I'm interested in PE shops (or alternative asset managers more generally) that frequently make "structured" investments. I'm in IB and my experience has entailed a lot of work on many deals and pitches involving sponsors that do not fit neatly within the standard buckets (or when taken together encompass many different buckets). I'm curious about the best funds to target who focus on flexible capital and outside the box solutions, but I don't have a restructuring or credit heavy background. Most of the counterparties I've dealt with have been megafunds; however, I think my odds are pretty long there. Kind of wondering how to pithily describe my interests and appear to have a cogent desired career path given this fact pattern. Any ideas or thoughts are most welcome.
Some examples of things I'm interested in / or spent some time with below (some more relevant to private investors than others):
- Structured PIPEs (e.g., pref, convertible / mando pref or common with features like governance, lock-ups, dividend step-ups, PIK, replacement capital covenants)
- BDCs
- RMTs (may involve private RMT partners)
- Sponsored Spins (very rare in practice, think it was just Sally Beauty and Metavante in recent years)
- SPVs (e.g., bespoke funding arrangement for pool of revolving credit receivables)
- Minority Stakes / JVs (i.e., with features like ROFO/ROFR, Tag/Drag rights, registration rights, joint decision making)
- Public or LP Vehicles for real asset investments
- Targeted repurchases
- Tax Receivable Agreements / Up-Cs
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