10 Comments
 

Based on the most helpful WSO content, the exit opportunities from LevFin can vary. It seems that it might be easier to move from LevFin to private equity than from a credit fund. This is because there is a lot of "process" in PE, such as preparing the IM, management presentations, financing documents, coordinating logistics, etc. You get a better view of the deal cycle from a bank, as credit is typically quite process-lite.

On the flip side, in credit investing, you have more time to focus on actual investing and will become much better at security analysis, commercial/financial due diligence, etc.

As for moving into MF pure buyout from a LevFin team at a BB, it seems that there isn't a great deal of difference between LevFin and M&A as regards buyout placement. However, other factors such as deal experience will also be relevant.

Remember, this is just a general overview and individual experiences can vary. Hope this helps!

Sources: Q&A: BB LevFin - Mezzanine - Opportunistic PE, Leveraged Finance Exit Opportunities, LevFin WLB-focused Exits and Other Questions, Direct Lending vs LevFin at a BB

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Yeah to add color - currently @ JPM and will say getting way more credit looks than MF. Has to do directly with our capital markets / financing focus. Compare to BAML LF who will get far more LBO modeling reps and traditional MF looks.

 

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