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Comments (18)

  • Incoming Analyst in Other
May 1, 2020 - 5:47pm

If you don't mind me asking who is the HH for SVP? I don't know much about the fund except one of my bosses worked there. Extremely smart guy, although he never really spoke of his time there. He did mention that it was a great place to get exposure before jumping to another fund and that helped him rise the ranks quickly. Don't think he liked the commute to CT though

May 2, 2020 - 12:28am

Bellcast recruits for them. dynamics does some too for them. they work you hard. it's basically a distressed PE shop so the hours aren't better than banking. but yeah you do learn a lot and can jump easily to a distressed hedge fund or other things. they do work you hard though. if you're coming in as a senior associate you've got some RX years under your belt and maybe some buyside so you know how it is. I have a couple of friends who have/still work there.

  • VP in PE - Other
May 2, 2020 - 8:59am

Can anyone add more color? I have a friend who does more portfolio side work at one of the big shops who was approached by a HH a month ago for a senior role there, they asked me my opinion but I hadn't heard of them. Is the culture like banking / are the hours bad all the way up?

Seems like a good time to go into distressed so I told my friend to do it but now I'm worried I sent them into a meat grinder.

  • Associate 2 in HF - Other
Jun 8, 2020 - 2:59am

so I've heard the hours are bad compared to your typical credit hedge fund but comparable to mid market PE - 60 hour workweeks being the norm. SVP is a mix of both distressed/event driven PE and liquid HF although most of the Capital is in locked up PE vehicles (like most distressed vehicles these days). probably gets you good exposure to both sides of the buyside industry which can be appealing for some. I'm not sure if lifestyle is better at the senior levels - promote seems to be a little difficult and lots of turnover generally to go to different funds. Not sure how the reputation is generally in the distressed credit space but seems like exits are diverse?

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  • Associate 2 in HF - Other
Jun 13, 2020 - 11:49pm

I'd say they are pretty legit and top tier players but usually play in middle market stuff despite their fund size. not as big of a rep as like an anchorage or a king Street but I doubt you'd have any issues finding top gigs with SVP on your resume

  • Intern in IB - Gen
Jun 14, 2020 - 12:09am

60 hours a week being the norm is considered bad compared to typical credit/distressed funds? Reason I ask is I know someone who works at a smaller single manager distressed fund and he says he works about mid 60s on average so was wondering if that's typical or just an outlier.

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  • Associate 2 in HF - Other
Jun 17, 2020 - 3:10am

no it's probably reasonable lol I'm just at a chiller place so I'm spoiled. it all comes down to AUM per Investment professional AND time/resource consuming nature of strategy. my hedge fund does a lot of passive investing and process that isn't as resource intensive, and we don't ever take control etc. SVP likes to take control on a fair amount of their deals and ends up owning majority equity stakes similar to PE portfolio companies so they have a bunch of operational stuff to deal with as well. so combine that resource intensive strategy with a sizable AUM per head (especially given the non-passive nature) and you get to 60-70 hours easily.

and then also it just comes down to culture as well. I've heard that Diameter is a crazy place to work. long hours and stressful founders, but they run ~$1bn in liquid l/s credit hedge fund strategies so not as manpower intensive. They've been crushing though it apparently so whatever floats their boat I guess.

Apr 21, 2021 - 10:00am

I know this fund pretty well.  The founder Victor is intense and thorough - you need to be prepared going into meetings - but overall it's not as much of a sweat shop as people make it out to be.  I would characterize Victor as tough but fair.  Senior folks (VP/Directors) that have been there a few years generally have a pretty good life - maybe even 40 hour weeks and get paid decently. Junior levels work more.  The commute to CT sucks but there is a shuttle that picks you up from home which makes it more manageable.  Cash comp is OK but carry structure sucks (vests over 6 years).  Performance has been good so far (they are generally draw-down closed end vehicles) but distressed is a tough market and they are raising a big fund.  Hope this helps - DM for more info.  

May 3, 2021 - 5:41pm

Out of curiosity - do you know anything about returns? Seems like they have been hanging on to few investments (Klockner Pentaplast, Pfleiderer) for a while now - not sure if they are just making the capital compound or what but would be keen to have a ballpark estimate.

May 3, 2021 - 6:27pm

Returns are prob solid. Smart ppl work there doing good work. Victor seems like good boss. Obv in distressed and longer-term investments things can be a meaningful amount to manage but overall seems like a respected place that has been around for a while and well-regarded around the street 

  • Research Associate in HF - Event
May 3, 2021 - 11:25pm

User836

Returns are prob solid. Smart ppl work there doing good work. Victor seems like good boss. Obv in distressed and longer-term investments things can be a meaningful amount to manage but overall seems like a respected place that has been around for a while and well-regarded around the street 

User836

I'm assuming all the hours and comp for all of these hedge funds are probably in line with the industry standard. If you are at an EB then it's prob similiar hours but maybe a bit better in terms of flexibility and quality. You might get lighter hours and get to spend more time doing more interesting stuff and less time doing things like flipping books or the equivalent. Prob less all nighters too but who knows. Work may also be more stressful because it's real money being invested by the partners and it's a lot of their own money too

User836

I have some friends at canyon. Not sure what you want to know about them. They have some good info out in the public whether it's their website, sec filings, coverage in the media. The two heads/founders I think have spoken a bit at the milken conferences over the years so you can prob catch them there in recorded videos. Have heard nice things about both of them though not sure if I have ever met either of them in person. Mitch and Josh I believe are their names. I think they opened a new office in nyc.

User836

I think Beach Point might also be in LA. Not sure. Also sounds like a good firm

User836

Ah well maybe the OAK stuff is temporary as they integrate with BAM. Canyon def does distressed, but I think that may be done more in La where Mitch and Josh sit (or maybe even TX or FL now if they moved) I think in nyc maybe they have some more equity/reg credit type stuff. Not sure exactly. Seems like they may want to grow in nyc but again not sure. My connect there is mainly FIG

User836

Given the name of this website, maybe it would make sense to take it to the next level and maybe, if possible, WSO should open a physical oasis on Wall Street? Maybe something like a wework location for anyone who works on Wall Street to come and refresh and get nourishment? Find someone to talk to for advice, encouragement, or whatever else they need help with while they travel through what can sometimes be the desert of Wall Street. Maybe I'm just off here. But thought it might be worth asking the question. 

What do you gain out of talking about something you know nothing about? A sense of accomplishment? Every sentence you write begins or ends with "idk", "maybe" or "not sure". You sound like a college sophomore who during COVID googled about a bunch of firms and are trying to pass that off as first hand or second hand knowledge.

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