Fund Finance IB
What banks have the strongest groups in fund finance? If anyone works in a fund finance/subscription finance group and wants to pitch in - do you like it, what are the potential exit ops, and what are your hours usually like / are you glad you went this route instead of an industry group?
Thanks a ton!
Have worked closely with fund finance team in GS/MS/JPM London
At least in my bank it’s a very small team with good hours generally, however very repetitive junior work and a lot of admin bs brain dead kind of tasks too
However they do do their own financial models, but they are very different to M&A models as it’s fund cash flow modeling etc
My impression is that most juniors that started as analysts there want to lateral / leave as exit opps are not great. You might be able to go to a secondaries fund or a cap markets team in PE but still you’re probably at worst odds vs candidates from a traditional sector role background
But as an area of finance it’s growing massively… so if you’re genuinely in it for the long term it’s a great pay and good hours overall
Could you be a bit more specific about what the hours are like?
Probably 9am-8pm on average
Do you know if pay & bonus is in-line with other IB/industry groups? Also do you think it's possible to exit to private credit and/or debt related hedgefunds
Pay is below the typical IB groups and buyside exits are pretty limited–PC and credit HFs are more LevFin type of exits.
Commented about this recently but interned at a bank with a strong team in fund finance and the WLB seems really nice but honestly probably not the best team to start with in finance.
Just to add on, Evercore PCA has a niche sub-team (Structured Capital Solutions) which looks more at marketing collateralized fund obligations. Bit more esoteric stuff than what you'll usually see coming from the fund finance folks at MS, etc.
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