minny corp fin is industrials only, i think. restructuring is big there.

within corp fin, cfr and industrials are quite strong. hc does well. a lot of money has been put into TMT with the two recent acquisitions but i dont know theyve taken off yet as hoped. within the banking universe, HL a&d is one of the better practices around but there are only so many relevant mandates so the profile there is kind of capped.

 

BTW, What exactly does an analyst do in restructuring? I'm currently doing an internship in M&A, are the skills transferable? Is an analyst still spreading comps, building models etc? I assume not.

 
Best Response

Restructuring analysts do pretty much everything M&A analysts do but also get exposure to distressed and bankruptcy situations. The threat/possibility of defaulting on a loan or breaking a covenant is always looming and that adds an extra dimension to the normal deal process. Analysts still spread comps, build models, obtain data from companies, but the amount of pitching is definitely a lot less than M&A ( at least in these markets), which is a huge plus. Whether restructuring is better or not than M&A I couldn't tell you, but it definitely is pretty good. I don't know too much about the exit opps but I'm guessing they're not bad.

I have some friends at the Chicago Houlihan office and they're all loving it. PM me if you have any other questions.

 

but JWS is right - their strength is in creditor side restructuring. That being said, working in M&A at HLHZ probably isn't all that bad. I'd think exit opps could include smaller MM PE shops.

 

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