Could anyone shed some light on this firm? Can't find much online or on this forum that's specific to Brigade. They're a credit-focused HF, but what else? How's the culture here, as in do they have the people/infrastructure to bring a junior onboard and show them the ropes? For a junior who's coming from a banking program and is going into the HF world for the 1st time, do they have the attitude of being willing to teach them the know-how to convert into an investor?
How do they pay industry wise, how much do associates make on their CLO/structured products teams (salary & expected bonus breakdown)? Would a new associate be in more of an investing position, or portfolio mgmt/trading position in this regard?
Any input on the firm is greatly appreciated.
Bump
They are a one stop credit shop - interviewed with them a few years ago for a jnr seat on the credit research side- they manage money across hedge funds (l/s credit, distressed), high yield long only, a big clo platform (called battalion) and the do equities (leveraged equity fund called Calvary) - investment teams broke into sector pods with snr analyst covering everything from lev loans to distressed and they have jnrs for support
sb'ed thank you! How would you say their culture is, the people?
Did you get to discussions on comp? How does that look for a junior with a couple yrs prior experience.
Know these guys decently well. If you're in the credit space for any period of time you'll come across Brigade. They're one of the main credit hedge fund/platform powerhouses like Goldentree, Anchorage, King Street, Canyon etc. Anyways they're known for their culture. Apparently it's really good and a lot of people stay for a long time. Lots of people 7-8-9-10 year tenures from analyst to partner. Lots of Partner analysts (so you're still an analyst but a partner in the fund).
If you're a junior coming from 2yr banking the comp is pretty much set at 250k. That's the standard for them. If you have a bit more experience then you can push 300k but they really don't hire people that have lots of experience or are coming from PE or other credit buyside - so if you're talking to them it will be 250k. I can guarantee that pretty much.
They do have good mentorship. If you're on the research team you'll be placed in a certain vertical with a senior analyst and very likely there will be another junior analyst as well covering the same industry. If you're coming from IBD, then you should be angling for a research analyst position, not the CLO/structured product team stuff. Your skillset not be relevant unless you're in structured finance. I'm not sure how the comp trajectory works for the non research analyst tracks.
Also to note though - their l/s credit hedge and distressed haven't done well in a while. They had an awful 2020 (they're up ~26% YTD though partly cuz of the crap they owned in 2020). Most of their AUM has been gravitating towards CLOs. Their "sexy" high fee paying money has largely eroded. Similar story to like Anchorage and King Street, although they have about 33% and 50% HF respectively if I recall. Only Goldentree has really been crushing it in on the hedge fund side, they've been raising on the back of strong performance these last couple years - they've got around $20bn in non-CLO money if I recall correctly from my chat with Lee.
P.S. tell Robin Judson I said hi :)
bump
crickets
Uh they have had junior people move from analyst to partner, and they do promote internally - people are generally fine - none of the people I interviewed with were dickheads - and all seamed to generally like the fun
Bump on hours?
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