LevFin Exits
Hi all,
Incoming with a LevFin group at one of the top BBs. Ultimately I would like to get into distressed/turnaround investments. I was thinking of finishing my 2 years and switching to an RX group for about a year or 2. Any thoughts on this plan or opinions are appreciated. I was in conversations with some of the major HHs but given the Apollo decision to halt recruiting - those conversations and have pretty much paused. I also expressed that I am going to pursue off-cycle instead given the potential for RX.
Have yall seen LevFin straight to distressed?
Thanks
I believe it’s definitely possible, but could be an uphill battle. Rx is the more direct route but with top BB LevFin group, could be perfectly fine.
I’m at a MM In Corp/LevFin, looking at getting to Syndication/LevFin to enter PC for direct lending. Seen a few people get to Distressed/Special Situations. You seem to have a good network, so leverage that along with killing it during your 2 year program. From there then pursue both paths, throw out feelers towards directly leaving and also moving into Rx, see which is more feasible for long term goals
Thanks for the comment man, helps a lot. Likewise, best of luck!
Why are you looking to move from corp/levfin to syndications/levfin? Is one the underwriting team and one coverage?
If you're at a top LevFin shop and you study distressed in your spare time, I don't necessarily think you have to be an Rx banker first before going to the investor side. If you come in to interviews with the technical chops in hand, I don't think you'll be at a significant disadvantage to someone working in rx at a smaller firm. Ultimately, the training needed to be a strong distressed debt investor comes from being on the investing side, and the funnel to get into that role is really about hiring talented people who have foundational knowledge in finance / credit.
If you have a specific interest in Rx banking, I wouldn't discourage you from pursuing it, but if you ultimately want to be an investor, get your couple years of experience and go learn to be an investor.
Bank of America lev fin like the only good group there now
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