Aug 24, 2023

High Yield / Loans Credit Research -> Private Credit

I am currently working at a LO asset management firm in their fixed income research group focused on high yield and leveraged loans. I am interested in moving over to a private credit fund, ideally with the ability to invest across the capital structure or in both junior and senior debt. Curious to know whether this is a common transition, and if anyone has advice on how to accomplish this.

Thank you in advance.

2 Comments
 
Most Helpful

Have considered this move before. My sense is it’s very do-able early on - say as a research associate in LO HY moving to associate at a PC fund. Seen that done. Credit is credit and the fundamental analysis skillset is highly transferrable; public HY ppl should be way ahead of IB ppl on this front at least initially. But at the mid-tier levels (VP) gets tougher as the processes are different and at some funds sourcing becomes more important, which is not really a thing in public markets. Not impossible to make that transition but it’s just less common. Curious if others have seen tenured public HY / LL analysts (ie post-MBA types) move to PC?

 

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