Hi
With all the talk about boutiques eating up a larger share of the M&A market and beating the BBs in that, is this the same for advising on PE buy-side transactions. As boutiques only provide advice and no financing, are they able to compete with BBs on PE transactions? It seems as this is harder than for advising strategics, as how much do PE funds need intellectual advice, when they are probably anyways running their own model and only go to banks because they need financing? Curious to hear your thoughts...