Blackstone Private Credit vs. BB IB

Ultimate goal is to be in a MF investing seat in PE as an Analyst/Associate or hybrid investing (Oaktree Global Opps or Apollo Hybrid Value), and would love any insight from those in the industry about taking a SA role in MF PC. Would BX PC help me gain relevant investing skills or differentiated experiences as opposed to going to banking? Thanks in advance

 

If you want to do special sits, RX background is probably the best. You can never go wrong with BX Credit, although they do not do any more distressed, you would still gain more valuable skills as an "investor" than doing 2 years monkey work at MS M&C. 

Oaktree Global Opps isn't as good as you may think, in recent year have had hard time making investments, mainly FIG / RE and lost some good people to competitors 

 
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What type of BB are we talking? And are you in position to be placed in a top group (target school and top-tier connections/resume)?

To move from PC to PE you typically have to move downstream and BX in particular is not friendly towards internal laterals. PC is interesting work and a great career, just not the same volume of people coming out of these seats to buyout PE.

Banking is the path of least resistance for sure. That said, to land MF PE or one of those special sits roles out of banking, a LOT has to go right... have to get into a top group (partially luck) AND have to get it right in oncycle (a lot of luck).

Handicap your chances here based on what firm it is and how competitive you'll likely be in group placement and oncycle. If you're interested in credit, would be unfortunate to go to banking just for the better tier PE exit and still land up in a MM PE seat that you could have gotten out of BX. Also agree with above that those special sits firms typically pull from RX groups.

 

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