J.P. Morgan Global Special Situations Group
Anyone have any info on this team?
Interested to learn where on the risk/reward spectrum they invest (or plan to), what investments (if any) they've made so far, how large the group is, how JPM in general is regarded in the alternatives space, and any other info you have.
Also, what do the exit opps look like and how would they compare to a top group in IBD (M&A/HC) or special sits at other places like GS?
I've only been able to come up with the following
It sits within the Asset Management arm. Closed the Lynstone Special Situations Fund back in October with $1.06 billion in capital and "will invest in stressed, distressed and event driven situations across North American and European private and public credit markets, where underlying assets are discounted due to illiquidity or market disruption and where an event or catalyst has the strong potential to drive a positive total return." Also read that JPM plans to raise $5-10 billion in the next couple of months for its alternatives business, so looks like a promising group.
Analyst job posting said this-
- Review a wide variety of credits (performing and distressed) to produce commentary and analysis to identify profitable trading opportunities and prevent losses
- Once assigned a credit, the analyst will be expected to maintain financial reporting models (as new numbers are released) and become familiar with each credit s governing Credit Agreement, Bond Indentures and contractual obligations in order to analyze financial performance and identify investment opportunities. In addition, the analyst will manage inventory positions for all proposed changes to credits including amendments, waivers and repricing
- To the extent the position is private, the analyst will be responsible for keeping track of maintaining the appropriate database of documents to ensure the team has proper information available including:
--One pager library
--Legal and Company reporting database
- The analyst will work alongside the team to project future financial performance, industry trends and determine an appropriate valuation for each credit
- Preparation of other ad hoc support materials/presentations to the business
- The analyst is expected to build a strong network among a wide range of market counterparts including legal, financial and restructuring advisors, banks and companies