Is there a path from Corporate Banking to Credit Opps or Distressed HF?

Currently at a BB doing Corporate Banking, work with DCM/LevFin/IB Coverage frequently together on mandates and am interested in if there's a possibility to go down the HF route where I can get a more "risk-taking/performance based comp" seat. Understand a direct jump isn't possible, but what about a 2-step career move? 

What would you guys suggest in terms of path to do this? I'm 26 now so wondering if it's a bit too late for me to go down the HF road. 

Comments (4)

Waterfalldown, what's your opinion? Comment below:

I'm curious as well- I'm on the credit side of corporate banking- wondering what kind of opportunities there are for investing roles. I know two people from my group that went to Antares but idk if they are on the PM side vs investing. 

Gergee, what's your opinion? Comment below:

Probably not distressed roles, considering corporate banking only works with well established businesses. You could try for liquid credit roles at MM buyside shops

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  • Associate 1 in PE - Other

May require 2 tough jumps but doesn't sound impossible to me. I think a good first move would be to a well-respected private credit shop. You're gonna be fighting against LF/IB analysts but if you sell your experience you may be able to find a spot.

From there it's all about deal flow - try to get on the hairiest deals / get to see what happens when they go sideways and you may be able to leverage that into a role you described.

Note that if you go this route you may (likely) have to hold back a year or two in your promotion cycle. Since you're 26 I'm assuming you're an associate, so you may be stuck at that for a bit given the jumps here. Personally I don't think that's an issue given you're gonna have a 40+ year career but some people get hung up on that stuff.

whatsapitchbook, what's your opinion? Comment below:

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