Exiting to a BDC on the Investments Team: Any Information?
Yo yo,
Never really heard anyone talk about Business Development Companies (BDCs) as a potential exit opp from banking. For those that don't know a BDC is basically what a REIT is to a REPE fund. It's a publicly traded vehicle comprised of predominantly structured debt assets with high-growth companies as the borrowers. Loans/investments from the BDC typically include some type of warrant coverage or equity upside as well. BDCs are often sponsored by PE Firms. Ares, KKR, New Mountain Capital, etc. all have a BDC.
Anyways, it seems like a super cool gig. I'm just curious if anyone has any anecdotes they can share about what it is like to work for one, on the investment team. Assume we're talking about one of the big dogs such as Ares Capital Corporation, FS KKR Capital Corp, Goldman Sachs BDC Inc., etc. Any information on pay, hours, how they recruit, etc.? I've literally never seen a job posting for one on LinkedIn. Do they even have large enough investment teams that it's something a junior can reliably recruit for?
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