Top Restructuring Groups on Wall Street
Was wondering about the tiers of restructuring groups. I know PJT and Lazard are top but what about the others? Thanks!
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Top are PJT/HL/Laz - they're generally advisors to one group whether it be debtor or creditor in every major situation.
This is followed by Moelis, Rothschild and Evercore. Slightly smaller shops that get in on a fair amount of deals. Rothschild tends to do a lot more international deals simply due to their international brand.
After this comes Centerview, Greenhill, Guggenheim and some of the restructuring specific shops like Ducera, GLC etc. Some of these shops have only really just started out their restructuring arms but have room to grow and could be major players in the coming years
I agree with what he said^
I would also add Millstein RX. They advise on a lot of sovereign and municipal restructurings, which is a really interesting.
Millstein was acquired by Guggenheim last month
Would add Jefferies, PWP, and maybe PJSC to your third tier, but this is a pretty good overview.
Yep, agreed. The most high profile deals usually go to one of the three. However, if you are interested in doing restructuring work for governments, Rothschild is the best place to be. They are advising Greece, Puerto Rico, Venezuela etc.
What makes Ducera one of the best in RX? And is the comp really that?
Ducera is Rx focused but not Rx specific
Where do most RX junior bankers go? I've heard about distressed PE / HF. Do a lot go to business school?
Thoughts on the Guggenheim acquisition?
Sorry to go off topic here, but what is RX like as a long-term career?
Can anyone give specific insights on the RX exit ops at say HL/PJT? Is it only for distressed PE? Or can you still get into traditional LBO groups at top shops?
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