Related threads are either outdated or results are scattered, what are the BB's or EB's with reputable Real Estate IB groups after Citi, JPM, and BAML? Looking for opinions on exit ops and deal flow. Thanks a bunch
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This question has been asked 10+ times over the past few weeks.
As has been stated, all the BB's REGAL groups are very similar. If you look at league tables, the "best" bank (call it BAML, for example), only has ~5-8% market share, whereas the "worst" bank (call it UBS, for example), only has ~3-5% of the market.
There is very little difference between all the BB's, but it might be advisable to join MS/JPM/GS/BAML/CS/BAR/CITI just because BB's dominate the REGAL space, and you want to join a reputable BB that still will give you strong exits both within the REGAL space, and in PE more broadly.
The nature of REGAL work is that it is very debt intensive, and therefore EBs have a harder time winning mandates.
They're far from similar. Deal flow at CS and UBS has been lagging. Would be difficult to compare these two to BAML, Citi, MS.
Not true. Look at 2019 and 2020 YTD league tables.
I know DB is up there. One of the top groups at DB
BAML has dominated real estate since the GFC, both in terms of fees and total transaction value. It is the group to be in if you want Real Estate PE exit opps. Then followed by Citi, MS, JPM, and DB.
How do CS, WF, and UBS stack up? I've heard mixed
CS > UBS > WF
Best is definitely BAML followed by Citi/GS/RBC/MS for strong RE
This is accurate I had the chance to interview with BAML REGL IB can confirm
How was the process / interview?
How are they ranked based on M&A, equities, and debt respectively?
Can u do corporate PE from Regl IB or are you limited to repe?
See my comment below.
On that note, does doing RE IB pigeonhole you into only RE PE for the most part? Also what's the comp/progression difference between LBO PE and RE PE?
Yes and no. The RE group is mostly for people with some level of interest in the industry. At the MF level, there's little comp/progression difference between corporate PE and REPE. The RE funds of BX, KKR, TPG, and etc have very flexible investment strategy, so you will also work on LBOs there (think BX & Hilton, BX & EOP, TPG & Cushman and Wakefield).
following
How much do exit opps differ between top and bottom REGL groups?
Being in a top REGL group means better M&A deal flow, and your deal experience matters a lot during buyside interviews. With that being said, exit opps highly depend on the person's caliber.
How does DB fare in REGL? thx
DB used to have one of the top REGL groups until the recent senior bankers exodus (heavy hitters like Amish Barot left for PJT).
Barclays
No idea on dealflow or exit opps (believe it's not too fantastic) but have a friend there who says the culture is great.
Wb Jefferies
bump ^
Would love to know about Jeff in Charlotte
Same ^ would love some info on the REGAL group
do well in gaming specifically
How is Houlihan Lokey?
Analyst class is like 1-2 a year. Not great place to start at IMO
Top groups are BAML, Citi, MS, GS, Barclays
How is jpm?
lemme guess u got a lateral interview invite?
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