When’s the BSL job market opening up again?
Looking to get out of my current gig into a BSL liquid credit investment role and it seems like there are zero roles out there. Any idea why this is? The issuance market is back on but there are zero roles posted / with recruiters.
New issue market is not back. It’s the lowest since 2010. That’s partly why roles all around credit are not back, not to mention everyone still has no idea if rates are going remain, stay higher, etc.
Lol yeah just because we saw some new issues last week does not mean new issue is back.
Curious, but what don’t you like about your current role? We have a BSL liquid credit role in our firm as well.
Interested - can you PM more details?
OP here, thanks! I'm at an IB- whatever credit analysis we do is effectively papering over a decision that is a fait accompli... I'm looking for a role where I'm doing real analysis to drive an investment decision, I feel like the buyside is where that actually happens. What’s a good way to send you my resume?
oh you're going to drive an investment decision in that 1bn secured term loan unwritten by Morgan Stanley and syndicated to blackstone/CVC/carlyle/PGIM/ares/KKR and every other shop on the market? your PM will def need your analysis to forecast where leverage will be in 6months time
Bump- would be interested if the role is still open (assuming that’s what you meant)- happy to ping my LinkedIn profile if you prefer.
Lots of BSL firms are in a hiring freeze. CLO equity IRR’s aren’t attractive enough to syndicate, so if firms don’t have a 100% equity backstop, they likely aren’t issuing CLO’s.
Bump if anyone has any thoughts on junior openings for the next few months
Would be weary of the BSL market and would transfer to PC if possible. BSL isn’t an appealing solution any more and loses more share each year.
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