Hi All,
Looking for some feedback on loan/credit AM teams. I am pretty far in the process for one of these seats at a top fund (think BX/SW/Carlyle etc.) but at face value, the role doesn't seem so exhilarating - reading loan docs, approving leases, draws, etc. I currently work on the equity AM side and my goal for a while has been to transition into an acquisitions/UW role.
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Am missing the ball on these types of jobs?
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Would the potential exit ops (2-5 yrs down) be limiting?
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What's better: a less interesting job at a prestigious firm or the other way around (current situation)
Credit/loan/debt asset management will not get you to acquisitions any easier than your current role would. As far as I'm concerned, there is no underwriting in debt AM as the loan has already been underwritten and closed upon.
I have worked in debt AM before and was offered to do the same thing at Morgan Stanley in 2018 and turned it down. Even though it was MS, the role had nothing to do with my goals (acquisitions/investments). I would tell you the same thing here, look past the shiny name and look into what you would be doing and see if it's really worth it. To me, it seems you should stay where you are given what you want to do.
Just my two cents, but having done both I think it's tougher to "add value" on the loan AM side as you're just monitoring the position day-to-day. On the equity side, unless you're in core/core+, you're likely doing a lot more hands on work that directly contributes to the performance of the investment.
I'm on the equity side doing both acq/AM, though looking to transition to a more pure acq. role down the line as the work has been more heavily AM nowadays...
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