Private Credit at BB??

Hey all, I'm laterling to this group at a BB that provides back leverage to private credit loans and broadly syndicated loans. Some of their biggest clients are the typical PC firms (blackstone, ares, apollo). My question is what is this position called in most BB banks? What modeling skills do you get? Is the work interesting? What's the total comps? What are the potential exits? Is this part of structured finance or DCM or Corporate Banking?

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Based on the most helpful WSO content, here's what you need to know:

Position Title

  • The position you're describing is typically part of the Corporate Banking or Debt Capital Markets (DCM) groups at most bulge bracket (BB) banks.

Modeling Skills

  • You'll likely develop skills in three-statement projection models with a focus on debt capacity rather than equity valuation.
  • You'll also work on DCF (Discounted Cash Flow) models and gain experience in syndicated loan market and DCM in general.

Work Interest

  • The work can be quite interesting as you'll learn to understand and think about a company's capital structure.
  • You'll gain exposure to the syndicated loan market and DCM.

Total Compensation

  • Compensation can be quite solid, especially in corporate banking, which offers a more balanced lifestyle compared to other areas like investment banking.

Potential Exits

  • Common exits include:
    • Debt investing roles such as private credit funds, CLOs, and other credit funds.
    • Investment Banking (IB)
    • Private Equity (PE)
    • Corporate Development
    • Business School
    • Management Consulting
    • At the VP level and above, exits often include treasurer roles, CFO roles, and positions at other banks.

Part of Structured Finance, DCM, or Corporate Banking?

  • This role is generally part of Corporate Banking or DCM. It involves understanding and managing a company's capital structure and syndicated loans, which aligns more with these departments.

For more detailed insights, you can refer to the following threads: - https://www.wallstreetoasis.com/forum/investment-banking/bb-corporate-b…</a">BB Corporate Banking Exit Opps? - https://www.wallstreetoasis.com/forum/investment-banking/bb-debt-capita…</a">BB Debt Capital Markets - Exit Opps / Comp

These threads provide comprehensive discussions on the roles, skills, and exit opportunities in corporate banking and DCM at BB banks.

Sources: BB Debt Capital Markets - Exit Opps / Comp, BB Debt Capital Markets - Exit Opps / Comp, BB Corporate Banking Exit Opps?, 2017 Commercial/Corporate Banking Bonuses, An Overview of Corporate Banking

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

It could be the Special Situations/Distressed Debt trading desks under S&T

 

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