CITI Leveraged Portfolio Group - Need help. Interview, exit opps and general info.
Hello guys,
I am a 27 years old who discovered finance late in life and from a Southern Europe country, I studied in a non - target and went other route but i started to get fascinated with finance and discovered around 2.5 years ago this forum and learned as much as I could. I went thru the technicals and the financial modelling and with a little bit of networking i landed an M&A intern position in corp-dev in a PE portco and then a IB internship in a regional bank Lev Fin group.
I have been applying to London and for the first time a BB called my for an interview in this group : Leverage Portfolio Group.
can someone explain me what does this group do? day to day of an analyst, exit opps, Interview process. I think I have all the technicals prepared but I want to know as much as a I can.
Thank you in advance!
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The LPG team works between LevFin and Risk. They come up with ratings for non-ig companies and work as bridge whenever a transaction is in line to get a greenlight. They also have inputs on models done by the financial sponsors group (called GAM at Citi).
Citi, for being an american bank have a MRA regulation which means before they underwrite a term loan/bond they have to model a base case operational model with FCF projections for the next 7 years and this number has to be at least 50% higher than the principal of the loan. (1bn transaction - FCF for the next 7 years have to be at least 500m). LPG has inputs on that model, do the ratings analysis and alongside LevFin bring the transaction to be approved by risk so they actually make the commitment to the borrower.
hope it helps, good luck on the interview
So this is not a front office role right? it sounds hybrid.
what about exit opps? do you thing I will get strong credit exposure and knowledge?
I won´t do modelling? Can I lateral within the bank?
Thanks man
it is front office. they sit on the capital markets floor next to levfin and sponsors
anyone has more info??
I've spent a lot of time around this space (currently AS3 in Lev Fin) and think this would be a great starting point for you
If you can get some transactions under your belt, develop strong modeling skills and form a solid understanding of credit - you can make your way to Lev Fin, Financial Sponsors, Private Credit / Direct Lending, Corporate Banking, etc.
Agreed, a lot of good opportunities that can come out of this role
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