I graduate this December and have a cool opportunity to work with a startup credit shop for a few months before I start my FT job in IB in July. Comp structure is designed so that my cost of living in a low COL city is paid ($50k annualized) but there is a commission component and I thought it would be fun to try and attract either some co-investment capital or deals. We work primarily in lower LMM asset-based lending deals. they run a fund less sponsor model so opportunity lies either in capital raising or deal flow. Was with the company for while and did pitch decks, hopped on DD calls and did some modeling so I have a good idea of the company. As much as I learned a lot I would like to solidify my knowledge and was wondering 1. what I can read to know the ins and out of credit, 2. How I can try to raise capital from like FOs and HNW/UNHW individuals in my area, and any other info I should know.
Before people say "oh, people won't trust a college grad", yea I know this is just a cool project, I have a FT role locked it and any success is purely upside. Plus I've talked to a lot of our LPs and tbh dare I say I don't see anything super special about them besides they have money. Any help would be appreciated.
Based on the most helpful WSO content, here are some steps and resources to get acclimated quickly with credit and succeed in your upcoming role:
1. Reading Material to Understand Credit:
2. Raising Capital from Family Offices (FOs) and High Net Worth (HNW)/Ultra High Net Worth (UNHW) Individuals:
3. Additional Tips:
By focusing on these areas, you can solidify your knowledge and make the most of your opportunity at the startup credit shop.
Sources: Q&A: Currently at a Credit Hedge Fund, Where / How can I learn more about funds?, L/S Credit HF Analyst - Q&A, Q&A : Credit (DL, SSG), Private Credit Resources and Prep
Asset based lending is less credit focused just make sure that field test covers the exposure lol
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