Oct 28, 2026

Distressed/Opportunistic Credit HF

There is such opacity on comp in this seats. Anecdotally I've heard data points that are in line with good but nothing crazy pay like $300-400k for ASO years but that is more so for seats where the analyst perhaps focuses more so on performing/CLOs and maybe their mandate is a blend. I am super curious on HF only strategy at top credit HFs (Elliott, Oaktree, Third Point, TPG Angelo Gordon, Diameter, Redwood, Goldentree, Arini, Centerbridge, Apollo, HPS, Sixth Street, etc.) like the guys who do pure distressed/opportunistic credit and equity potentially as well as privately placed LME financings. Like for the more sophisticated investor. What are those guys making and how does compensation even work? Is it P&L/returns based akin to a traditional L/S role or is it more fixed like CLOs or PC? I only know a few people distantly in these seats but have heard varying data points around $400-600k for ASOs but as you get your own book I've heard super high numbers exceeding $1M for someone in their low 30s... Please provide some REAL data points, don't even need to disclose firm just want to understand how high the ceiling is. Really have no sense for what the numbers truly look like

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