Guggenheim LevFin
Does anyone have any experience working with or on Guggenheim’s LevFin team?
I know they’ve been poaching some top bankers from BB shops over the past few years, and know that their considered borderline or definite “EB” depending on who you ask, but have not seen any posts about their LevFin group specifically (most posts are about TMT/HC M&A and RX). Would be curious to hear about the what they’re doing in LevFin, takes on the culture, comp, etc. Bonus points if anyone has insight into the Associate/VP level lifestyle.
Bump
they are weirdly very eco-friendly.... everyone recycles everything, absolutely no waste. It is how they afford to comp so well.
Usually ranked as the last choice group for most analysts. Very chill though but no deal flow
Better off joining one of the coverage groups
Any idea how comp looks relative to the coverage/M&A?
Guggenheim doesn't have a balance sheet, so it's all best efforts deals. Mostly middle market deals, they'll arrange a debt financing, then hit up a private credit fund to take it down for L+950. Rip peoples faces off. Will do some bigger broadly syndicated deals and HY bonds sparingly.
Given they’re best efforts, I assume a lot of this activity is not M&A related?
Yes and no; you'd probably see everything from MM LBOs to divi recaps to incremental deals (usually for tuck-ins) and regular-way refi and repricings. The downside of best efforts deals is that you clip far less in fees than a bank that can take down a large chunk of an RCF. This wouldn't be a lev fin type role at a BB where you're looking at grids and chasing LBOs all the time/booking HY bonds from corporates, but rather working directly with MM companies sourced from coverage, Rx or FSG on bespoke private debt solutions. I believe that team does primarily unitrache and mezz products but also has some exposure to regular-way TLB/HY. No clue whether or not it's a chill group, but my guess is that it would be very reasonable.
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