Feedback on Private Credit offer
Wanted to get some feedback on an offer I received for a LMM Private Credit Firm. I am currently an ASO1 in Loan Capital Markets with a, non-traditional route coming from CB so just over 4 YOE.
- Associate 2/3, 1 year timeline to Senior Associate Promo
- $140k base, 40-50% bonus
- Firm has discussed offering carry to Associates and Senior Associates but no concrete decisions yet
- Slightly over $1bn AUM
- 40 Employees, 25 of which are on the investment side
- Just finished raising $400mm for Fund 7, starting Fund 8 raise soon
- Special situations ABL focus with ticket sizes of $10-$50mm (fund 8 will increase ticket size to up to $100mm)
- 10+ year track record
- Portfolio team handing any follow-on financings (common for most borrowers), workouts (roughly 10% of loans end in workout)
- Focus on non-sponsored companies and PM team gets very involved in operations of businesses
- Firm has high focus on PM team given the LMM market they operate in
I feel like the offer is a bit on the lower side. I had originally asked for around $225k all-in. Curious what others thoughts are.