Special situations at a UMM /MF - exit options, business school, etc? options
Currently an associate doing special sits at a UMM / MF. Relatively new team but strong platform. No MBA required. Comp is fine, but I can see wanting to invest with more equity risk going forward. I come from a non - banking background (think RX paralegal / RX consulting) so this was a must-take offer on my end.
What do MBA options look like from a program like this? Other teams at the fund send people to HSW pretty frequently.
What are exit options beyond doing more credit? Is distressed for control / turnaround PE in play?
Following.
The megafund brand means a lot and will get you looks at a variety of exit opps. Certainly distressed for control and turnaround PE, though it sort of depends on what specifically you're investing in. I know people who worked in megafund "credit" who were basically managing CLOs all day, which is less transferable than say, long/short or distressed credit. They were still able to get interviews at PE funds despite all that though.
B school should be solid (you'll get into an M7 at least) but for H/S may be marginally more difficult because it's harder to get interesting leadership stories when you're doing credit vs. equity investing. Plenty of people do it though, you're just going to have to be thoughtful about it.
Primarily mezz / secondary loan acquisitions. Approx 10% CLO related and senior guys tend to have a few board seats each from taking keys or restructurings.
Last point is interesting. Potentially interested in the credit investing space but also interested in b-school and wasn’t sure how compatible they are. Don’t see a lot of precedent but wasn’t sure if that was self selection or inability to place well in the MBA application process.
Hey- wanted to wait and give you more time for some responses but would appreciate hearing a bit more about your funds investment strategy and your day to day. Is the strategy both public and private ? 2nd lien or Mezz lending? Would appreciate some details and your background as well. Thanks in advance.
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