Distressed prop desks, London
Recently spoke to a senior (and very successful) PM in the distressed space in London and he advised me to get into a distressed prop desk of some banks in order to maximize my odds of transitioning to a distressed credit HF.
My background is in MMPE with some decent exposure to distressed deals, but purely on the private side.
Can someone share their thoughts on these desks in London, and how solid are ones vs. others, recruiting, culture, strategies employed etc.? Would really appreciate it.
Thanks!
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