Direct from undergrad private credit analyst seats?

Based on the most helpful WSO content, here’s a list of private credit firms and credit arms of larger managers that hire analysts directly out of undergrad:

Firms with Structured Programs:

1. Ares Management: Offers summer analyst and first-year analyst roles, particularly in their LA office. Analysts may rotate across special situations, direct lending, and buyout groups.
2. Bain Capital Credit: Located in Boston, they have a structured summer internship and analyst program across credit and equity groups.
3. Blue Owl Capital: Known for hiring undergrads, though specific details on their program structure are less clear.
4. Oaktree Capital: Hires undergrads, often with a focus on industry-specific roles rather than strategy-specific ones.

Additional Firms Hiring Undergrads:

1. KKR Leveraged Credit: Based in San Francisco, they hire summer analysts from West Coast schools and focus on performing credit.
2. Silver Point Capital: Known for hiring top-tier candidates, particularly from Wharton and other target schools.
3. Apollo Global Management: Offers various sophomore internships across strategies like performing credit, distressed credit, and real estate credit.
4. Barings LLC: Offers summer internships and a two-year analyst program across private credit, public debt, real estate, and private equity.
5. Prudential Capital: Provides summer internships and a three-year analyst program in private credit, distressed workouts, and mezzanine/equity investments.
6. Goldman Sachs Specialty Lending: Hires full-time analysts out of college, with offices in Dallas, Houston, and Atlanta.
7. Guggenheim Partners: Known for hiring fresh graduates into their structured credit teams.
8. Waterfall Asset Management: A reputable credit fund hiring undergrads.
9. CIFC Asset Management: Another credit fund with opportunities for fresh graduates.

Notes on Recruiting:

• Many of these firms have structured programs, but others hire on an as-needed basis. Networking and alumni connections can be crucial for breaking into these roles.
• Some firms, like Aurelius Capital, focus on niche strategies (e.g., litigation-heavy distressed credit), which may require specific skill sets or experiences.

If you're genuinely interested in credit, targeting these firms during your recruiting process could be a great way to start your career directly in the space without the traditional two-year investment banking stint.

Sources: Undergraduate Opportunities - Credit Funds, Best Credit Funds That Hire out of Undergrad