Hello,
I was wondering if the switch from Private Credit to Leveraged Finance is possible/easily done? I'll be starting an internship at a lower top-tier PC fund in Paris and would like to see which internships I can target afterwards.
I know that PC is typically the exit from LevFin, but since I'm young and bold I don't mind a worse WLB to earn a little more $$ in LevFin.
Thank you.
Why take a step back to sell-side? Why not try to go up market in private credit to a larger fund for full-time role. Im sure pay will be on par or better..
In Paris, buy-side internships are given to target school students like candy due to how higher education is structured (many schools have mandatory internship years/gap years to gain work exp). Entry level buy side roles are extremely difficult to come by and most people will go back to banking even after doing 1 or 2 prestigious buyside internships.
I think OP is French and therefore has to get internships under their belt to be able to graduate.
If you want to remain on the credit side then I do not see why a LevFin internship would hurt, you will see the other side of the market. Depending of what you want to do later, it may be useful to get an M&A internship instead.
There is no point going to LevFin full time, unless the PC fund pays very little.
interesting transition take a look at lifeandlevfin site.
They cater more to students and those not really in the credit space already but maybe you can get a glimpse there about what it really is and see if you actually want to move over to that side of things.
LevFin is definitely doable from a PC background. Once full-time this change would be harder to pull off, however since it was an internship as long as you sell your motivations well it shouldn't be an issue. JPM LevFin or BoA LevFin would definitely be a shout.
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