private credit - next steps?
Joined a private credit shop 2-3 years ago after my BB stint - Golub / Monroe / Crescent calibre. Pay is good, hours are pretty good, fund performance is meh but fine. I want to stay in credit and HHs have been hitting me up on the “sexier” opportunities like a distressed HF (no Rx background though) or going “up-market” to a HPS / Oaktree / credit arm of PE shops.
Is it worth the trouble to go through recruiting again? What are the “upsides” besides brand name and/or comps? I see distressed / special situations as more intellectually challenging but performance has been pretty mediocre in general and not necessarily translates to better comps. I don’t mind joining at a more junior level but not sure if really worth the effort. Joining a performing credit team at HPS / Oaktree / Ares is “cool” because it seems like these bigger shops have better infrastructure, raise bigger funds and look at bigger deals. I can see that the career progression at my firm can be unclear (no clear promotion schedule) but other than that no complaints.
Would love some feedback from the more experienced folks here. Also what is the street Sr Associate / VP private credit comps (% of deferred comps) now?
