Private Credit / Direct Lending to PE
I’m curious about how feasible it is to move from direct lending at places like Golub to the funds with more equity exposure like opportunistic credit/special sits/private equity side of the buyside world.
I did classic IBD at top BB and I’m an associate. Now I want to move to buyside where there is some equity exposure and during my recruiting effort I came across DL opportunity.
Any insight would be appreciated. Thanks.
It can be done, but it’s very difficult because you’re competing against the likes of BB levfin and EB RX bankers in the special sits / opportunistic credit space. I’d look at where past associates have gone from places like Golub, HPS, TwinBrook, Comvest Credit, PennantPark, Maranon, HIG Whitehorse, etc. and then see for yourself if any of them have exited to special sits.
If you want special sits look at shops like Sixth Street, Varde, Atalaya, Castlelake, Victory Park, GS SSG, Fortress, Blackstone Credit, Crestline, etc.
If HIGs credit end is as brutal as the equity side, you may want to avoid them!
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