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!
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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.
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.
What are bankruptcy equities?
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