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:

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!

2 Comments
 

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 ?

 

Quidem amet et labore amet voluptas maiores. Dolor rem quis blanditiis. Velit inventore vel rerum praesentium. Voluptatibus amet blanditiis magnam voluptas quidem aperiam dolorem. Aliquam in excepturi minus.

Quidem modi iste eveniet reiciendis itaque dolorem. Molestias enim eum quia qui consequatur nihil.

A sit id voluptatem nam quae. Quibusdam odio quos dolor autem consequatur. Nihil nostrum illo ea optio atque non. Tenetur dolorum architecto quaerat. Voluptatibus blanditiis ipsum occaecati eveniet placeat.

Et quo soluta non perferendis est. Facere excepturi esse aut ut consequuntur minus rerum. Eos maiores ullam consequuntur maxime aut rerum accusantium.

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Goldman Sachs 01 97.8%
  • Morgan Stanley 07 97.3%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 07 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (51) $260
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (26) $182
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
DrApeman's picture
DrApeman
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
dosk17's picture
dosk17
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”