Groups like GS SSG
What groups in other companies would be most similar to GS SSG? (There seems to be some variation in special situations groups)
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Which team within the SSG are you referring to, since they are quite diverse with a couple of different strategies?
Do you mean funds or banks when you write "companies"?
oaktree
A distressed hedge fund. I don't think there's really a comparable group at any banks.
At least in London, the (E)SSG is far more than "just" a distressed HF. They have a diverse mandate across the different sub-teams doing everything from growth equity in Africa to plain vanilla Real Estate with a focus on Hotels.
There are a couple of Banks with a quite similar mandate as well like Macquarie (quite active in Europe), JPM (new team, currently ramping up) and especially BAML.
whats are the teams called at BAML and Macquarie?
Off the top of my head, for non-HF since people have already stated that DD funds have some overlap, BX Tac Ops. Broad mandate, just like GS SSG, and not limited to just distressed credit.
Comparable groups to GS SSG at other banks? (Originally Posted: 12/18/2007)
Goldman's Special Situations Group is highly regarded on this board for the kind of money they make, prestige and work they do. What other banks have similar groups in terms of the type of work they do (and presumably the money they bring in for the bank)?
Merrill Lynch has a Global Asset Based Finance group which falls under the "Global Structured Finance & Investments" umbrella in the Global Markets division. I have heard they do some secutizations/secured lending but do a lot of principal investing with ML capital in project finance/structured finance transactions as well as some risky/complicated debt. I am not entirely sure this is all correct, so is this group comparable to GS SSG in the type of work they do/money generated? Exit opps?
Also heard Deutsche Bank has a similar group to this ML group. What other banks have something similar to GS SSG and how is it different/same? Similar exit opps? Thanks very much.
I know Citigroup has a SSG, but I'm not sure if what they do is comparable (work-wise, not prestige-wise) to the work done at Goldman SSG.
Lehman has an equity strategies group that uses its prop capital to do fundamental long/short
bump. Any more insight on non-Goldman special situations groups?
does MS have an SSG type desk
Morgan Stanley has a real estate special situations fund, which is essentially a principal investment group dealing with the real estate asset classes and capital structure. Unrelated to Goldman SSG work to my knowledge.
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also i heard that GS Principal Strategies no longer operates in NYC. Can someone confirm that?
not true. PSI still operates in NYC
wachovia/wells securities has a SSG that deals with distressed assets... don't know too much more though.
An ex classmate of mine is going through the application process for ML GMI; more specifically he will be working on distressed assets in Europe.
One of the questions on the application is: What do you think your typical day will be (or something similar)?
Although he knows what he will be working on, he doesn't know whether the typical day looks like the one of a trader (6.30am - 7pm) or like the one of a M&A analyst (9am-2am) and does not want to come out as naive on the application.
Any thoughts?
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