Credit/Distressed Debt Soph SA Roles?
Rising Sophomore interested in credit roles. Still want to go to restructuring first before going back to credit, but I was wondering if there are any shops that take sophomores for credit or preferably distressed debt.
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Will apply. Any other ideas/thoughts
Certares, knighthead.....
Is there a list I can find/research a list? Also do you have any advice on technical prep?
Pm me
MSD is not distressed focused but still a great brand name
Certares is a travel leisure focused PE shop – they were just involved in distressed situations bc of covid
Knighthead doesn’t take investment interns through regular pipelines
The best/well known option for you OP is to apply for BB S&T and try to place into the distressed or high yield desks. Not really a “distressed investing” role but those desks always get few names into distressed situations and have to play along with the funds that you are more familiar with.
BofA, CS and Barclays have strong exposure to this type of situation where they don’t “sell out” after their holdings tank and may get their feet wet before deciding to pull out.
By the way, BB S&T is more known for taking sophomores than IBD I would say. Good luck! Feel free to drop in this chat with any wuestions tban
Hmm I see. I guess I will shoot for some soph S&T programs. I was wondering how is S&T recruiting different than ibd recruiting in terms of technicals. I was wondering would DD HF like caspian be a viable option?
Also do you have any advice for studying for case study hedge funds give out?
IMO, S&T easiest / best spot for this as a sophomore summer
Isnt soph SA at a BB only for diversity candidates?
Wondering this too
No. They're geared toward diversity but not exclusively, depending on the bank (e.g., never seen MS take nondiverse soph). I know a few nondiverse students who got soph BB IB, and a friend of mine and I got superdays for BofA Soph IB last year. Neither of us is a diversity candidate
It is worth nothing that soph IB is extremely difficult to get for anyone, more so than junior IB because of the fewer spots. Being nondiverse makes it that much harder
Incoming RX intern: I’d say investment banking sophomore summers in LevFin or Sponsors group would be a great intro. Or capital markets sophomore in LevFin, DCM or Liability Management group would be great as well. S&T would be high yield or vanilla fixed income as your best bets. Anything banking related is a great boost
Given how competitive these roles are, what’s a good backup option?
Corpfin at a public company. Hopefully one that consistently issues debt or is involved in capital markets.
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