Best distressed/special sits ... not in NYC?
Incoming an1 at t1 rx shop interested in special sits. Ideally would like to do cross cap stack investing but am open to anything.
I hate cities. I want to live in the middle of nowhere, but I know that's not realistic. I want to be near mountains in a place I can buy a small starter home (dad helping me out)
Wouldn't mind the beach either as I surf
Based on the most helpful WSO content, here are some insights for distressed/special situations investing opportunities outside of NYC:
Midwest and South:
West Coast:
Smaller Markets:
Lifestyle Considerations:
While NYC remains the hub for many top-tier distressed funds, there are definitely options in other regions that align with your lifestyle goals. Keep an eye on firms with satellite offices or those that focus on regional opportunities.
Sources: Distressed Investing: This Time It's Different, Distressed debt / special sits investing - On the job, Multi Family Investing - New York City, Credit Hedge Fund opportunities, Direct Lending --> Distressed/Special Situations Investing
From my understanding, here in Minneapolis we have a lot of smaller distressed or mezz-type funds that might peak your interest.
no mountains, but a lot of outdoor activities and stuff near the water if you go up north. If you live ~30-40 minutes from downtown, you start seeing farms and stuff.
Would look at large single family offices that invest across capital structure and are not in big cities. Some names that come to mind are Walton and Koch.
There’s a lot of hedge funds in Miami and West Palm Beach office - Apollo, Redwood, Elliott… there are a bunch more niche ones that I forget, but they’re there. Also private credit too.
Headhunters can point you in the right direction, just don’t tell them you’re against NYC completely because then they just won’t show you roles. Would wait until you’re a few months in though before reaching out.
Artisan Credit is mostly in Denver, PIMCO (in Newport Beach) has HF pockets, Varde + Carval + Whitebox are all in Minneapolis area.
Columbus Hill, out in NJ. Typically hire analysts from RX IB backgrounds.
Anything you can add on their rep/performance? Seems like an interesting mandate on paper and Kevin Eng has a super impressive background but their 13F paints a slightly different picture (and yes, I know 13Fs are incomplete, don't show credit/derivatives/swaps/etc., the names in there are just odd) Makes sense they're in Short Hills given the Appaloosa heritage.
Glendon (Santa Monica), Sixth Street (has non-NYC offices).
To add, Sixth Street's fundamental strategies team, the one that looks at public / distressed debt, sits in SF and hires for associates in SF.
Oak tree in LA seems like an obvious one
Id qui esse vel dolores. Pariatur deserunt ut aspernatur mollitia enim eum neque. Et ducimus id quasi.
Quaerat fuga maiores voluptas officiis. Voluptatem consequatur quis hic a reprehenderit voluptate qui. Et maxime officiis accusamus optio eligendi corporis voluptatem. Sint natus expedita magnam sunt voluptas est. Id quasi commodi aspernatur voluptas.
Accusamus beatae animi non et veniam explicabo. Non ipsum perferendis ut consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...