London Private Credit Firms and Themes

I've seen some insightful threads recently on the London private credit scene, but I'm hoping to understand some more firm-specific details.

Any info on the performance, culture (especially hours), pay (relative to street is fine), and any other details would be appreciated on the below firms/groups:

Blackstone/GSO

Bain Capital

Goldman Sachs AM 

Schroders

Partners Group

PIMCO

Ares

and any other strong firms (special situations info also appreciated).

if there are trends like if PC groups of US MFs pay more than EU firms etc then that would be great to know. Hopefully compiling a mega thread of London PC will be helpful to many.

Cheers in advance!

Muff

Comments (20)

1mo 
Warren Muffett, what's your opinion? Comment below:

@TitanBrit @PanEuropeanMonkey would be great to pick your brains on the region if possible

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1mo 

For Bain cap: now it's divided in 2, credit (with liquid strategies, ie. CLOs and pull to par, and PC), and special sits (divided into Corporate / RE & NPL). The first one has decent returns, but work isn't that interesting from what I heard, but excellent culture. the SS has been underperforming (other than the vintage 19 fund which has bene doing ok), but it's a way more interesting job, in particular corporate ss, where you have a super flexible mandate (loan to own, stress, distress and growth capital, LBOs, LO public bonds and equities etc.). Heard few unpleasant things on the culture tho. Source: one of my best buds used to work in one of these team

1mo 
Pan European Monkey, what's your opinion? Comment below:

Not super familiar with the space (and less so when it comes to names in particular) but GSAM / Ares / GSO / HPS / Arcmont are the some of the bigger players in the space. In general they tend to pay more than other shops (US shops do vs. European shops). I think KKR has been growing quite a bit. 

1mo 
Warren Muffett, what's your opinion? Comment below:

Do you happen to know if they are sweatshops or not and if they take MBAs?

I've heard that Ares is a sweathshop but how are the others? And thanks for the input mate!

1mo 
CovenantHeadroom, what's your opinion? Comment below:

Seems a bit of a broad topic but just a couple of points. (1) Yes US firms pay better than European's (2) Not sure why the list includes Schroders (unheard of in PC and irrelevant anyway) and PG (mostly followers to bigger funds). (3) List should def include Park Square, HIG Whitehorse, Bridgepoint Credit (fka EQT Credit) in the MM space and, as someone already mentioned, HPS, KKR and Apollo in the large cap space.

If any specific questions, happy to help (not gonna respond about culture / hours for all funds…)

1mo 
Warren Muffett, what's your opinion? Comment below:

Fair enough mate and thanks for the info. Could you give a broad statement about if GSAM and Apollo are as sweaty as their IB/PE group reputations? 

1mo 
Tommy1303, what's your opinion? Comment below:

What would you say about the UK insurance companies doing private credit? This could be for their Annuity books or other purposes.

I work in one of the larger ones here in London. There are insurance regulations which restrict us going below BBB but we still deploy a large quantum in Infra, RE, SF, PP, DL, etc.

1mo 
CovenantHeadroom, what's your opinion? Comment below:

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