CLO to Credit Hedge Fund?
Currently working in LevFin and considering a move to a CLO manager. They raise external capital and manage CLOs containing mostly private PE-related loans.
Is this a good route to move to a L/S Credit strategy at a hedge fund down the line? Or would I be stuck in CLOs if I make this move?
I understand this is a weird time to move to a CLO as they could have trouble raising new funds when the markets are choppy, as I'm sure they will be over the next year or two. It would mostly be a lot of portfolio management rather than new origination.
bump
(Mostly tangential) it really depends on the shop. Some/many run opportunistic sleeves that would allow more relevant experience beyond buying high yield loans.
Some CLO shops also just buy pretty much everything and are essentially trying to capture structure benefits whereas others do a lot more credit fundamental work as far as research and modeling. So it comes down to the specific shop and your ability to sell yourself. If you find the right shop then you are in a good spot as far as credit l/s type stuff. I would definitely network around at some of those places and ask the target end employers
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