Help! BB IB to MF credit
Hi all, incoming BB IB analyst in LevFin / structured finance sort role and want to move into credit investing after. Wondering what are the things that you'd advice to prep on? Also wondering if anyone has insights on how to break into credit given current role. Very sadly was told my team won’t run models (will need to verify this) so really need to work on the technicals, any tips would be useful
Based in London but welcome other regions advice as well!
Many thanks
B
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Honestly, if your team doesn’t model these MF will know so you have to sell yourself on knowing credit. If you aren’t modeling chances are your team doesn’t dive into the credit either.
If you’re at JP I feel like all those levfin dudes do is sit in ppt and make materials all day for a 200mm rcf at L + 750
This made me LOL 🫣
Agree with gerbadghiblardi above. LevFin teams tend to have pre-populated LBO templates which they run linking to the sector teams' models. Credit investing is way more about business models, competitive landscape, QoE, management than it is about an xls. Modelling a 3-statement is a pre-requisite. Hence make sure you know how to model (use WSO templates for example) but also that you understand what is behind those numbers.
Just figure out how to model on your own it’s not rocket science. Understanding the drivers of businesses is the biggest thing can focus on
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