I don’t know the specifics offhand, sorry. Most of the large banks have infrastructure groups, but it is a smaller group than ones like technology/TMT, industrials, healthcare, etc. Macquarie tends to be the one bank that’s quite strong in infrastructure but less so in other areas.

One question I have is which banks have infrastructure groups and what size are the groups? Is this a relatively niche area or a large one with many recuriting spots?

Thanks in advance!

Thanks for the suggestion, we would have to research that topic in detail and eventually write an updated version of this article.

They’re separate groups and tend not to work on the same deals due to conflicts of interest.

To what extend do Project Finance and Infrastructure IB work together

Yes, you could probably do that if you make the move quickly (within 1-2 years). It would be harder to move around once you’re already on the buy-side or in project finance.

Hi Brian,

Not sure if this is the right thread to post this question but, would it be possible to lateral back into the traditional M&A from an infrastructure investment gig at an IB? I read that infra is quite niche and once youre in youre gonna be pigeonholed in infra and the exit options are often limited to infra pe/pf.

Infrastructure PE is the obvious exit opportunity, maybe also Project Finance. Maybe also real estate and some energy-related PE firms.