Consumer Credit Funds (West-Coast Biased)

Based on the most helpful WSO content, consumer credit funds are indeed a niche area, and while they may not be as prominently discussed as other credit strategies, there are some insights to consider:

1. Goldman Sachs and Lending Club: While not exclusively consumer credit funds, these entities have been involved in consumer lending. Goldman Sachs, for instance, has ventured into consumer lending through platforms like Marcus. However, as noted in WSO discussions, there are concerns about pre-packaged securitizations of low-quality credits, so due diligence is key.

2. Direct Lending Funds: While not exclusively consumer-focused, some direct lending funds like HPS, Bain, KKR, and Apollo have significant market share in credit and lending. These funds may have exposure to consumer credit as part of their broader strategies.

3. Regional Players: On the West Coast, firms like Credit Suisse and Goldman Sachs have been highlighted for their strong leverage finance and principal investing businesses. While these are not strictly consumer credit funds, they may have relevant exposure or expertise in the space.

4. Smaller Niche Players: The consumer credit space might also be served by smaller, specialized funds or platforms that focus on syndicated loans or direct lending in this asset class. These players might not have the same visibility as larger funds but could be worth exploring.

If you're looking to transition into this space, networking with professionals in credit funds and leveraging platforms like WSO to identify niche players or opportunities would be a good starting point.

Sources: Credit - Pod Shop/MM vs. Distressed/Special Sits HF, Best direct lending shops in Asia, Undergraduate Opportunities - Credit Funds, BofA Wholsale Credit vs Credit Risk, Buy-side vs sell-side path to credit funds