Acquisition Financing IB/CIB
Posted on the IB thread but felt it may be more applicable here.
What are the thoughts on Acquisition Financing groups? I see Credit Agricole CLF, BMO Leveraged Lending, Truist CLF groups. Are there any other ones like this at other banks? What is the normal comp and hours and bonus? Are most exits to other credit groups/capital markets/private credit?
Acquisition Financing groups, as highlighted in the WSO content, typically focus on providing financing solutions for acquisitions, often involving leveraged credit underwriting or bridge financing. These groups are distinct from traditional LevFin or M&A groups and are often housed within credit or corporate banking divisions at certain banks.
Notable Banks with Acquisition Financing Groups:
Compensation, Hours, and Bonus:
While specific figures for comp and bonus aren't detailed in the WSO content, these groups generally align more closely with credit/corporate banking compensation structures rather than traditional investment banking. This means: - Base Salary: Likely lower than IB counterparts. - Bonus: Typically less aggressive compared to IB product groups like LevFin or M&A. - Hours: Tend to be more manageable than IB, with fewer late nights and weekend work.
Exit Opportunities:
Exits from Acquisition Financing groups are often directed toward: 1. Other Credit Groups: Such as leveraged loans or high-yield credit. 2. Capital Markets: Including debt capital markets (DCM). 3. Private Credit: A popular exit for those with experience in acquisition financing and leveraged lending.
These groups provide solid exposure to credit underwriting and structuring, which can be valuable for transitioning into buy-side credit roles or other capital markets positions.
Sources: Credit Analyst Q&A, https://www.wallstreetoasis.com/forum/private-equity/liquid-credit-leveraged-loans-high-yield-groups?customgpt=1, Undergraduate Opportunities - Credit Funds, Product Groups (LevFin, SPG, DCM) Comp 2021, A Warning on the Wells Fargo Securities Investment Banking Summer Analyst Program
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