Hey guys,
I have a phone interview for the KKR Capital Markets/Credit Investing group tomorrow, and I have a few questions. I'm currently a sophomore, and haven't had too much finance experience before. During this recruiting season, I prepared pretty well for IBD/AM-type interviews, but capital markets is a completely new realm for me. What kind of questions are usually asked?
I've also been looking around, but can't really find anything on credit investing, and I was hoping you guys would be able to help elaborate a bit on that.
Thank you so much ahead of time!
It also depends what your previous experience is. Be prepared for everything on your CV, and you don't sound like you have credits/fixed income experience before, so I doubt they will ask you about any credit model. But do understand about the downside risk of credit investing, basic principles etc. Could check Sankaty (Bain Cap)'s interview. They are the credit HF of Bain Cap and will have some similar question even though they used a case study method to interview kids.
Not sure which team/level you are interviewing with but KAM and Cap markets have separate interview processes. Fundamental credit investing is within KAM.
Went through KAMs full process and opted to take an offer with my current shop so feel free to PM me with specific questions about KAMs process (Not as familiar with Cap Markets)
Format was: HR - focus on fit 1st rd Interview - focus on interest in investing/pitch ideas In office case study - focus on case Interview with more of the team - same as 1st rd Senior PMs/Group heads - pretty fit / sell you on the role
Thanks for the reply Xaipe. I'm a sophomore at the moment, so I don't have much finance experience beyond interning at an investment management firm. Would you be able to elaborate on the concept of credit investing a bit?
Helpful thread on Credit Investing:
http://www.wallstreetoasis.com/forums/distressed-debt-hedge-funds
Thank you, theworks9!
thework9, did you primarily work with headhunters for your interview at KAM? Also curious why you picked your other shop.
KKR Capital Markets Interview Summer (Originally Posted: 02/23/2011)
Hey all,
I recently got a call for an interview for KKR Capital Markets summer internship.
I was wondering what sort of questions to expect? I absolutely have no idea what to expect in this interview.
I was told hte interview will be a 2:2 30minute round, with 2 associates and 2 students in the same room.
Sort of lost here...don't know if i'll get railed on technicals as I'm only a soph. in undergrad.
Thanks!
Don't know anything about the interview but am curious to hear how you landed it....
Soph undergrad KKR? hmmm boy wonder? either way congratulations
Is your last name Christ?
wow....
Are you a Whartonite ?
What do you do in KKR Capital Markets? Trading? Hedge Fund type investing?
http://www.KKR.com/new_initiatives/kkr_capital_markets.cfm
Congrats on the interview
I'm guessing a lot of deal financing for portfolio companies. Sounds pretty interesting.
You're a sophomore so I doubt they'll expect you to know too much technicals. But it's always a good idea to study up on recent market trends (maybe know bond benchmarks and premiums etc.- easily attainable from EDGAR), offerings/issuances, and basic issues that're taken into consideration when raising capital (knowing pros and cons of issuing debt vs. equity).
But then again, can't imagine what PE Capital Markets departments look for in their candidates. I would base your interview strategy off BB Capital Markets and make appropriate tweaks based on research of PE Capital Markets departments.
Best of luck, definitely BSD track homie.
I'd agree with the above. As a sophmore (even Whartonite), they probably won't get TOO technical with you (though I guess I don't know that)... they'll likely ask you a lot of subjective questions about why you might raise debt vs. equity and use different capital structures in various situations... why you might want to use one kind of debt vs. another (lower cost vs. less covenants / more flexibility, etc.)...
Let us know how that goes.... I'm interested.
This is a cool role. I imagine not terribly different than what you'd do as a capital markets analyst in banking, but you're doing it for your portfolio companies. In-house capital markets team, not shabby. This is actually pretty unique, as I don't think many PE shops have in-house capital markets teams (obviously many have a capital markets partner or senior-level person, but not a whole team).
And I'm with IPymp as far as advice goes.
Baruch College? Don't know much about what they'll ask you...but i wish you the best of luck.
KKR Capital Markets- SA? (Originally Posted: 03/04/2010)
Do any undergrads end up in this group? I don't hear too much talk about interviews in this group. Do you know anyone who successfully placed an FT with them?
They don't hire summers, only laterally from other investment banks' leverage finance groups.
I'm pretty sure KKR doesn't hire anyone straight from undergrad.
I know KKR Financial (may have a different name now), their high yield hedge fund, recruited out of undergrad last year (I assume they still do).
Still, I don't think that is on par with their PE or anything, but may be good if you are sure you want to be in high yield.
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