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Don't have any experience with the group but reading into it; Across asset classes; sort of. They are essentially lenders, so the asset classes will be equity and credit, in all parts of the cap stack - equity, mezz, senior, sub, converts, etc and securitized debt in both Private and public companies, across industries but energy and real estate are specifically mentioned. Being a lender means it is a buy-and-hold strategy, they will be aiming for a catalyst before they sell. I would assume that because they are a "special situations" group that they are buying companies near bankruptcy, so cheap equity or debt for cents on the dollar. Being GS they will probably put a board member into the firm or sit on the creditor committee in order to drive any restructurings before they sell out.
Can't talk about culture or comp versus HFs, but it is meant to be a very prestigious group, basically doing its own thing within GS so I would expect comp to be very similar to a top tier HF
why would you comment if the first sentence is a disclaimer that you dont know the situation. Being a lender means its buy and hold? what the hell does that mean?
The second bit is referring to the fact that large distressed/special sits funds are generally quite activist and will hire someone to sit on the board (when owning equity) or will sit on the creditor committee. I was referring more to the equity side here since they will most likely take on someone external (whereas creditor committee the investment team can do it themselves) and "being GS" they have a large infrastructure and network they can leverage to get the right guy for the job.
Anyway, what is your understanding of the fund? I'm trying to provide some insight based on comparing what they do to well known special situation hedge funds.
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