Views on PWP in 2020
What is Perella Weinberg’s current reputation on the street for deal flow, exits, culture etc? I have not seen many recent threads discussing PWP in 2019/2020. How would you compare it to banks like Evercore or Moelis?
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Evercore > Moelis >> PWP
Lol "Prospect"
Lol "EU_prospect"
Have heard good things about the culture. Deal flow/exits perspective is EVR>MC>PWP.
PWP has the best exit opps to business school (HBS)
True, founders really help with that. Was more referring to traditional IB exits, not biz school.
I'd agree that it goes EVR > Moelis > PWP, but Perella is still doing well. They've been expanding and are getting some pretty significant deals, including airline restructuring from the treasury, impressive given they're pretty small.
Not that PWP getting the mandate isn't impressive, but the other boutiques are likely advising the debtors and could not be on the deal because of conflict.
The same can be said for the BBs and why they didn't get these mandates - very high possibility that they've done some form of lending or syndication.
How Does PWP compare to firms like Greenhill or Guggenheim? Recruiting at all three right now.
Guggenheim > PWP > Greenhill
Think PWP/Gugg could be a tossup depending on the group
Perella does a lot of work with O&G and significantly more deal flow for rx
Believe Guggenheim RX (Millstein) is stronger than PWP RX You're right about O&G Houston
How would you rank PWP versus a bulge bracket?
Would probably put it in the same area as CS/Barclays/Citi if you're in one of their larger hubs. I know people who regularly chose it over those BB's if they had both offers, but that was also for the London office. Another thing to note is that PWP is pursuing a pretty aggressive expansion strategy in certain markets (like Europe), as shown by them opening up two new offices in Paris and Germany. Ultimately, it definitely ranks lower than some other EB's, but it also is on an upward trajectory.
What about over B of A or JPM or MS?
What about over B of A or JPM or MS?
What about over B of A or JPM or MS?
I personally know a few that chose PWP over B of A and JPM, but it's much more of a toss up between the two than CS/Citi/Barclays, which is why I didn't include it in the previous group. Ultimately, a lot of it can also come down to whether or not you prefer an EB or a BB. Those that chose PWP over B of A or JPM had always preferred the EB structure, or they wanted to pursue something that BB's don't offer, such as RX.
BB : EB GS/MS : Evercore/PJT JPM: Lazard/Moelis/Centerview BAML/CS/Barclays/Citi : Guggenheim/PWP/Greenhill DB / UBS : Rothschild / Jefferies
Pretty accurate
Centerview is definitely on par with EVR/PJT (and I say that as an EVR employee). Huge deals, huge pay.
Speaking with friends across a variety of EBs, including PJT EVR and HL, I've actually gotten the impression that exits-wise Moelis might be better than you think. Sweat shop reputation plus diverse deal experience makes a Moelis-minted analyst something any PE shop can trust. EVR places analysts into industry groups right off the bat, so if you're doing RE or FIG, your exits may be narrowed to those types of funds.
Jefferies isn't even a boutique what are you even on about
this is not accurate at all.. PWP is a tier above
Cannot speak for the whole firm, but know two guys that worked in the healthcare M&A team and had decent exits:
C-suite of a notable MedTech start-up (think series B level, 100+ employees etc)
MM Healthcare PE firm in London
I've been told that the HC team is quite good there.
did the analyst exit into the c suite?
It was an Associate and yes, right to the C-suite
Solid reputation & dealflow. Not as much of a meatgrinder as a couple of its peers
Does anyone have info on what it’s strongest groups are and how they compare to other top groups on the street? Does PWP have any groups that place really well?
Also, someone mentioned the b-school pipeline. Is that actually true?
Think that PWP is on par with Moelis. EVR definitely > PWP in terms of PE exits. Would also consider size of firm versus size of deals. PWP is much, much smaller than Moelis or EVR in terms of # of analysts.
My impression is :
EVR / PJT / Centerview
Moelis / PWP / Lazard
Rothschild / Guggenheim
.
agree about all of that, but gugg/roths have a significant disadvantage save for a couple of coverage groups at gugg and rx at roths
I agree - the mass of prospects and college kids who repost ranks miss the reality which is that being at any of those shops (and more) will give you all the looks you need. The disparity in exits tend to be less on the firm name but more the quality of the analyst, which tend to be better at certain firms, as well as the deal flow and experience that the analyst gets which can then inform their interview and their overall finance knowledge.
Would you say people get looks from headhunters for MFs at firm like Greenhill as well?
Does anyone have perspective on which groups are considered their best?
In Ldn industrials longest standing franchise.. pretty slick deals look what they did where Elliott was involved.
They just launched a restructuring team in Ldn that has pretty good perspective as they hired top senior talent from GS RX and PJT. Also landed v good mandates in such a short time see Pizza Express. The only thing in this regard I have heard is that they want to do company / shareholder mandate exclusively as this makes sense given background of 2 Goldman bankers.
Healthcare & Rx
Anyone have any updates on PWP's recruiting? I heard they'll reach out shortly regarding interviews.
GS vs PJT? (both NYC) in terms of Exits/prestige/hours??
This is the completely wrong thread on which to be asking this question
BB:EB GS/MS : PJT, EVR, CVP JPM: LAZ, MOE, PWP BAML/Citi/CS/Barclays: Guggenheim/Greenhill UBS/DB: Rothschild, Jefferies, HL
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