MSD Real Estate Credit
They’ve had a LinkedIn posting for some time now. Has anybody heard back? Also does anybody know anything about group culture/comp?
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I applied months ago and would consider myself well qualified. Never got an answer back.
Believe they are still looking.
It is a small/lean team and fit is very important to them. They don't need to hire, but will if there is someone interesting that comes along.
How do you know? If you don’t mind me asking
I know Gregg well. Their credit team has been together for 17 years
I know people on the team very well (I saw a bunch of them on Monday). We've both struggled to find candidates that we truly liked/were good fits for our teams and have commiserated over it a ton at various events this year.
Super active shop, has a lot of capital, good team, but fit and experience the two major factors in hiring. 3 of the seniors came from Starwood (staggered because of non-solicitations), and 2 others were former Starwood. Couple of outliers, but the team mostly knew each other from other places prior to joining.
It makes sense given they are a smaller team that was built ground up over the last ~5 years vs. a team that has been around for decades and had many iterations.
Who they hire matters more when you are building a business vs. being BX and taking a chance on 150 analysts a year.
Any clue what their interview process looks like?
Don't think they do anything special beyond: screening interview > case study > superday.
But I imagine they've gotten hundreds of resumes given they are one of the few spots open in NYC right now and actually have capital to deploy (and are).
If you look at everyone's profiles on the team, this is the type of place people go after STWD, BX, hedge funds, etc. This is end game if you aren't planning on going out on your own, which is really, really hard in the debt world because you need access to 2x the amount of cash than equity. Yes, you can financially engineer your way to it, but that still takes a large capital pool because you are proving guarantees and need credit from back leverage providers.
So if for your first debt deal, you don't have 65% of a deals capital stack, you can't be a lender. Try doing that with your 1mm on savings at 35. Different when you can use the money to do a 3mm deal or can only do a 1.5mm deal with the same mm bucks. Look at the different return metrics and most people would pick equity over debt for the same investment.
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DM me
BTW: one of their guys is on this forum. Think he prefers to stay generally anonymous, but if people weren't anon, he might PM you.
Interesting lol
On job advice?
If you don't have the Starwood, BX background will you even get a look?
You still have a shot; if they already had someone they knew from a BX or Starwood, they would of hired them, not still be looking.
Fair, thanks for the background above. Do you think they're actively reviewing applications now or after the New Year? Was thinking hiring processes are slow/stopped these next few weeks and hit the ground running with networking/job search after.
Just need to have come from any real shop. Fit and aptitude are important. Have transaction experience.
Does anybody know anything about comp
Bump
It’s probably fairly high given the folks who work there (ex-BX, APO, STWD)
MSD is a great shop but it’s not like the greatest job ever - guy hyping them up clearly works there. Competes with PIMCO, fortress, Sculptor, Affinius, Related, etc on the debt side. All good shops
Says the guy who couldn’t get in there
I mean it’s like saying a guy at Apollo could never “get in” at blackstone. I work at a peer firm - there’s really no reason to apply to such a similar firm unless there’s an issue with culture/hours/compensation at your current firm
Since this is WSO, people love to rank shit, and I'm genuinely curious: if MSD is just a "good" credit shop, which ones are the "greatest"?
I think you’re missing the point. All of the shops I listed are the top shops. Which one is “the best” is entirely dependent on your personality fit within their culture
if you’re looking at size, breds and apo credit and kkr credit much larger than the rest. my understanding is that they pay the most as well, from what i’ve heard, at least at the junior level outside of one off hedge funds
Woah they just announced they raised $3.2 billion new fund, hopefully need to still hire a few more to help deploy
Has anybody heard back after first round?
Bump
As others have said, active and respected shop.
Heard that the interview process is very strange. Someone told me they had a zoom interview where not a single person from MSD turned their camera on and all of the questions were scripted. Make of that what you will...
Heard something similar as well. Also heard that people were both leaving and joining midway through the interview. Sounded super weird.
Joining late is understandable if they were coming from another call. Leaving part of the way through would indicate to me that you weren't interesting enough for them to stay assuming you didn't run over a half hour/top of the house meeting time that someone had to drop for.
Strange haha. Did they hear back after the first round though?
Not sure. Don't think they really cared after that initial experience. And neither would I; getting things done in our business is challenging enough without the people on your own team playing psychological games with you.
They finished the process— they took 3 interns for this upcoming summer on the RE credit team
They finished the process— they took 3 interns for this upcoming summer on the RE credit team
They finished the process— they took 3 interns for this upcoming summer on the RE credit team
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