Investment grade private credit career?
Any thoughts on this niche as a career? Interviewing for a group specialized in IG PC and would love to hear any insight on this path.
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What does this even mean? Just private placements for IG grade companies? Given the low default rates of normal private credit I’m not sure I see the appeal.
Based on the most helpful WSO content, a career in Investment Grade Private Credit (IG PC) can be quite rewarding and challenging. Here are some insights:
Focus: IG PC focuses on various types of credit. This could range from 1L, Senior Stretch, Unitranche and/or 2L, PIK, Warrants. The analysis in this field is less deep, focusing more on the creditworthiness of the borrower.
Career Opportunities: Similar to Private Equity (PE), a career in IG PC can lead to various opportunities. You could move to other finance roles, industry roles, or even start-ups.
Lifestyle: The lifestyle in IG PC can be comparable to banking early on but tends to get better over time.
Pay: The pay in IG PC is generally very good, and there may be opportunities for carry (a share of the profits of an investment or fund).
Skillset: A career in IG PC can help develop your investor skillset, especially if you're interested in the buy-side.
Remember, these are generalized thoughts and the actual experience can vary based on the firm, the specific role, and the market conditions. Good luck with your interview!
Sources: Private Equity vs. Private Credit, https://www.wallstreetoasis.com/forum/asset-management/credit-suisse-credit-investments-group-vs-blackstone-octogan-cifc-etc?customgpt=1, Private Credit out of undergraduate?, Top Private Credit vs IB for Developing Investor Skillset?
I’m in IG private credit. It has been good so far. I switched from IG public desk though so not much of a transition for me.
Do you mind if I shoot you a PM? I’d love to learn more about what your role looks like.
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