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You’ll also see a fair number of deals in the financial sponsors group due to the many sovereign wealth funds in the region. Many people would say that the elite boutiques – specifically, Moelis and Rothschild – are the top banks in the region based on deal activity, business model, and overall experience. are much less active.
Some argue that GE offers the best of both worlds: the opportunity to fund innovation and growth – as in venture capital – plus the ability to limit downside risk and invest in proven companies – as in private equity. Many of these firms use debt to fund deals, and they complete bolt-on acquisitions for portfolio companies.
You probably won’t be able to get a “real” IB internship, but you can find some good alternatives: Search fund internships. Internships at regional boutique banks. Smaller firms tend to be a bit slower, so you could find some middle-market and boutique openings, even if the bigger banks are done. Wealth management.
You will very rarely get exposed to the type of financial modeling that bankers complete: 3-statement models , DCF models , M&A models , LBO models , and so on. As you advance, your exit opportunities narrow because PE firms and hedge funds don’t want to pay for expensive VPs or Directors with no direct investing experience.
Note that while Leveraged Finance is technically in “capital markets,” it is closer to groups like M&A because most of the work relates to funding for acquisitions and leveraged buyouts. If you want a long-term finance career (stay in banking or switch to private equity, corporate development, hedge funds, etc.),
Valuation , such as the different multiples used for mining companies and the NAV model in place of the DCF (see below). To value it, we build a standard DCF based on production volumes, CapEx to drive capacity, and assumed steel prices: The valuation multiples are also standard (TEV / Revenue, TEV / EBITDA, and P / E).
Equity research recruiting tends to be less structured, though the bulge bracket banks and elite boutiques still run traditional processes that start over a year before summer internships. public markets roles ( hedge funds , asset management , etc.), and areas like corporate finance or strategy at normal companies.
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