Private Credit vs Restructuring
Got an offer to work at a private credit firm for SA that would likely transfer into FT. Roughly 2BN fund. My goal is to be a PM at a HF. Does anyone have any idea of comp expectations and exit opps for this type of fund - they typically do direct lending to 1st lien.
have no clue how good/bad this is, so relative to IB (M&A or restructuring) what am I looking at?
I guess IB SA recruiting is already over and what you have is a pretty good offer. Could likely work for a year or so and exit to a credit HF. Focus on working hard and getting a return offer. If you realize you do not like the work you could leverage the FT offer for a open IB FT spot. Congratulations!
I have superdays for restructuring at HL and LAZ coming up (so assuming i got an offer and return there, which should I pick). Or it it not worth spending the time prepping and this would this be working backwards? I can't find much info on this fund (TCW/ First Eagle/ Nuveen) so I'm kinda afraid that going here would stunt growth vs going through the classic 2 yrs banking (RX) then move to a top HF (D.E Shaw CROPS, Special Sits funds, Cerberus, Centerbridge, Elliot)
Lets discuss that when you do have an offer from HL/LAZ RX. If you want to eventually exit to special situations funds like Centerbridge and all then Id focus on getting the RX IB offer. Tough to exit from doing 1L direct lending at TCW/First Eagle to Special Sits
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Sorry for the lack of context, I have interned at a credit fund - 8BN and a Fund of Funds- 2BN, and a search fund. currently a soph
Whatd u end up picking?
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