Nexus capital
Anyone have any experience with nexus capital's credit side? LA. I think carterpierce is running the process.
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It's just a loan book... which hasn't started yet from what I gathered. No dedicated fund. Very similar to CLO. Mostly IG and some HY/performing investments... Not sure how returns been on the PE side, but I know Nexus has a great PE platform doing value buyouts... In terms of culture, there's only one guy there and he's not a boss you'd want to work for... very much a 'taker' and attitude is negative - cranky, whiney, volatile, unreasonable... always had an unpleasant experience in my dealings with him... not that surprised as lotta ex canyon folk are difficult to work with, but I am surprised nexus hired him.
Just confirming that this guy is very difficult to work with... he's inconsiderate, smug, with a classic nasty, snobby attitude... which is frankly very common among zio elitist hedgies and bankers... what's bizzare is how poor his numbers were at canyon... i figured he'd be humbled by losing that kind of $$$ but nah... can't speak much on nexus at large as i've never worked with them and believe they're a newer shop
They are not a loan book. They are moving into loan to own distressed. Ik for a fact
1) While I don't 100% agree with the above replies re: the PM they hired, I agree with 75% of them... and 2) he said he's doing 'performing loans'... he was very intentional in conveying that the strategy is not stressed/distressed whatsoever. I think he likes guys with a Rx background because they can do anything, but the nexus loan book credit strategy is new issues in IG/HY, investing in performing loans, etc. and NOT a distressed strategy. It is also LO... I'm sure it can be a decent seat coming from a LO, but CP quoted lowball comp. Very lowball.
Anyone have any views on the PE team there?
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