Credit shops in LA with entry level/junior positions?
Recent grad working full time doing basic loan underwriting in LA after being unable to land a full-time gig at a buyside credit shop (no return offer in junior summer spot at a credit shop and banking industry went to shit last March when I started re-recruiting and all the firms I was interviewing with stopped hiring and stopped their processes). Initially wanted to go back to New York but now feeling like staying in LA for personal reasons. Can anyone point me in the direction of some credit shops that would hire analysts/have junior positions open? Wouldn't mind going in as a first-year analyst. I know big shops like Ares and Oaktree are a little harder to get into since they have a formal pipeline/recruiting process and I know PIMCO doesn't really hire first-years/juniors unless it's straight from their internship program.
Based on the most helpful WSO content, here are some insights into credit shops in LA that might have entry-level or junior positions:
Ares Management: While it's mentioned that Ares has a formal pipeline and recruiting process, it's still worth considering due to its strong presence in the direct lending and credit space. Persistence and networking could potentially open up opportunities even if the formal process seems rigid.
Oaktree Capital: Similar to Ares, Oaktree is known for its structured recruiting process. However, given your experience in loan underwriting and a previous junior summer spot at a credit shop, you might have a compelling story that could resonate with the hiring team.
PIMCO: As you've noted, PIMCO typically hires from their internship program, but it doesn't hurt to reach out to your network or alumni who work there to see if there are any openings or to get a referral.
Maranon Capital: Although not specifically mentioned in the context of LA, Maranon Capital is active in the credit market and could be a potential employer if they have a presence or connections in LA.
Antares: They offer summer internships and analyst programs, which could be a pathway into the company if they have operations in LA.
Goldman Sachs Specialty Lending: With offices in various cities, they might have opportunities in LA. They hire full-time analysts out of college, so it's worth checking if they have openings.
Networking is key in the finance industry, so leverage any connections you have, attend industry events, and consider reaching out to recruiters who specialize in the credit space. Also, keep an eye on job boards and company career pages for the latest postings. Given your experience and determination, you're well-positioned to make a compelling case for why you'd be a valuable addition to a credit shop in LA.
Sources: Most active credit shops in the market?, Most active credit shops in the market?, Undergraduate Opportunities - Credit Funds, Restructuring --> Direct Lending / Private Credit, Private Credit in LA
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