buyside to rx ib
incoming analyst at a distressed hf out of school... never did an ib internship while in school, only buyside internships. I was wondering how the process would look like for someone like me if I'm looking to jump to a ib rx role as an analyst. Eventually want to do distressed pe / buyout 2-3 years down the line. Assuming that some sort of an ib role would give me more options than from a distressed hf that would limit me to distressed pf / other distressed funds. How should I go about networking here? Is now a good time to reach out to analysts?
pretty atypical since it’s almost certainly done the other way around, but I don’t see why you couldn’t make the move after 1-2 years in the distressed HF role. also, depending on how “deep distressed” your HF goes into RX process, post Reorg equity ownership stakes, it is very likely you’ll be able to get a distressed PE job if you want as well.
thanks, my only concern would be being siloed into a distressed guy after this role. While I am interested in distressed pe now, my concern would be competing with say other guys with the typical ib/pe experience for a growth/mature buyout role.
From what I've read on wso having the EB / BB brand name might also help later on or make myself marketable to more funds. Although I'm sure I can land a seat at a good distressed hf / distressed pe 2-3 years down the line out of my current seat but not too sure about general buyout roles.
Out of curiosity what makes you prefer distressed pe over hf? I'd imagine could be stagnant performance in public distressed or maybe a desire to have more control over operations of a business but would love to hear what you've considered regarding that decision.
for now I would say more control. The fund I'm going to doesn't always position with the aim of controlling the process, sure in some, but quite a few are just wanting to get paid at par / a meaningful recovery. I also feel that the pe job would be more stable, no?
Yeah totally understandable. I'd guess there's significantly less blowup risk in distressed pe than hf where you have funds like solus, bluemountain, york all winding down.
dm me and I can give advice
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