Hello, long time reader and first time poster.
I am heading into a Distressed hedge fund interview this Friday and am looking for some help. The fund has a pretty broad strategy - distressed, restructuring, for control, equity, bonds, etc. I have 4 years of HY experience, but very little exposure to distressed (looked at E&Ps and oilfield services pre 2014).
I have the general skillset of modeling, covenant analysis, and valuation. While I have experience looking at 'stressed' credits by nature of being involved in HY, I havent taken a credit into bankruptcy, worked through chapter 11, or been involved in post-emergence. I know there has been posts on this subject in the past, but I was hoping to bring it up again. Is there someone out there who was interview for a distressed shop recently or who works for one and has some insight into the interview process? Is there certain questions, topics, or other things to be aware of? Technical questions, mental math, accounting, valuation, covenant, capital structure, etc?
Thanks in advance. I will be sure to post how the interview went and whatever questions they had for future readers. Thanks.
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