Oaktree High Yield Bonds vs. Strategic Credit

Is the strategic credit group at Oaktree typically invest in credit that's "riskier" than HY bonds but "less risky" than distressed debt? Also, does anyone have insight into which group is more selective or how these groups are viewed when recruiting for IB? This is for the internship - will have to give my group preference to HR soon. Any insight would be greatly appreciated

 

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