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Lincoln International Europe
Hi everyone, curious to know how Lincoln International is positioned in Europe, more specifically London (and also the Benelux). Main points of interest here are: 1. Culture 2. Comp 3. Strongest groups and their deal flow 4. Exits or lateraling opportunities to EB/BB Compared to players like William...
Books to prepare for switch from M&A to PE
Can anyone recommend some books for making the switch from M&A to PE? I find that I'm getting interest from PE firms because of my M&A experience but when I have an interview I don't know enough about PE to get the job, specifically LBOs. I was looking at buying Investment Banking: Valuation,...
Usefullness of MBA in the M&A career path
I work as an M&A analyst for an EB in Brazil and want to know how usefull is doing an MBA to become a better professional in this field. I'm not willing to work for another company, just be better where I'm now. I'm already taking CFA so I'm not thinking about developing technical skills in an MBA...
Q&A: Vice President - European BB Investment Banking (Industrials)
Open to questions of any nature related to Investment Banking / Advisory fields as well as general finance industry. Background: - BS in Mathematics (Russia) - MA in Economics (Russia) - 6 months in leading Russian, state-owned investment bank - 8 years in European Bulge Bracket bank, including...
Morgan Stanley to buy Eaton Vance in huge deal
Wow, looks like MSIM will try to compete with Vanguard and BlackRock and they were willing to pay quite a premium to do so. This pushes AUM to over $1Tn. Thoughts on this deal? Where does this place MSIM in the AM space? Will this have any effect on new hires/internships?
How should I approach networking in IB by questioning about a recent deal?
Recently, I am doing an M&A analysis on the LVMH / Tiffany acquisition. While going through SEC filings, IR press releases etc. some questions about the deal arose which I think could be helpful for myself to start networking with people from the firms who are advising LMVH and Tiffany & Co....
Top Bulge Bracket TMT groups?
I am at a mid-tier BB looking to lateral to another BB with a very strong TMT group. Currently in a great retail group but am staying on A2A and looking to change sectors. From research i've done it seems like this is the consensus in terms of deal flow (M&A) and street reputation. 1.) GS 2.) JPM/MS...
Lazard M&A vs. PJT Strategic Advisory (M&A) - Summer Analyst
How do you value each firm under the parameters (in order) of: a) Exit Opps, b) M&A Experience, c) Power of brand within the Financial world .
Proptech to CRE/REPE
Hello Everyone, I was laid off from my Analyst-I role at a Tech-focused boutique where I had been working for about 10 months. Dealflow had dried up and the pandemic gave them a reason to lay off about 20% of their workforce. After multiple interviews and hiring freezes in the last five months, I...
Please share the best ways to Ace an IB Interview. Study guides? Tips?
Please share the best way to Ace an IB M&A interview. As an engineer, so I do not have much exposure to Finance. Please share the best guides/sets that can help you learn in depth concepts/financial modeling and succeed at an interview?
Can someone provide me any Insight on Valtari M&A in London?
I am in a recruitment process for a Junior analyst position in M&A at Valtari in the London office. Does anyone know how it the culture, the salaries, the hours and the deal flow at Valtari in London. I reckon I know between very little and nothing about the company. Thanks.
Tinder for M&A???
So there's an app which "matches" companies for M&A .... Surely no companies would put actual data on the app..... isn't this game theory 101 esp. when competitors are also on the platform... Well... unless the analysts have to do the DD themselves? I can't post any link but Google...
Working in M&A / Advisory / Investment Banking
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Advice on career and the switch into investment banking
Hello everyone, I have browsed this site on and off for the past few years (thanks for all of the insight everyone) and now the time has come where I want to make the most out of it. I'll try to make this short and sweet, so I will get right to it. I have two main goals here: 1) quick...
Law to Finance
TLDR: Law student at top school with no background in finance interested in learning whether lateraling in may be an option after some time in biglaw. Hey everyone! Just finished my first year of law school and am about to start a summer associateship at a V10 firm. I’ll be working on the...
Tax and structuring in an M&A deal
Hi guys, I have a few questions pertaining to Working capital and taxes. Hope you can help out! - how do you deal with a situation where seller has a few large multi year prepaid transactions in the pipeline, most to close around same time as M&A signing? - how do you check if target company is...
Can I transition from restructuring to regular private equity?
Hey everybody, I currently work in the M&A group at a respectable boutique, but have the option to switch to the restructuring group given the current market situation. I find restructuring more interesting than M&A , but ultimately know that I want to go into PE; outside of firms like Apollo that...
Top A&D groups
Hey guys, prospective intern here interested in Aerospace & Defense IB . Wanted to ask if anyone had any knowledge on which banks are generally considered top in the A&D space. Thanks!
Thoughts: Okay to remove GPA from resume once graduating undergrad?
I have heard mixed thoughts on this from senior people. Some seem to say they don't care about your GPA once you have interned at a firm/got the job...and it should not be included on your resume after you graduate...some say it should be included on your resume after you graduate? There is no...
Top Healthcare Groups for exposure (overall)? (NYC)
Hi, hoping to see if anyone has insight or access to information that sheds insight on the top healthcare groups on the street? Are there certain firms that outperform in this area over others? I understand there are various verticals and sectors in Healthcare and some firms may outperform others in...
If you are staying banking a-> as-> vp-> md when does firm/group make an impact in compensation?
Everyone is always so concerned about group prestige and firm prestige, this seems to stem largely from an eagerness to move over to the buy-side and get into a top firm/ MF etc... If you are an individual who wants to stay in banking when does your firm and group "prestige" on the street start to...
TMT IB M&A BB vs. Healthcare IB M&A BB?
Both industries are interesting and have a lot of developments happening within them. I know that Technology and Healthcare go hand in hand often - does this mean that the Healthcare group will cover a healthcare technology company or would that be covered by the Technology group, does anyone have...
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Normal level of detail in models?
Hi all - I work in a small boutique that mainly advises on buyside M&A in the middle market. Currently in the midst of PE recruiting, and obviously reviewing my models as a result. I've come to realize that our models are....well kinda shit and all very high-level. For example, when we evaluate CIMs...
M&A transaction and Capitalising Interco loans
I have some questions about M&A for minority stakes and intercompany loans. Posting in the IB forum as it draws the most views and it's a M&A tropic. Overview: A company is selling a minority stake (up to 49%) of itself (EV of 500m). EBITDA of 50m and FCF of 40m. However, this company has an interco...
Duff & Phelps Associate Interview
Does anyone know if Duff & Phelps typically gives candidates modeling tests and if so what kind (i.e. DCF , three statement model, LBO , etc.)? Any insight would be helpful.
Law to TMT M&A -- ideal time to switch
What are elephants and zebras? What are elephants and zebras? What are elephants and zebras? What are elephants and zebras? What are elephants and zebras?
2014-2019 U.S. Energy M&A League Table
Hi all, I have been interested in energy for a while now but have not been able to dig up a consensus on deal flow and relative strength of the different banks. Took a brief dive into my school Bloomberg and below is what I found. Focused on purely M&A as capital markets are currently in a slump....
Centerview Partners Offers
I had a series of interviews with Centerview in September, and I think they went alright. It was my first real IB interview (got into some legal trouble) so I was still trying to get a feel for what the interview process was like. After the first set of interviews (behavioral and technical), I got a...
Introduction & Request for Advice
Hello all! I am currently a graduate student working towards my master’s degree (specifically, an M.A. in something akin to strategic management) from a target school while working a full time job in the tech space. I have become increasingly interested in the finance industry, particularly...
Investment banking knowledge
I want to learn about investment banking knowledge such as Mergers and Acquisition etc. How can i learn that.
Cannabis Investment Banking
Wanted to know whawhat everyone's thoughts were on IB in the cannabis sector? Would working within a bank covering this group pigeon hole you and make moving into another sector group later difficult? I would think you would still be able to get into a consumer/retail group from there.
Best firms for moving internally
Hey! I was wondering if there are any firms (BB, EB ,MM) that are more friendly than others when it comes to moving internally. For example going from m&a office in London to m&a office in NYC
Preston Todd Advisors
Preston Todd Advisors specializes in providing strategic advisory services in integrated payments, SaaS, and financial technologies. We design and implement forward looking acquisition strategies for companies trying to navigate the ongoing paradigm shift in digital payments. Approaching 15 years of...
BAML PSD M&A Analyst
Hello, I am a current analyst at a boutique bank. I am interested in joining a BB hopefully and i've had my eyes on a particular job at BAML , the title is PSD, M&A analyst. not really sure what the psd is but I do want to get into M&A . however, the job posting has been up for about three months. i...
Accretion/dilution question with regards to amount of debt used and interest rates
I recently read that if the percentage of EPS accretion/dilution is constant and if you change how you finance the deal (i.e. less debt or more debt used), your interest rate doesn't need to change either. How does that work? The math behind it works perfectly as well but I just wanted to know an...
M&A deal activity in lower middle market
I am considering an M&A advisor / broker position with a firm focused on the lower middle market and even the upper end of the SMB space. ($2M - $30M in revenue). How much deal flow and competition for deals are people seeing in this market segment? I've been told by some that most M&A firms will...
HL NYC v. Jefferies NYC (M&A)
I know there are literally dozens of posts comparing one bank to another, but I wanted to hear the current comparisons between these two in particular. I've heard that Jefferies is known for their Healthcare and Energy groups, while HL has one of the best RX groups on the street, but how are their...
MS M&A vs. MS Tech M&A
Looking to clear something up--there's a lot of hype surrounding MS M&A (rightly so), and somewhat less hype surrounding MS Tech in Menlo. When people refer to MS Tech M&A (in Menlo), does that fall under the general M&A group? Thx Edit: if M&A is separate from Menlo Tech M&A , does the general M&A...
Can you use your target company's own cash to fund a leveraged buyout?
I am looking at this M&A model, and it says that a certain percentage of the cash used in the leverage buyout is coming from the target companies own balance sheet. What is the logic behind this? How can you use a company's own money to buy itself?
Can someone help me understand what a few things represent in this M&A model?
I am trying to understand this model, but there are a few components for which i am not sure what the values are supposed to represent. I'll just attach a screenshot of the model with the parts I don't understand circled in red. I can also send you the excel file if this would make answering the...
C-Corp Asset Sale
I have a sell side client who is a c-corp, we have a number of bids but all are only for an asset sale, stock sale isn't an option. I get why our client wants a stock sale vs. an asset sale but the buyers won't move on that. From a high level, are there any creative structures to get out of this?
Modelling test at MM Boutique
Hello fine folk of WSO , I have a modelling test coming up for a MM boutique and I was hoping for some advice around what to expect given the context. The process is 90 minutes but I haven´t been given any more info on what to expect. It´s for an infrastructure M&A role. I have good modelling...
Are we in a new Family Office bubble?
Maybe I'm just cynical, but at my MM , we have rarely seen family offices compete for deals in auctions and it seems there are more and more being formed weekly, if not daily. I'm astounded at how much capital is now going into the market to try and compete with traditional PE and strategics,...
What are your go to news sources: Twitter? PE Hub? PEI?
I have recently become obsessed with learning as much as I can about the industry. Learning, Learning, Learning. Want to make the most of it while this productive animal inside me lasts. What are your go to news sources? I have been debating getting a subscription to PE Hub or PEI - can only afford...
DealRoom - Virtual Data Room & Project Management Software for Agile M&A
One of the best virtual data rooms in the US market is DealRoom. We have reasonable prices, responsible managers, pleasant discounts, and the most important is the number of services that we provide.
Accept Sales Internship at BB even when wanting to move into M&A?
Hi guys, I'm a masters student at a European target school and have a gap year coming up. Got these 6-months opportunities for the first half: 1) Got a BB Structured Products Sales offer in Frankfurt 2) Got M&A at a dutch bank (midsized) in Amsterdam 3) Have a Restructuring Offer at a Big4 (mainly...
Renewable Energy to Investment Banking
Hi all, Been a long time user here and need your inputs, I am currently working as an investment analyst for a mid-sized fund based in Canada that invests primarily in renewable energy assets (solar, wind, biomass, various different forms of flexible capacity). My main responsibilities are running...
21, Studying Finance, can't seem to choose between AM and M&A
Hello everyone. I'm 21, following a master degree in finance in a pretty good business school in France. I'm also a CFA level 1 candidate, since my school has a partnership with the CFA institute, I thought it would be good to leave the school with CFA level II(if everything goes well) I'll also...
option to purchase
Hi guys, We are looking at making an investment in a promising company which could become quite strategic for us in the future. At the moment we are looking at making an equity investment and we could consider an option to purchase. Where could I get some information on how to price & structure the...
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