Tier 1 PCA/Secondary Advisory
There recently was an interesting post on the PCA market and I went into detail about the various shops out there. I got some heat for my view that Goldman is establishing a great shop since they're presently untested and myis more of a Tier 2 since they're going to need to do a total rebuild. It would be great to discuss the following groups in more detail. Culture, hours, pay, deal dynamics, assets, anything:
: Highest volume and highest paying. Turnover is high, super high stress environment.
PJT: More of a single-asset continuation fund shop - can they really compete with EVR without a massive increase in headcount and experience?
Lazard: More of a GP-led shop but got gutted talent wise and needing to do a total rebuild.
: Ex -Cogent team. I've seen quite a few of their deals in the market both on the GP-led and LP side and the quality was high.