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Specifically, privateequity is not feasible from most ECM or DCM teams, hedge funds are also challenging, venture capital is a stretch, and you won’t have the right skills for corporate development. Again, LevFin is the exception and provides realistic exits into privateequity, direct lending , mezzanine , etc.).
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. Think: benchmarking portfolios rather than modeling companies. As with the job itself, the theme is breadth over depth.
Equity research recruiting tends to be less structured, though the bulgebracket banks and elite boutiques still run traditional processes that start over a year before summer internships. Interviews Investment banking interviews test broader topics, but equity research interviews tend to go more in-depth into narrower subjects.
bulge-bracket banks , such as JPM, GS, MS, and Citi, always rank well in the league tables. The other bulgebrackets (BofA, Barclays, UBS, and DB) tend to rank lower, but this varies each year. I’ll back this up by citing Capital IQ data about the number of firms in different regions: PrivateEquity Firms: S.:
Admittedly, not all banks did this, and many bulgebracket firms will start in the normal time frame of January – March. Internships at local venture capital or privateequity firms. bulgebrackets (well, except for RBC). Internships at regional boutique banks. Wealth management. Corporate banking.
Sovereign Wealth Fund Strategies Sovereign wealth funds can invest in almost anything, from equities to fixed income to real estate, infrastructure, privateequity, hedge funds, and more. So, your best option in most cases is to gain traditional investment banking or privateequity experience and use that to move in.
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