Silver Point Capital (Hedge Fund)
Wondering if anyone has info on comp, culture, mandate, perception? Mainly interested in post banking/rx roles. Thanks!
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Based on the most helpful WSO content, here's what is known about Silver Point Capital, particularly focusing on the hedge fund aspect:
Mandate: Silver Point Capital's mandate covers distressed debt and equities, with a larger focus on distressed debt. Equities comprise a smaller portion of their allocation, estimated around 10-15%.
Culture: The culture at Silver Point Capital is described as intense, with a steep learning curve that is seen as a healthy challenge. Analysts are expected to be well-versed in various areas such as bankruptcy law, fixed income, and equities, indicating a non-compartmentalized work environment.
Compensation: While specific compensation figures are not provided in the context, it is suggested that interested parties can privately message for details. However, looking at the broader industry compensation reports from September 2023, hedge fund compensation varies by position, with Portfolio Managers earning an average of $1,648k, Vice Presidents $464k, and Analysts $178k.
Perception: Silver Point Capital is perceived as a reputable player in the distressed debt space and is noted for hiring undergraduates, which is relatively uncommon in the industry.
For more specific information on compensation and culture, especially for roles post-banking or restructuring (rx), it might be beneficial to reach out to current or former employees or check the latest reports and threads on Wall Street Oasis for the most current insights.
Sources: Thoughts on Silverpoint Capital?, Silver Point Capital Finance?, Silver Point Recruiting?
Know a kid who interned there back when they had a program. Most of what the bot says actually checks out to me…
Solid shop, strong returns. Good bit of turnover
Any idea on comp?
They are slightly below PE market after 2 years of IB
best in class hedge fund, flagship is largest evergreen fund in the world that focuses on distressed credit and special sits, very smart investors but definitely a bit sharp elbowed
Are you able to share Silver Point’s flagship AUM and/or returns?
I believe it’s around 16% net of fees 25% gross
Any idea on culture / WLB?
A lot of threads on this. It’s intense culturally. Long hours in Greenwich. Smart people though.
Can you provide some color on this? How is analyst retention? Banking hours or long relative to other hedge funds?
Sure. I charge $2k per hour. Googling is free though
Least cocky first year HF analyst
Always see them crunching away late at night when you pass through greenwich train station
what are returns?
Absolutely insanely ludicrously high. 15% annualized after fees since inception. 20%+ before fees.
Bump
Bump
Bump
Comp at senior / MD level? Anyone have numbers? Asking for their HF / distressed, not priv credit
$$$
Did they cut their analyst program?
Yeah
Bump
Decent spot to be but certainly struggled more as of late. It’s not the place it used to be. It took them years to raise this latest fund and a lot of the focus is now on direct lending / growing privates as that’s where more of the opportunity is. Sexy public situations and strategy they used to do more of is becoming more and more rare if that’s what you want to do.
Function of that sexy strategy having less opps and the general secular decline of public distressed, no?
Correct it’s across the spectrum of distressed firms
Sharp folks who can invest up and down the capital structure. Associates are expected to hit the ground running and be well versed with credit, restructuring, legal etc.
Seems like associates are staffed early on into a sector with an MD/Partner which could mean it’s a sink or swim culture.
Compensation is very good - and though returns have been slow - the fund is here to stay for a long time I would imagine.
Can you put numbers on comp? Is it 100% discretionary or does Ed have formulas?
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