What opportunistic credit funds recruit out of undergrad?

Opportunistic credit funds that recruit out of undergrad include:

1. KKR Special Situations Group: Known for its exclusivity, often hiring from Harvard. Focuses on PE-type sponsor deals and rescue financing rather than public distressed credit.
2. Silver Point: Primarily hires top-tier candidates, often from Wharton, Duke, Ross, and Stern. Their process isn't heavily distressed credit-focused.
3. BX-GSO (Blackstone Credit): Rarely hires undergrads, but when they do, analysts are placed in the Customized Credit Strategy (CCS) group, which focuses on leveraged loans, high-yield, and equity tranches.
4. Bain Capital Credit: Based in Boston, they have a structured summer program and primarily hire from New England target schools like Harvard and Dartmouth.
5. Oakhill Advisors: Hires from a variety of target schools. Analysts are industry-focused, covering performing, opportunistic, and distressed credit within specific sectors.
6. Aurelius Capital: A niche shop with a litigation-heavy strategy. Analysts focus more on credit documentation and covenants than modeling.
7. Apollo: Offers sophomore internships across strategies like performing, distressed, and real estate credit. However, recent full-time analyst hires are less common.
8. Ares: Hires summer analysts and first-year analysts in their LA office, with rotations across special situations, direct lending, and buyout groups.
9. Other Funds: Guggenheim, Waterfall Asset Management, and CIFC are also mentioned as hiring fresh graduates.

Timeline for Full-Time Positions:

• Recruiting for full-time positions typically aligns with the broader finance recruiting cycle. For many credit funds, this means:
  • Summer Analyst Programs: These often serve as a pipeline for full-time roles, with offers extended at the end of the internship.
  • Full-Time Recruiting: Generally occurs in the early fall of senior year, though some firms may recruit on a rolling basis or later in the year depending on their needs.

Networking and securing internships at these funds can significantly improve your chances of landing a full-time role.

Sources: Best Credit Funds That Hire out of Undergrad, Undergraduate Opportunities - Credit Funds