What is the strongest path to get into Distressed Debt investing? I've heard restructuring, Lev Finance and High-yield credit analysis are some of the go to's. Any other strong pathways into Distressed Debt orientated Hedge Funds?
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From my limited view, it is totally depended on the strategy.
There is an overlap of course, but different strategies need a different Background.
But, you can not go with RX or some LevFin and maybe FIG/NRG/Transportation teams.
hey mate thanks for the response. More the Hedge Fund scene
I recruited straight to a distressed debt position from undergrad. I bought some of the relevant materials and put together some credit pitches and sent them around and got lucky.
Most I've seen come from M&A groups, strong RX shops (Evercore/Rothschild/Houli), banking +PE (2+2) or sometimes possible if coming from BB distressed desk. I have personally not seen analyst level lev fin guys exit directly into deep value or distressed HF. Feels like they mostly exist into performing credit or need to do a stint elsewhere before going into distressed.
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