Tudor Pickering Holt (PWP Houston) - Updated info and reputation?
Would love to learn more about TPH down in Houston. I heard they are one of the best in Oil & Gas upstream A&D type of work... how are they in downstream / oilfield services / restructuring?
And of course, how’s TPH’s reputation to buyside recruiters/headhunters (exit opps)? Is pay above street like PWP NYC for analysts/associates? Any comments you have about TPH would be helpful, thanks!
EDIT: There’s been news that PWP hired Goldman to prepare for an IPO... how do you think this affects TPH in the future? Lower comp? Bonuses in stock vs all cash?
Jefferies dominates the Houston A&D space. EVR Houston dominates E&P, top deal flow, comp, and exits bar none. I know RBC and MS have been closing tons of deals as well. Honestly think LAZ is on the come up. TPH doing alright, but they've not been quite as hot as in the past. Heard great things about TPH culture though and the team seems nice. Reputation for exits very pretty to energy however, but I believe you get the chance to switch to PWP NY office.
What energy deals has Lazard been on recently?? I don’t think they are really “on the come up.” Haven’t seen them on anything recently and have heard from multiple sources that it has been slow there.
You are correct that MS is having a great year. Although top 3 in Houston in terms of M&A dealflow are still Barclays, Citi, GS (just look at the league tables).
Back to this original question though, TPH still has a really solid group in Houston and is top 5 in terms of dealflow this year. They were on the Diamondback/Energen and Concho/RSP deals. Don’t know much about the culture/exit opps, but definitely not a bad place to end up.
Looks like LAZ Houston has been doing a decent amount of RX the last couple of years
Last bump :)
Went through recruiting with them earlier this year. Idk much about oil & gas at all but in terms of culture, it seemed pretty incredible. The partners and MDs chip in their own money to send their analysts and associates away on a weekend trip somewhere (skiing, beach, lake, etc).
They also emphasize a lot that you will get paid a lot more there than a bulge bracket over your career, but have no idea how true that is. Again, idk much about energy PE but I can name the places I’ve been told: Riverstone, Kayne Anderson, KKR Energy, BlackRock Real Assets, Blackstone GSO. I dont believe anyone has exited to non-energy specific funds. Hope this helps and maybe someone with knowledge on O&G/energy can give you more hekp!
Not super plugged into the E&P space, but I know EnCap is another name that pulls from there.
Bump... also how hard is it to learn the oil and gas industry specific knowledge/terms/valuation from scratch vs something like consumer/industrials/media?
TPH Houston (Originally Posted: 09/16/2011)
I just look at Tudor, Pickering, Holt analysts bios for the most current analyst class and its looks less than impressive. As far as credientals go, far worse that last years class. Anyone know why this is or what is going on? Are the exit opps at TPH not very good? Any idea where most analysts end up? I mean I think that 2 of the analysts had listed that they had worked for their previous college in som e dept. after college.... not exactly the kind of challenging work experience I would expect to find in an analyst class...
any thoughts?
Seriously? This the dumbest fucking post. TPH is fucking crushing it right now, and really the only bank I could see my self working at long term. Good dudes, really know what they're doing.
They added a power/utilites group based out of NYC back in April. AP from GS joined the team about a month or so ago.
There is a spelling mistake on the first page, a gold star for the person that finds it.
I see it. Must be a chop shop.
Measured.
http://www.tudorpickering.com/
Yeah, TPH is baller as fuck... you might have heard of some of the shops their analysts go to... TPG, First Reserve, Natural Gas Partners, etc. They are a great shop... you must be terribly out of the loop...
TPH has some pretty chay bros
What's the largest deal they've done?
They just did a 10bn natural gas securitization on my ass
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