deals.
My take on that is that distressed M&A is at least as good as M&A or other areas of IBD because you and the team get to work under the lot of pressure to pull off your cases and the dealflow is quite good ATM. Moreover, you will differentiate yourself and if you can hang in there you will eventually access to good exit opps - Buy-side firms like to have someone "who knows what can go wrong".
In any case, the skills are very similar and you will do virtually the same work, with the exception of a few different tweaks in your financial models and you might look at a bit of legal stuff but that's about it.
Now, of course if you want to transfer to M&A after your internship this is a bit of a sub-optimal choice but if you can hang in there for a few years you will be fine..
Hope this helps
would a standard internship in distressed give you at least as much experience, quality and quantity wise, as a regular M&A internship, even though the distressed deals run longer and presumably need more legal expertise/finance experience? Or as an undergrad intern/without prior non-distressed work exp, would you not get as much out of it?
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