For background, I'm a junior corporate credit analyst at a large traditional long only asset manager. I've been in the seat for ~2.5 years and joined my current team right out of undergrad. I work with 5 senior analyst covering various corporate and financial sectors across investment grade and performing HY debt (we are mainly a BB shop). In my opinion, I have a decent background in covering performing credits, understanding/covering sectors and investing in corporate bonds and term loans. As I look at a ton of different stuff, I am constantly getting up to speed on names and generally blocking and tackling. To my disadvantage, I can't build models like an investment banker and I don't have a whole ton of experience with CDS.
I have been been looking to jump ship to a more alternative manager. I've been in talks with other firms and recruiters for research roles at credit hedge funds, CLO managers and family offices. Recently, I have been talking to a very interesting startup hedge fund that can invests in special situations across the capital structure, The fund's seed investor is a highly reputable shop. Both senior members of the fund come from legal backgrounds and have worked around the street for years. This fund targets corporate situations where there are legal/structural inefficiencies and try to profit off of them using securities including bonds/loans/CDS/equity. I spoke with one of the senior analysts and then a few days later he reached out with an ongoing situation and asked me to come in later that afternoon with to present a trade. That night, I met with the CIO and I think I was able to give a good overview of the situation and present a trade that made sense given the recent rally in the company in questions securities. I used my access to a plethora of sell side research to get up to speed on the situation and was fully transparent with the team that I did so. I think this worked to in my favor as this team relies heavily on the street to get up to speed on names/situations. The CIO said he wanted to continue our conversation and chat in the next few weeks.
Anyway, does anyone have experience working at a shop like this if so what should I expect. The opportunity seems too good to be true as the firm has a broad investment mandate and the team seemed like good guys. In the past, I have interviewed at more litigious funds in the past, and more or less gotten destroyed. Any advice/comments would be much appreciated.