Private Credit Groups in BBs
Greetings fellow monkeys and non-monkeys, I am looking to gather some information regarding Private Credit arms of BBs.
I am aware that GS and MS have small teams that do DL or more junior financing, but I haven't heard much about other BBs (Citi, DB, JPM, BoA).
- Do they have their own PC teams as well? Do they mostly do DL or they cover the entire capital structure?
- How does the work differ there from for instance a PC fund?
- Is it doable joining them as a Junior Analyst?
Any information would be greatly appreciated!
Great day
Based on the WSO Dataset, while Goldman Sachs (GS) and Morgan Stanley (MS) are known to have smaller teams focusing on direct lending (DL) and junior financing, the presence and structure of Private Credit (PC) teams at other bulge bracket banks like Citi, Deutsche Bank (DB), JPMorgan (JPM), and Bank of America (BoA) can vary. Here’s a breakdown of what you might expect:
Presence of PC Teams at Other BBs:
Coverage and Focus:
Work Difference Compared to PC Funds:
Joining as a Junior Analyst:
For more specific insights, consider networking with professionals currently working in these banks' PC teams or participating in relevant discussions and Q&A sessions on platforms like Wall Street Oasis. This can provide you with up-to-date and bank-specific information.
Sources: Q&A : Credit (DL, SSG), Senior Comp at MF PC, Q&A: 30 Year-Old Breaking In, Part II - From tiny M&A boutique to Distressed Debt, Q&A: Mega Fund Associate - Asia Pacific Edition, Q&A : Credit (DL, SSG)
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