Credit Analyst Question on MM/SM
Hello -- I am an analyst on a public credit team (High Yield and Leveraged Loans) at a large credit shop (BX/Apollo/KKR/etc.). We operate as a pod, and I cover the industrials sector. I find that I enjoy looking at things from the equity lens (thinking about valuation, EPS, and growth) rather than from the credit investor lens (liquidity, CF, and risk).
1. I am aware of tech and consumer pods, but are there any pods that focus on industrials? If so, which MM or SM are strong in that vertical?
2. What does the process look like to recruit for these roles?
Any other information on HF work done on industrial companies would be appreciated. Thanks.
I don't think you know what the word pod is as you're using it interchangeably with "team". Pods are specific to MMs, and a few pods will cover industrials at the same firm.
Would start working on those stock pitches.
Gotcha. Do you know which MMs have strong industrial pods?
not really, its probably more a function of who the good PMs are in the industrial space and where they're currently working at rather than an IB-style institutional/group strength given how HFs work.
Most people tend to target Citadel/P72/Millennium after PE/IB and you'd need to diligence the specific PM making an offer
MM / SM differ in investing styles. You choose, and as for recruiting, SM is generally done more ad-hoc - for MM, use BD at the pod shops
To answer your question, there are pods that focus on industrials yes
Interesting you're sector specific as an Analyst. Work across one of those MFs mentioned and never heard of that
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