Hi, i’m in buy side and i invest in distressed loans, distressed real estate ect.
Recently I'm considering switch to a BB distressed debt & SSG
However, I would like to understand what exactly this desk does
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Ah, you're considering a switch to a BB distressed debt & SSG, quite the move! Let's dive into what this desk does.
Distressed Debt Desk: This desk primarily deals with securities from companies that are in financial distress or have filed for bankruptcy. The goal is to buy these securities at a significant discount and make a profit when the company recovers. The desk also plays a role in restructuring the company's debt to improve its financial health. It's a high-risk, high-reward game, requiring deep understanding of the company's financials and the market conditions.
Special Situations Group (SSG): This group is involved in complex financial solutions and transactions. They deal with mergers, acquisitions, divestitures, financial restructurings, project finance, and capital raising. They often work with companies that are under stress or undergoing significant change. The SSG is known for its creativity in structuring deals to navigate challenging situations.
In both roles, you'd be dealing with high-stakes, complex financial situations. It's challenging but can be quite rewarding. You'd need strong analytical skills, a deep understanding of financial markets, and the ability to thrive under pressure.
Remember, the grass always seems greener on the other side, but it's important to understand what you're getting into. Good luck with your decision!
Sources: Where does the debt syndication desk sit?, Distressed HFs compared to Distressed Credit within PE Firms, Changing face of Investment Banks, Q&A: Distressed credit HF, MF Credit vs. MS/GS SA 2023 Offer
I would be interested in more detailed information regarding MS desk
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