Distressed HF for M&A bankers?

Hamdesh's picture
Rank: Senior Baboon | 206

Has anyone interviewed at these popular public distressed funds (Silver Point, King Street, Anchorage) with an M&A background? Any tips on how to prepare?

Curious to hear about peoples' experiences in this space and comfortability if in these roles after doing M&A banking. Thanks!

Comments (11)

  • Research Associate in HF - Event
Jan 20, 2020

You seem focused on L/S equity and keep asking about how distressed HF experience at Anchorage or Silverpoint would get you to a [dream] job at D1. This is an anonymous board which is fine but that level of thinking is exactly how you don't get into distressed from M&A

    • 2
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  • Analyst 2 in IB-M&A
Jan 20, 2020

Sure, I'll bite - M&A analyst that got an offer from one of the three distressed funds you named, which I turned down for a different HF.

In terms of prep, I honestly didn't do much. I had read Moyer several times already in college to prep for RX interviews. It was helpful to chat with people in the RX group at my firm, to pick their brains on how they think and whatnot. They also shared with me some recap models and other distressed oriented models, that was helpful to look at.

However ultimately, people are obviously going to adjust their expectations in interviews knowing you don't have an RX background, similar to how for banking there is a different level expectations for technical questions between an undergrad business student versus a liberal arts major.

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  • Prospect in IB-M&A
Jan 20, 2020

Did you find Moyer hard to grasp when you read for the first time?

  • Analyst 2 in IB-M&A
Jan 20, 2020

Yeah a lot of it went over my head the first time I read it when I was like a sophomore, hence why I said I read it multiple times. Over time, the concepts in Moyer have become pretty second nature now though.

Jan 20, 2020

What were the interviews like for these types of funds?

Jan 20, 2020

All 3 of these funds have different interview styles. SP does a bunch of short cases, more focused on investing generally. Anchorage focuses more on your experiences and gives a longer case usually. King St is more academic, but also does typically give a long case. I'm not sure if the latter two are interviewing much given performance though.

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  • Analyst 3+ in IB - Gen
Jan 20, 2020


  • Analyst 2 in IB-M&A
Jan 21, 2020

Very good guess, but nah didn't want to live in Boston.

Jan 23, 2020