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Thoughts on MMF
Posting anonymously but I've spent most of my career doing distressed credit/special situations/high yield at funds with more long-term locked up capital (think of the likes as a Oaktree, SVP, Monarch, Redwood but on the smaller side). Have an offer from a smaller/lower tier MMF (think Verition,...
How to move to a larger Special Sit. / Distressed Debt Fund?
For background, I'm working at a 1st time MM Distressed and Special Sits Fund. Associate 3 currently and likely to be promoted to VP this year. Joined the fund straight after MBA and I wanted to explore opportunities at a larger fund now. Any guidance on how to begin the process? Which recruiters...
Tech IB exits to Special Sits / Distressed / Private Credit
Currently a 1st year analyst at a mid BB tech coverage group. Not particularly interested in traditional PE or growth equity but have developed a fair amount of interest in special situations and distressed private investing. Understand that these funds tend to invest in non-tech sectors. Is this a...
Special Sits / Credit Interviews
I'm in the process of gearing up for a few interview processes with a couple special sits and credit shops. Anybody have any info on what these processes look like - specifically, what types of interview questions did you get, what did model tests look like, etc.?
Top Special Sits Shop Interview Process
Hey folks, I work at a top RX group and will start applying to special sits shops in no time. I would like to get info on the interview process of special sits groups of shops like Apollo, Soros, SVP, Oaktree and such. I am particularly curious about the modeling tests at this groups. What do they...
Morgan Stanley Tactical Value
Does anyone have any good info on Morgan Stanley Tactical Value? Are they legit? I'm an associate at a buyout fund, but have been thinking about lateralling to a fund with a broader mandate and these guys keep coming up. They are currently investing out of their first fund (4 or 5 years old) and are...
Meeting with principal at special sits fund - need advice
Hi monkeys, hope you are all having a good day and thanks for clicking and reading. To keep it short, I'm a final year ug who worked as a SA in a MF last summer but did not convert. I have a lunch with a principal of a new special situations fund who has a background in VC - presumably the fund is...
Any insights into Bain Capital Corporate Special Sits team
Hi everyone Curious to hear about Bain Capital Corporate Special Sits / Distressed franchise (mandate, culture, track-record, etc), especially in London Understand mandate is broad, typically include loan to own, minorities, pull to par, pure PE plays, even long equities Also know they have several...
Special Situations M&A / Distressed M&A thoughts?
What are people's thoughts on joining a Special Situations M&A / Distressed M&A team at Banks / Boutiques? The current global environment is heading towards a recession and good book M&A activity is likely to reduce so I was wondering what people think of joining a company like Alvarez and Marsal,...
High-yield, Distressed Debt, and Special Situations Groups
Does anyone know who the most well-regarded High-yield/ distressed debt/ special situations groups are on the street? I know that Oaktree, Centerbridge, and Angelo Gordon all have very strong teams and track records. Who else am I missing?
Distressed/Special Sits/Event-driven research resources (e.g., Bloomberg)
For those in distressed/special sits/event-driven, other than Bloomberg, are there any other research resources that you currently use frequently or like to use at some point?
[Help Needed] Case Study w/ Special Situations / Distressed Generalist
All: I have been prepping for a case study this weekend and could use a hand in how to best approach the material. There was no prior context given for the case study so am going solely on the focus area of the HF. Issue is, they do everything across the capital structure both private and public -...
RX Experience
Rising sophomore looking for a chance to gain relevant experience during the summer of 2023. I will be applying to RX SA roles for my junior summer in 2024. Any advice on where to look is appreciated.
Private Credit Fund (alternative investments) Role?
I am working with a recruiter on private equity associate roles, come from corporate dev buy-side, they presented this role today and specifically mentioned they were interested in my background. The firm perform is focused on private credit and special opportunity investments: Responsibilities...
Special Situations Investing (CRE)
Hi everyone, So before I get monkey shit on my first ever post (after lurking for the past few years) I want to preface this by saying I have researched across this forum, Linkedin, various company websites, and private databases before posting. It would be appreciated if you could share your...
Exit Opps from Top Special Situations / Opportunistic Funds
Where do associates at top funds (Apollo Hybrid Value, Blackstone Tactical Opportunities, Sixth Street, Oaktree) typically exit to? What sort of options do they have given the unique associate experience they will have? Does this type of investing open up more options given it can take so many forms...
Can someone shed some light on Distressed/Special Sits funds?
Currently thinking about where exactly I want to recruit, and distressed/special sits/event driven stuff seems really interesting to me. There's honestly not much on this site about how day-to-day life is at some of these funds, so if someone could shed some light on these funds, that would be...
Special Sits, Event Driven Shops - London
Hey all, looking to get names of Special Sits, Event driven shops in London. Happy to get all names (instead of just big name / well known shops). Will be looking to recruit from an M&A seat (not RX).
For Distressed/Special Sits - which group is better? GS TMT vs. 2nd Tier RX
Yes, it's another question about exit opps. For those who's interested in distressed credit/pe/special sits, GS TMT (or any other top groups in BB that are known to attract top talents for top exits to buyside) vs. non-PJT/Laz restructuring group (more relevant experience but less known for top...
Sector coverage to Special Sits
Hi all, Was wondering whether anyone could give me some advice on how I could break into special sits investing in the UK. Background - Associate 1 at an EB - sector coverage, have done a couple of buy-sides where I also did a bit of the debt modeling / RES RAS decks. Have also done sell-sides....
Thoughts on Beach Point Capital
Anyone have any insights into Beach Point, deal flow, culture, returns, etc. Mostly interested on the distressed debt side
Bain Capital Credit - Distressed
I was wondering if anyone had experience with Bain Capital Credit’s Distressed arm. What types of deals have they done, are they looking to make control investments, what’s the culture of the team, and how does associate recruiting differ for distressed credit versus PE at Bain (specifically...
SOLIC Capital
SOLIC Capital Advisors, LLC (“SCA”) is a leading specialty investment bank providing merger & acquisition, restructuring, capital placement and valuation advisory services to companies, lenders, institutional investors, the legal community and other creditor constituencies. SCA is a subsidiary...
Analyzing Credit Fund Investing Opportunities
Recently came across a role (missed the boat on the application) that was focused on credit fund investments throughout various strategies (private lending, distressed, special situations). The role entails investing in credit funds, meeting with fund managers, diligence on credit fund strategy,...
Special Situations Credit Products
Hi all, I would like to understand a bit more about the Special Situations credit investing. I am located in London but any input on below from either European aor US perspective would be much appreciated. - what sort of debt product are prevalent, what are coupon levels? - what are common...
Exodus at BX TacOpps?
Anyone notice a recent exodus at BX TacOpps lately? Have heard a bunch of people have left recently, performance hasn't been great, their next fund will be smaller in size, internal politics around sharing deals across funds. What's going on there?
Special Sits HFs
Anybody have any insight into the best and most reputable Special Sits HFs/PE shops. If not, just a list of SS funds. Are most just a part of the major distressed players? A few Google searches haven't yielded much on my end. Also curious to the difference in structure/strategy of Special Sits HF vs...
Special Situations Exit Opps
For anyone doing Special Situations or knows about the situation, how do the exit opps usually work? I'm looking to understand what alternatives I would have if I end up not liking the firm or strategy I join. Would it be just lateraling to other special sits funds (which are pretty limited) or...
Resources for special sits
Hi, I am transitioning into special sits, and the fund invests both in equities and debts. I am coming from fundamental LO and have read Y ou Can Be a Stock Market Genius , Distressed Debt Analysis (Moyer), The Art of Distressed M&A , etc. Are there any other books, funds, or blogs where I can learn...
Depth of Due Diligence in Special Sits
How deep/important is the company/industry fundamental due diligence in special sits investing (on top of analyzing the special situation itself)? More interested in understanding the equity side, but any insights on the debt side would be appreciated.
Funds investing in companies with litigation risks
Hi, Are there any funds that invest in (potentially undervalued) companies with litigation risks or in litigations? Thanks!
Which hedge funds are TRULY capital structure agnostic?
I know a lot of funds that invest in both debt and equity securities, but most have separate teams (I.e Elliott). And then there’s special sits funds that will often structure deals with equity upside and things like that, but is there a list of hedge funds that are truly generalist across the...
Book Recommendation: Event Driven
Hi, can anyone recommend decent and relevant books on event-driven/special situations? I am coming from LO and I will be working mostly on equities. I read you can be a stock market genius. Would greatly appreicate any suggestions!
J.P. Morgan Global Special Situations Group
Anyone have any info on this team? Interested to learn where on the risk/reward spectrum they invest (or plan to), what investments (if any) they've made so far, how large the group is, how JPM in general is regarded in the alternatives space, and any other info you have. Also, what do the exit opps...
Special Situations coming?
Came across an article about AM and private equity firms raising money to go after distressed European companies. I remember last year Elliot Managemt was growing a war chart for similar situations, I think it was $4B if I’m correct. What really caught my attention was KKR, Pimco and JP Morgan...
Please Advise: Never-Ending Job Hunt
I’ve been sitting on this post for a while. I was waiting for it to turn into a success story; started-from-the-bottom-now-we’re-here kind of story. But it’s been so long I’m going to post it anyway. ###My Background: Finance degree from non-target, super involved on campus,...
Special Situations - Oaktree
Hi everyone - I’m looking for some additional information for Oaktree’s special situations fund. They recently raised $2.3bn and make control debt and equity investments. Typical investment mandate for special situations (distressed, generalist, etc.) Does anybody know if: 1) It is a 2-3 and out...
Does one need to be particularly good at math to work at a credit hedge fund?
I've got to decide which direction I'm going to take, & when it comes to hedge funds, I'm most interested in things that fall under the credit side--special situations, distressed debt, & activism (I know that's not exclusively, or even primarily credit). I have a decent understanding of...
Direct Lending --> Distressed/Special Situations Investing
Hey guys, I've been interested in distressed / special situations investing for over a year now, did an RX banking internship this last summer and didn't get a return offer, decided to post-pone a year to recruit for summer internships again. Given the accelerated nature of summer recruiting, I...
Top firms for distressed investing. Solving for brand and deal experience more than ability to growth within the organization.
I am interested in identifying a list of the top 20-30 distressed debt / special situations groups on the street. I am industry and geography agnostic. I am solving for: (1) learning outcomes, (2) compensation (3) prestige. I am less concerned about (1) ability to grow within the organization (two...
Cowen Special Situations Group Reputation
Anybody heard of them or know anything about the group in terms of reputation, work type and exit opportunities?
Carlyle Distressed/Special Situations
Does anyone have any insight on this group? There seems to be little to no information out there apart from their website. Topics of interest include mandate, performance, comp, hours, etc.
MF Distressed PE/HF Recruitment
While everyone is obviously aware of the MF PE recruiting timeline, does the same go for groups that do distressed/special situations within these firms? What about distressed HFs? I'm referring to groups such as BX Tac Opps, Ares Spec Situations, KKR Special Situations, Oaktree, GSO Distressed,...
Managing AUM less then 100M
Chaplin Capital’s investment strategy is event-driven and value-oriented, specializing in the identification and analysis of securities likely to experience a change in value resulting from market catalysts. The firm’s investment activities may be classified under three strategies: • Merger...
Distressed / Special Situations Firms... East Coast Preference
Guys/Gals I know that there is a post from a long time ago but felt that given where we are in the cycle it would be good to began a new updated list of buy side PE (or hedge) and sell side/advisory firms that specialize in special situations, distressed debt, and restructuring investment or...
Special Situations Investing Material
Anyone come across materials that would be helpful in understanding "special situation" or structured credit investing? Any help would be greatly appreciated here
Special Sits PE Case Study Example
The webinar for this case is TODAY, July 6th, at 5:00pm EDT. If you miss it, it will be replayed for free on the homepage on August 6th Even though recruiting season is not necessarily around the corner, I thought I'd share the below with the community. If anyone has a case study/modelling test...
Special Situations Group
Does anyone have any info about hours in the Special Situations Group? Other relevant info is also appreciated.
What do you know about TPG Real Estate Finance Trust?
TPG REal Estate announced on Jan 9, 2015 the acquisition of a 75% stake in a $2.5B portfolio of high-yield RE loans from Deutsche Special Sits Group (Deutsche retained 25%). Looks like 11 professionals from DB's Special Sits Group joined a newly-created mortgage REIT (TPG Real Estate Finance Trust)....
HOW DO I DO CHANNEL CHECKS??
I'm a senior in college who has been managing a small PA for the past couple years. I adhere to a deep value/special situations strategy. While I'm not a big fan of getting on the phone and speaking with people I don't know, I always make it part of my due-diligence process to speak with management...
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