undergrad opportunities in private credit?
Sophomore at a semi target, will be recruiting in the upcoming cycle and was wondering what PC opportunities are out there. Not diversity so seems like firms like Blackrock/Bain Credit/Apollo/KKR would be extremely difficult to land. Also not looking for a huge MF/UMM PE exit, think I'd rather stay in PC or go to corp dev/strategy. My uni has a small pipeline to Ares so I'll try for that, also heard the BBs are starting their own direct lending arms but don't know how those are viewed. Any help appreciated. In the US, no clue why tf post is tagged italy
Cant get much better in the PC space than Ares so would aim for that if I were you.
Based on the most helpful WSO content, there are several opportunities for undergraduates interested in private credit. Here are a few firms that offer internships and analyst programs:
Prudential Capital: They offer summer internships and a 3-year analyst program in private credit, workouts/distressed, and mezz/equity. They have opportunities in most major cities.
Bain Capital Credit: Located in Boston, they offer summer internships and an analyst program across credit and equity groups, including private equity and venture capital.
Antares: They offer summer internships and an analyst program in most major cities.
Goldman Sachs Specialty Lending: They hire some full-time analysts out of college in Dallas, Houston, and Atlanta. It's not clear if they have a structured program.
Barings LLC: Located in Charlotte, NC, they offer summer internships and a 2-year analyst program across private credit, public debt, real estate, and private equity.
Typical exit opportunities from these programs include other credit-related roles (private credit, public credit, distressed, mezz, leveraged finance at a bank), MBA programs, and smaller equity funds. Some of these firms also prefer to hire associates from their existing analyst pool, so staying on could be an option.
Remember, networking is key in this field, so make sure to leverage any connections you may have. Good luck with your upcoming recruitment cycle!
Sources: Undergraduate Opportunities - Credit Funds, Best Credit Funds That Hire out of Undergrad
Here are some shops with PC internships in addition to the ones you mentioned: Fidelity Direct Lending, Audax Private Debt, Guggenheim Corporate Credit, Adams Street, Monroe
Brinley partners. They are a good shop(new tho). Cold email to get an interview
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