From portfolio to origination - LevFin
Hi,
I have been working in a LevFin portfolio team for the past 2 years, and interned in the same team before that. I have to admit that after a while I feel like I've seen it "all" and miss some of the action that my origination colleagues have (originating new deals, learning about discussions on the economics, all the process management and legal aspects), which would be cool to be involved in.
I have not seen it in my team, but I guess jumps from portfolio team must be possible? A bit sensitive to ask to do that internally but am afraid that I won't have traction with other banks.
Is the move possible? Has anyone done this? Thanks!
So my understanding is you're in leveraged finance credit? You issue the facility for a LBO or sponsor backed transaction?
If so, yes I've seen people make this jump multiple times. It's not super easy but shouldn't be incredibly difficult if you are a decent performer. If you're interviewing externally, you'll have to speak about credits from the transactional point of view.
Leveraged finance credit does not get enough praise in banks, but does in direct shops. Your memo serves as the investment thesis, helping substantiate and justify a potentially successful syndication.
I don't see any serious bank not strongly considering your experience and giving you an interview, and again I've seen people make this jump.
Some levfin credit teams don't do the memo they just make sure they fit internal requirements before being presented to Risk. After 2-3 years if a top performer you should be able to move internally to the origination team - note that you may go back a few years in seniority and that most often you also need solid credentials - ie target/semi target school to network your way there. Good luck!
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