MUFG Direct Lending & Sponsor Finance
I am currently an Associate at a LMM PC fund in the south trying to move to NYC. Anyone have any insights about this new team at MUFG? What is the culture/comp/lifestyle like? Is it a 1L only underwritting? Is it even a decent lateral Associate 1 move given their reputation and current environment? Appreciate if anyone can provide some color. Thanks
MUFG’s direct lending initiative is relatively new and they have been heavily recruiting for a month or two now. I’d be hesitant with any particular role within a Japanese Bank until you figure out the team dynamic especially if someone from the home office will be involved. I know this is a direct lending role but I’d be surprised if they considered participating in 8x + transactions. Outside of certain players most Japanese banks tend to err on the side of conservatism.
I don't think ANY DL is underwriting 8x deals lol.... most DL funds are probably going to top out are 6x, especially in this rate environment - the math doesn't really work beyond 6x with 10%+ paper (no DL is going to give you a spread under ~600bps right now)
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