Has anyone interviewed at these popular public distressed funds (Silver Point, King Street, Anchorage) with an M&A background? Any tips on how to prepare?
Curious to hear about peoples' experiences in this space and comfortability if in these roles after doing M&A banking. Thanks!
| +21 | 3x SWE FAANG Intern -> Fundamental Analyst @ HF | 11 | 7h |
| +6 | Fund 1 8%, fund 2 5%, when will fund implode? | 4 | 18h |
| +3 | Castle Hook Partners | 0 | 5d |
| +3 | Disclosed non public fund performance to a headhunter | 2 | 5d |
| +3 | Dragoneer | 1 | 1d |
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You seem focused on L/S equity and keep asking about how distressed HF experience at Anchorage or Silverpoint would get you to a Dream job at D1. This is an anonymous board which is fine but that level of thinking is exactly how you don’t get into distressed from M&A
Sure, I'll bite - M&A analyst that got an offer from one of the three distressed funds you named, which I turned down for a different HF.
In terms of prep, I honestly didn't do much. I had read Moyer several times already in college to prep for RX interviews. It was helpful to chat with people in the RX group at my firm, to pick their brains on how they think and whatnot. They also shared with me some recap models and other distressed oriented models, that was helpful to look at.
However ultimately, people are obviously going to adjust their expectations in interviews knowing you don't have an RX background, similar to how for banking there is a different level expectations for technical questions between an undergrad business student versus a liberal arts major.
Did you find Moyer hard to grasp when you read for the first time?
Yeah a lot of it went over my head the first time I read it when I was like a sophomore, hence why I said I read it multiple times. Over time, the concepts in Moyer have become pretty second nature now though.
What were the interviews like for these types of funds?
All 3 of these funds have different interview styles. SP does a bunch of short cases, more focused on investing generally. Anchorage focuses more on your experiences and gives a longer case usually. King St is more academic, but also does typically give a long case. I'm not sure if the latter two are interviewing much given performance though.
Finepoint?
Very good guess, but nah didn't want to live in Boston.
Gov Lane?
sure hope you didn’t turn down those 3 for Gov Lane. went through the whole process with those guys they’re great pedigree but it’s not really distressed debt it’s like 90% event equity.
Bankruptcy equities or merger arb
What are bankruptcy equities?
Robinhood top 10
I'm gonna guess he's referring to post-reorg equity.
Did you work at Evercore M&A or PJT M&A lol, seems to be the only two banks that consistently places analysts into top Hf’s
Hi, this is very helpful, thank you. Any chance you could privately share some of the recap/distressed models you had a look at?
How did you convince the headhunters or the fund that you were interested in distressed coming from an M&A background. Did you have exposure to a distressed M&A process or something?
I'm looking for an analyst to join my team (working closely with me directly) - M&A banking was my background so would be open to someone with similar experience.
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