Portfolio Management Direct Lending Interview
Hi team,
Currently working at a German bank in London (DCM Syndicate Private Placement team), I'm French from non target BS (Bachelor + Master). I did DCM for 6 mths and 6 Mths of RE at Amundi (both in Paris).
Just landed an interview at a nice Direct Lender in London (think Ares, Golub, GSO, PennantPark, THL Credit, Maranon...) in the Portfolio Management team. From what I read they invest in MM Corporates and project Finance.
Just had a few questions:
How can I prepare for this? I guess some modelling test will come but I don't know what to focus on... LBO? Lev Fin? Project Finance? Any advice regarding the technical part will be well appreciated.
RESPONSIBILITIES:
- General portfolio management including quarterly valuation and reporting
- Macro-level analysis of the data collected to assess and draw conclusions on performance within the portfolio
- Supporting potential restructuring and internal 'work out' cases with detailed Excel financial models - including cash flow analysis and related capital structure analysis
- Using your knowledge to assist the investor relations team with technical client queries
I'm not familiar with the structure of these funds, would it be possible to move from the Portfolio management team to the team that originate the deals? Is the Portfolio Management team part on the FO?
I also saw that the fund had a RE arm, do you think that transferring could be easily considered? (after a few years maybe?)
Thanks in advance for your returns guys!
Had a quick tchat with an associate from the Paris office origination team, he told me that I might have an "easy" model with EBITDA, FCF, and structured a debt on it, he told me most likely unitranche with cash interest in fine. Do you know where I can train myself for that?
He also said that due to the problematic year we're in the restructuring / Portfolio Mgt was a great team to be in in terms on work-flow and that the transfer to origination was possible.
any other advice please ?
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