LA Opportunistic Credit Funds
Just reposting from HF forum, any insight would be really appreciated.
For context, I’m a 1st year analyst in RX in NYCbut want to move to LA after I’m done with my 2nd year here.
Curious to hear people’s thoughts on comp/culture/career trajectories at the following places and which ones I should try to target:
- Ares Special Opportunities Fund
- Beach Point Multi-Asset/Opportunistic Credit
- Canyon Partners
- Oaktree Special Sits/Global Opportunities
Based on the most helpful WSO content, here's a breakdown of the firms you mentioned, focusing on comp, culture, and career trajectories:
1. Ares Special Opportunities Fund
2. Beach Point Multi-Asset/Opportunistic Credit
3. Canyon Partners
4. Oaktree Special Situations/Global Opportunities
Key Takeaways:
Given your RX background, all these firms align well with your skill set. Start networking early, as LA-based roles can be competitive and often rely on strong referrals.
Sources: Credit Hedge Fund opportunities, CIB Credit Risk J.P. Morgan, Credit Hedge Fund opportunities, Family Office vs. Traditional LP Career Path, https://www.wallstreetoasis.com/forum/private-equity/qa-non-target-top-bucket-ssg-private-creditdirect-lending?customgpt=1
I'd just target all of em - see how you fair, all those are solid seats. LA's a small market. There's a few other opportunistic seats in LA/OC as like PIMCO, Glendon (struggled a bit pre-covid), and some of major public credit funds have opportunistic pockets
Im forgetting a few will come back if remember
Thanks for the insight. Any idea of which ones have the best opportunities for upward mobility? Hoping to land at a place where I can stay for awhile.
Places like Oaktree / Ares / BP if you perform should be able to make VP. PIMCO seems to be expanding atm so probably a good shot there. I'm also not sure about the changes to Ares Special Opportunties after Graves left and they moved it to the credit side of the house. Check out Lane42 his new fund, really strong senior team.
Anywhere it's a bit of a crapshoot after VP and hard to predict the market in 4-5 years. Most will advertise as partner track but if you can get 4-5 years at a spot thats really good.
Got it, have looked at Lane42 and will definitely be trying to reach out to them because seems like a really cool place.
Of Oaktree/Ares/BP, any idea of what comp looks like at any of them? Haven’t been able to find much online.
I don't know $amts for Ass 1s anymore but BP & Ares will be higher than Oaktree but I'd only pay attention to that if you have multiple offers. The real variance is at VP but I'd rather have oaktree experience on my resume looking for a new VP job then avg fund with above market comp.
Once you get to VP also if there's no room at your fund to move up, you may have to move to SF/NYC for a bit again esp. if you want to stay in distressed/ss because there are very few seats on the west coast generally. So I'd be more focused on longevity/brand/ expereince than comp at all if thats your goal.
Any idea who PIMCO uses to recruit?
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