Private credit funds in Canada?
I’m in Canada and I’m interested in a career as a credit analyst. How hard is it to exit from commercial banking to a private credit fund?
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I’d focus on networking. I know Sagard has a credit fund, though I suspect they want French speakers
They still recruit from IB. There is Northleaf.
Damn. Even if I have credit experience in commercial/corporate banking?
Bridging Finance used to hire commercial loan underwriters and account managers from banks - as you know this group got charged with fraud recently.
Just looking online there is a PE group called Overbay with apparently 1 billion in AUM that hired a guy from commercial banking.
Any info on Private Credit comp in Canada?
Commercial bankers often go to factoring/asset based lenders and small private credit funds, but it would be very rare to see them go to the large private credit funds (e.g., Northleaf, Sagard, Brookfield, pension plans, etc.).
what's the comp like at those asset based lenders and smaller private credit funds?
I don't really know what the comp would be because I have never explored this option. Would assume that it is higher than commercial banking because people move to them from commercial banking and the cost of this debt is generally higher than bank debt.
Check out Penfund. Really solid group of people, seems like decent work life balance… comp is on the lower side though. But if you’re coming from commercial banking I’d imagine it would still be a step up
Penfund is dope. Most of their transactions are partnered with the LGP, Ares, the Pensions, and big Canadian PE players like Onex, just to give a few names
What would be considered lower side comp? Just trying to get a sense of what PC funds are paying in Canada
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