Tips for Breaking into Private Credit from IB - LevFin or M&A IB?
Hi all. Currently doing group placement at a respected MM bank for this summer and was curious about tips for breaking into a strong Private Credit fund down the line. It seems like the path to PE has a bunch of info on it but I am struggling to find info on PC.
I know that LevFin IB --> PC is the most common route, however, the bank I will be interning at has a stronger M&A team compared to LevFin since they handle the model on everything. I've seen some people on LinkedIn break into UMM PE from the M&A team but am not sure how this would translate to PC recruiting. Is M&A --> PC still feasible or would it be better to start in the LevFin group and then maybe try to lateral to a stronger LevFin team later on? Also curious on the feasibility of coverage IB --> PC. Would appreciate any thoughts!
Based on the most helpful WSO content, breaking into Private Credit (PC) from Investment Banking (IB) is indeed a path many professionals consider. While the context provided doesn't specifically address the transition from IB to PC, we can infer some useful strategies based on the general advice for moving into high finance roles, such as Private Equity (PE), which shares similarities with PC in terms of skill sets and recruiting processes.
Understanding the Role of LevFin and M&A in PC Recruiting:
Lateral Moves Within IB:
Coverage IB to PC:
Networking and Skill Development:
Showcasing Relevant Experience:
In conclusion, while LevFin is a more traditional path to PC, transitioning from M&A or a coverage group is still feasible with the right strategy and skill set. Focus on building relevant skills, networking within the industry, and positioning your IB experience as a strong foundation for a career in Private Credit.
Sources: Breaking into Private Equity from Banking, https://www.wallstreetoasis.com/forum/investment-banking/breaking-into-private-equity-from-banking?customgpt=1
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