Possible to do opportunistic credit in SF?
Might need to move to SF for personal reasons… i cover TMT and been doing public and private opportunistic credit for a while. Is it possible to do it out of SF? If so, how…?
Thanks!
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Based on the most helpful WSO content, it is indeed possible to pursue opportunistic credit in San Francisco. The city has a strong presence of investment firms, including private equity, venture capital, and credit-focused funds. While the opportunistic credit space is competitive, there are several ways to position yourself effectively:
Target Firms with Credit Strategies in SF: Many firms in San Francisco, such as Oaktree, Francisco Partners, and other private equity or credit-focused funds, have a presence in the city. These firms often engage in opportunistic credit strategies, including distressed debt, special situations, and private credit.
Leverage Your TMT Expertise: Given your background in TMT, you could target firms or funds that focus on technology and media sectors. San Francisco is a hub for tech-focused investments, and your expertise could be a valuable asset for firms looking to invest in TMT-related credit opportunities.
Explore Direct Lending and Private Debt: The private debt market in SF is growing, with many middle-market direct lending firms and funds actively sourcing deals. These firms often look for professionals with experience in both public and private credit.
Network Locally: Building connections in the SF finance community is crucial. Attend industry events, reach out to professionals in the space, and leverage your existing network to identify opportunities.
Consider Boutique Firms: In addition to larger players, there are boutique investment firms in SF that specialize in niche credit strategies. These firms may offer opportunities to work on unique and complex deals.
By aligning your TMT expertise with the needs of SF-based credit firms, you can position yourself effectively to continue your career in opportunistic credit while accommodating your personal move.
Sources: Alternative Lenders & the End of Risk Taking for Banks - Opportunity or Risk?, Help Convince me to go to San Francisco, Private Credit is Paradise, Credit Hedge Fund opportunities, Credit Hedge Fund opportunities
Yes. Plenty of places. Ares is one of them (not the only one btw)
Ares is in LA.
SF is BlackRock/HPS, Vector, Farallon, Sixth Street, Silver Point, GIC and a few HFs im blanking. Blackstone SF has DL and some hybrid cap groups that focus on tech and can be opportunistic. Sixth Street or Vector good fit if you are TMT/Opportunistic Credit. Plenty of tech credit / DL as well if you cant swing an opportunistic seat right away.
Thank you, this is super helpful!
KKR
Above posts got most of the ones. Sentinel Dome, Foreword, and Irenic all have SF headcount I believe as well on smaller HF type places.
Thank you guys! If my responsibility is to be a TMT sector head for opportunistic credit with responsibility to source private deals, is it feasible for me to ask for 50/50 SF/ NY arrangement even if I join a ny based firm?
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