Hey! Hopefully not too dumb of a question, but do BBs still have special sits groups (GS, MS, etc)? If so, what do they entail, because I believe the EBs dominate the RX world. Would love some insight
Nuanced topic but has been discussed before. GS SSG essentially acted as a hedge fund and now exists as a spin out via Sixth Street. The merchant banking side of SS in banks is gone so mostly now site in the S&T box as product sales or trading, the HY groups dabble here sometimes. There’s also workout groups etc. long story short these are not traditional IB groups but some are great seats ie. DB distressed products group.
There is a very small group that does the on balance sheet principal investing but they are not visible and it’s not a team that will hire anytime since it’s an artifact. Otherwise the group doesn’t exist anymore and has comparable parts sitting in the workout team, S&T team etc. no one’s doing direct hairy credit investing here anymore though
The closest would probably be the Hybrid Capital team within Private Credit, which invests out of the West Street Strategic Solutions fund (it’s a relatively new credit special sits fund that, if I remember correctly, closed in 2020, and they marketed it using deals from SSG)
Quam autem veniam voluptatibus ullam accusamus quam a sint. Sit doloremque et quae sed dolores molestias voluptas non. Quidem sint in aspernatur. Vel qui totam temporibus est quae molestiae. Dolorum vero dolores non quia. Voluptatum et quas laudantium rerum cupiditate.
Quas quam est facilis sed. Sequi animi et ut distinctio omnis ratione. Est minus ea sunt.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
Sorry, you need to login or sign up in order to vote. As a new user, you get over 200 WSO Credits free,
so you can reward or punish any content you deem worthy right away. See you on the other side!
Bump - I know GS had a legendary special sits group back in the day. Not sure what happened to it
Nuanced topic but has been discussed before. GS SSG essentially acted as a hedge fund and now exists as a spin out via Sixth Street. The merchant banking side of SS in banks is gone so mostly now site in the S&T box as product sales or trading, the HY groups dabble here sometimes. There’s also workout groups etc. long story short these are not traditional IB groups but some are great seats ie. DB distressed products group.
Which groups at GS are similar/spin outs of SSG?
There is a very small group that does the on balance sheet principal investing but they are not visible and it’s not a team that will hire anytime since it’s an artifact. Otherwise the group doesn’t exist anymore and has comparable parts sitting in the workout team, S&T team etc. no one’s doing direct hairy credit investing here anymore though
The closest would probably be the Hybrid Capital team within Private Credit, which invests out of the West Street Strategic Solutions fund (it’s a relatively new credit special sits fund that, if I remember correctly, closed in 2020, and they marketed it using deals from SSG)
Quam autem veniam voluptatibus ullam accusamus quam a sint. Sit doloremque et quae sed dolores molestias voluptas non. Quidem sint in aspernatur. Vel qui totam temporibus est quae molestiae. Dolorum vero dolores non quia. Voluptatum et quas laudantium rerum cupiditate.
Quas quam est facilis sed. Sequi animi et ut distinctio omnis ratione. Est minus ea sunt.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...