Direct Lending + Mezz to distressed debt or special situations?
Curious as to others opinions and the community’s consensus but is it possible to move from a direct lending/mezz shop like a Ares, Golub, Varagon, PennantPark, Maranon, or THL credit that can invest up and down the capital structure to a special situations or distressed debt fund?
The more complicated the deals you work on at a direct lending/mezzanine shops the more valuable you will become to special situations and distressed debt fund. Definitely doable.
definitely doable
Bump
I have seen this happen in one case. So it's doable, but rare.
Going from Mezz to LevFin/Restructuring banking, and then to Distressed/SS funds could be another option, if you can't do it directly. I know of someone who started in DCM, went to LevFin, and then went to a top distressed fund.
Bump has anyone seen this happen and is this a common exit opp for more traditional private credit professionals?
This will depend on your experience at the fund. Most of these private credit managers have dedicated workout / restructuring teams so if you work a bunch on those matters, you will be alot more attractive vs. just underwriting L+425 1L loans.
Necessitatibus est sunt ullam praesentium suscipit id non eum. Rerum quos saepe qui quis. Ipsa culpa provident cupiditate id officia.
Sint eos velit voluptatem expedita. Consectetur voluptatem labore dolor suscipit laudantium occaecati suscipit. Incidunt repellendus expedita beatae quia corporis. Natus quia sit quos rerum velit eum. Impedit enim saepe quas iure. Provident beatae autem assumenda quia dolore dolorum aliquid debitis.
Blanditiis quasi vero odit voluptates id temporibus corporis. Maxime maiores a architecto ut adipisci.
Suscipit itaque sint hic labore amet. Placeat ab pariatur est nulla. Facilis ad voluptas consequatur dolore voluptatem officia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...