This is what I've heard after speaking with a 3rd party recruiter that deals a lot with the firm (take with a grain of salt): -Work long hours -Large deals, sometimes will pitch against bulge brackets and bigger banks for energy deals -Deals most comprise of financing for energy projects, not a ton of M&A -Great new office and good culture -Not sure on compensation

 

Good bank but would say >90% of deal flow on assets / portfolios. Fine but means less exposure to platforms - could be good or bad thing. Naturally less platform works means less buy side mandates which most of the time are honestly unsuccessful. However you do learn a LOT when it comes to platforms so depends on what you want to do after IB

 
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In general, most renewables transactions are at the assets and portfolios; this is just how infra is financed (through SPVs). This is what the industry considers M&A. There are far more corporate M&A deals with IPPs and DevCos as of late as financial sponsors want to take development risk, because there's too many low cost-of-capital investors chasing construction stage or operating assets.Marathon is a well regarded shop, and I've seen the juniors exit to top megafunds and pension funds within the renewables / infra space. You'll likely be limited to energy / infra focused roles, but you'll be able to compete for top roles in this sector.

 

I'm currently at one of the largest IPPs/renewable developers in the US as an analyst in the project finance/capital markets group. We've worked with Marathon here and there and the teams seem pretty competent. I'd like to eventually move to megafund or large infra PE (GIP/Stonepeak/InfraRed/Glenmont/etc.) but don't know how realistic it is from my current desk. Would it make sense to lateral to an IB like Marathon which interacts with these funds much more regularly than my current team and develop those relationships and other general IB skills? 

 

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