Non-Bulge Bracket Tech Groups

Hey WSO community,

I've done a few searches already and want to know how the tech groups stack up outside of the BB level. I'm not asking for a formal "ranking" because I know everyone hates those, but which of the "Elite Boutique" players have the most reputable tech practices? I know Qatalyst obviously kills it, but how do Greenhill/Moelis/Lazard/Evercore/Blackstone/Parella/etc. stack up? Who else is worth paying attention to? (Savvian, Sagent, etc.)

Perhaps my inquiry is most easily remedied via league tables. Can someone please post activity for Tech M&A?

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Comments (13)

Best Response
Mar 12, 2011 - 9:42pm

Qatalyst is obvious the #1

Lazard Tech M&A does quite well, does a lot MM deals
Greenhill I believe did a pretty large tech deal a while back..not sure how they are doing now
Evercore is building up its NYC Tech presence, SF based on what I know do not do much
Blackstone Boston does pretty well, Menlo just sucks
Perella almost did the Seagate LBO, but not much of a player so far
Savvian does very well in the IDM space, arguably better than a lot banks on IDM MM space
Sagent does very well in IT and Outsourcing, IDM comes next, Software presence isn't that great

To sum up, my order is as follows, Qatalyst, Lazard, Grennhill = Savvian = Sagent = Perella, Evercore = Blackstone

Then again, if you get into one of these shops you will be in a pretty good position to move forward given it's pure M&A (private placement) focus

  • 3
Mar 15, 2011 - 1:42am
Ricqles:
Qatalyst is obvious the #1

Lazard Tech M&A does quite well, does a lot MM deals
Greenhill I believe did a pretty large tech deal a while back..not sure how they are doing now
Evercore is building up its NYC Tech presence, SF based on what I know do not do much
Blackstone Boston does pretty well, Menlo just sucks
Perella almost did the Seagate LBO, but not much of a player so far
Savvian does very well in the IDM space, arguably better than a lot banks on IDM MM space
Sagent does very well in IT and Outsourcing, IDM comes next, Software presence isn't that great

To sum up, my order is as follows, Qatalyst, Lazard, Grennhill = Savvian = Sagent = Perella, Evercore = Blackstone

Then again, if you get into one of these shops you will be in a pretty good position to move forward given it's pure M&A (private placement) focus

Ricqles, thanks so much man. This was very helpful.

I actually did interview at a couple of these places, but I definitely need to stay motivated, haha.

I know this goes completely against the title of the thread, but where do you think the BBs play into this? Are most tucked in between Qatalyst and Lazard?

Thanks again!

“The shepherd always tries to persuade the sheep that their interests and his own are the same.” -Stendhal
Mar 12, 2011 - 10:34pm

I don't think I've seen Moelis in the tech space at all. Otherwise, I'll buy Ricqles' assessment above more or less.

Mar 13, 2011 - 10:24pm

Would also be highly interested in seeing league tables if someone has access them and/or can tell me how to do so myself. Thanks.

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Mar 15, 2011 - 1:43am
Nouveau Richie:
Would also be highly interested in seeing league tables if someone has access them and/or can tell me how to do so myself. Thanks.

Yeah, I'd like to reiterate the league table request as well! Will pay in SBs!

“The shepherd always tries to persuade the sheep that their interests and his own are the same.” -Stendhal
Mar 15, 2011 - 1:20am

Ricqles' got it right. BX Menlo is very small. Laz SF is a pretty good shop.

If your ever deciding between these places, a lot of weight should be put on what you want to do afterward. Lots of analysts in tech groups aren't necessarily trying to go to Silver Lake or TPG.

Mar 15, 2011 - 1:45am
FOXHOUND:
Ricqles' got it right. BX Menlo is very small. Laz SF is a pretty good shop.

If your ever deciding between these places, a lot of weight should be put on what you want to do afterward. Lots of analysts in tech groups aren't necessarily trying to go to Silver Lake or TPG.

To your knowledge, where do the analysts try to go? Is it just a preference for VC or Growth Equity instead of PE? or a lesser desire for the buyside altogether?

“The shepherd always tries to persuade the sheep that their interests and his own are the same.” -Stendhal
Mar 15, 2011 - 3:11am

Breaking into VC is very tough. Some people who do more coverage/less M&A try to get to a Disney, Microsoft, Sony, etc

You'll also have your occasional kid that wants to get into the start-up scene. This tends to be more rare, but it does happen.

Mar 15, 2011 - 3:18am

a lot tech guys go to growth equity due to life style and the involvement you have in the companies.

VC is generally extremely tough to break into unless you have an operational (industry) background.

As far as league table goes...I think I saw something from 451 that allows the clients to download the tech M&A league table. But my rankings up there pretty much summed it up.

Apr 20, 2011 - 8:39pm

They focus on healthcare in SF based on my knowledge. I think they opened up an office in LA since they grabbed the former UBS LA guy. Dont quote me on it though

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