Houston Exit Ops
I’m an incoming analyst for a BB bank in energy coverage. What are some potential exit ops for someone in this position? Thanks
I’m an incoming analyst for a BB bank in energy coverage. What are some potential exit ops for someone in this position? Thanks
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Current analyst in Houston. Would say things for the last couple classes have been odd due to COVID/recruiting timelines, but have historically fallen into a few buckets:
Above is what I had seen as the “normal” exit ops from Houston, with a hand full of people making the jump to MF outside of Energy in NY/SF, others doing random startups, and others into hedge funds (but not super familiar). Would generally say staying in Energy/Infra is the natural path, and moving outside of that sector typically requires more work / trade off. Again, this being reflective of a pre-COVID “norm”. Since COVID began, I have seen a lot of lateral movement to teams outside of Energy as the main non-energy exit as other groups have picked up deal flow. As things have improved for the energy funds recently, hiring will/has likely picked up some to provide opportunities there. Additionally, the post-COVID renewables/cleantech focus and SPAC wave has provided some running room for traditional energy investors to move into the space. Still to be seen if there will be sizable junior demand for that skill set and if they recruit from Houston vs. vs. NY renewables vs. SF/tech teams.
This is just from my point of view so happy to hear other perspectives as I know things have been in flux the last 12 months and my views maybe out dated.
Former Houston BB analyst who lateraled out of energy coverage. Your traditional exit opps will be to energy-specific and infrastructure buyside firms, along with any local (Texas) funds. Speaking from experience, moving out of both Texas and an energy coverage role to a reputable tier 1 fund will be very difficult, logistically and optically. If you aren't interested in covering O&G long term, I'd encourage you to think about a lateral move.
I thought the Texas Energy PE funds all reduced future associate class sizes or had issues raising future funds.
the SPAC / renewables attempts for some of those guys won’t last long
Know White Deer and Encap definitely had layoffs
What would be the best Houston banks for exit ops into PE?
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