How does CHI vs NYC exits compare for HL specifically for Rx. 3.8+ from H/Y/P but from chi. I don't care at all about PE exits, goal is to work at a distressed HF. Would HL RX CHI limit exits? I figure its less competitive than NYC, and I am agnostic about location. Would rather increase chances at an offer.
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Know people who have worked at both groups. HL RX CHI generally has much weaker PE exits than HL NYC RX but we're talking about distressed. Distressed will still be weaker but very easily doable. Maybe you might struggle with one or two snobby firms but the vast majority will give you a fair shot. Have seen a couple kids go to Oaktree from that office. Many distressed funds have recently struggled to find interested junior talent, and scramble over RX kids, even from tier 2 locations. You will be able to land a good distressed offer. That said, HL RX Chi is not going to be as "prestigious" as PJT RSSG, EVR RX, or HL RX NY, and I would not expect the same overall opportunities. I would also advise against being committed to distressed so early on. Puts and takes to everything.
You're just a freshman so take a step back and live your life. It'll be over before you know it.
Agreed on the last point btt it trying to get on the ball if they move up processes into dec/Jan given how early things were this year.
Any view how you would compare HL Chi vs HLLA, and also Tier 2/3 NYC shops (gugg/duc/ghl)? Obviously I’m gonna try my hand at PJT/EVR, but I’m looking to focus networking at anywhere that gives good credit HF exits. I’m quite sure I do not want PE.
For PE exits I think PWP/GHL RX NY would be better. For distressed exits, I think you will be placed in the same candidate bucket as those firms.
Same for MN/Dal offices?
HL MN/DAL RX will have worse exits.
IMO its NYC > LA/CHI > MN/DAL. Have anecdotally heard those HL satellite RX offices are not supportive of buyside recruiting so due to their isolated geography and lack of MDs helping you recruit, it's tough to get a great buyside offer. That said, there is a heavy distressed presence in MN and decent finance presence in DAL.
I'd say that for buyside exits, only Perella and Greenhill RX would be better than HL RX CHI/LA. Guggenheim and Ducera, while doing great in the RX space, have less of an established buyside pipeline. Regardless, all these shops are more or less in the same tier so I would go with the place where you feel most comfortable at
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