PIMCO to Tiger HF
How feasible is it to be able to move from Private Distressed Debt and Special Situations investing role at a place like PIMCO to later on potentially moving to a Tiger Cub HF?
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Short, snarky answer is sure you probably could move to Vikings new credit team.
For the non-credit side which I assume you are more interested, its unlikely but will probably will depend on your level going in (are you effectively an analyst at PIMCO straight out of college) or post MBA VP "portfolio manager" ? Much better to be junior.
Cool part about PIMCO privates is that they can move super fast similar to the Tiger private investments due to their super in-depth credit, in-house rating system. I havent seen their portfolio but wouldnt be suprised if there was hairy growth debt in there.
Could you describe the PIMCO / Tiger type of in-depth credit, in-house rating system in a bit more detail? Seems like an interesting edge.
Basically they have a fourth ratings agency internally that rates credits due to being exposed to so many credits. They can use that agency to generate alpha by betting on discrepancies between their ratings and normal ratings agencies.
Additionally they are familiar with basically all issuers of size due to their exposure across markets so can move extremely fast in certain situations.
My comment on Tiger was moreso that they can do deals / buys faster than competition due to familiarity with credits already.
Diameter is running a similar concept, just on a much more concentrated book of names that they "know".
Are we talking PIMCO, or Allianz, etc? You just an analyst, or someone that pushes buttons?
PIMCO. The role is a fairly new and is the only analyst investing role they've launched out.
MF PE to Tiger is already a long shot. This is a long long shot. But you should definitely try obviously
I don't know why you got MS for this. It IS a long long shot - pedigree, 2+2 profile aside, you need to alleviate the concern about your ability to think about growth-oriented sectors coming from a background looking at declining / no-growth businesses.
Exactly. People don’t like hearing what they don’t want to hear.
Yes and no -- I think its way way more about pedigree than about thinking about growthy vs no growth / distressed businesses. There are a ton of people at the big growthy tech / consumer focused tiger cubs like Tiger, Lone Pine and D1 that previously worked at PJT Rx, Silver Point, Apollo, etc. Especially for junior analysts, having incredibly well respected (and signalling) names on your resume are way way more important to these funds to get your foot in the door for an interview than doing something that's the most relevant skill set. Agreed though that PIMCO special sits isn't really in either bucket.
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From PIMCO? Not gonna happen. Most of these funds exclusively hire from MFPE, some (SOME), have taken distressed analysts so maybe there
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