MF - PE vs Credit/Special Opportunities Teams (of KKR, Brookfield, CVC etc)
Is one better than the other ? Harder to get into than the other or more or less the same? Do people with IBD M&A experience (no debt experience), move to the Credit/ Special Opportunity arms of the funds?
Most people take PE/Credit out of undergrad with the intention of going to HF after their analyst stint. So it depends on if you want equity (cubs, elite HF) or credit (KS, DK, etc.) later, although the dispersion between distressed credit and equity blurs a bit. I would also say that Credit (performing) is very different from SSG, and also, although KKR SSG (rebranded DisOpps) hasn't done well recently, they've historically been on another level than Brookfield/CVC.
KKR special sits hasn’t done well since inception. It’s all brand name. It’s probably best to avoid all those groups to the extent you can.
The rew KKR SSG (at least in Europe) isn’t you classic SSG group playing in distressed, they are just an opportunistic capital provider - ie for good firms facing a liquidity crunch.
The call I was trying to make is to see if it makes sense to interview for a role from my MM TMT IB Group to one of these funds (This is a non US, South Asian Geo). The team am interviewing is very heavy on Real Estate experience in which I have no interest. Does it make any sense to go ahead for the brand name?
going into a role purely for the brand name if that's not what you want to do is stupid.
what kind of investments do these credit arms do? as in more public, more private, mix of both, etc.?
google? some of the investment vehicles are public-listed so you find some decent info about their strategies/teams etc.
i guess my question is more like how would the experience working at these MF credit arms differ from credit hedge funds
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