Would greatly appreciate any insight into the firm’s culture, comp, “prestige,” and exits. Seems like a really interesting shop – they were involved in the Argentine debt crisis. Just not a lot of info out there, so was curious as to general perceptions of the firm. Thanks!
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Lol. Boy do I have a story about this shop
Haha interesting… mind if I PM? I’m curious lol
Also curious, is this a macro hf?
Come on man spill that ☕
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Man that argentina play was simply devious and brilliant.. Bracebridge bought their bonds for 120m, returning 1.1B to them upon settlement
yup a pretty legendary deal
Highly respected but under-the-radar FI shop. Ran into them on a few restructurings back in the Rx days, and can testify that they're all generally very sharp. Seems to be an ivy-only investment team for the most part, and have heard that the culture is somewhat academic but you can comfortably avoid the toxicity of MMs. Overall, really great place to start out of UG, people in the HF space will know who you are, can't necessary say the same for non-HF people since they're actively low-profile. In terms of exits, I've seen one or two at my firm (big distressed HF) and some other macro funds, but most people I've met from Brcap seem very content with where they're at.
For the sake of transparency, I did RX in the states for 2 years and have since moved to L/S credit, but in my time in RX, we saw Bracebridge on one engagement. Believe they’re much more focused on liquid credit / structured products and fall under the “quantamental” bucket, so not your usual suspect in distressed cap stacks these days like the SPC / Monarch / DKs of the world. Would not recommend this as a first choice for anyone interested in public distressed.
Agreed that they tend to hire mathematically inclined folks, with a preference for the NE ivies. Personally, didn’t see any interest among my old RX class or analysts from similar shops but think that’s a function of their tending to hire out of undergrad. Good shop but seems candidates out of UG use their internship as a jumping off point for RX / other credit HFs.
May be worth deleting the 2024 SA posts before saying things like “in my time in RX”…
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