Mar 11, 2018

How to make the transition from a Mezz. / Direct Lending role to a large multi-strat credit fund?

Hi fellows,

Relatively simple question here, as laid out in the title: I spend ~3 years in banking at two firms, doing mostly financial sponsors but also some M&A and restructuring.

Moved to the buy-side about 6 months ago in the credit arm of a PE fund (think AEA or Audax Private Debt). Enjoy the role, like the team and such a joy to be out of banking.

However I know I want to keep progressing and aspire to join a large multi-strat credit fund, with teams working on all areas of credit (think Anchorage, Farallon, Centerbridge, D.E. Shaw...).

I feel that as I am now on the buyside everything is less scripted, and maybe I should adopt a different strategy (as opposed to talking to numerous recruiters).

For info, what I really want to do is the same type of investments (private credit) but be able to put out larger tickets in situations that differ between each other (Private Debt / Mezzanine mandate is relatively rigid). I am also very curious about adjacent areas and would like to work / discuss / have at my IC people who manage HYB portfolios, CLO managers, RE-related debt, infra debt, other structured products...

Thank you for your insights!

Start Discussion

4 Comments

O

6y

Hey AzaFolkz7, I'm here to break the silence...any of these links help you?:

AMA: Non-finance major--> BB IB--> Director at $5B+ Multi-strat HF (in 6 years) Examples</a></li><li><a href="https://www.wallstreetoasis.com/forums/how-to-get-a-hedge-fund ... -internship">HF Interns</a></li><li><a href="https://www.wallstreetoasis.com/forums/hedge-fund-careers-guide-to-landing-a-hedge-fund ... Engineering major at an engineering-focused school in the Midwest during the crisis (graduated 2011) I
Top Multi-Strat Funds people think the top multi-strat funds and how they differ/rank against each other. I often see debate ... among single PM focused funds, but don't know what differentiates the multi-strat funds from each ... Tried looking and didn't find much in the archives, but I just wanted to get a sense of wha
$7Bln Multi-strat hedge fund in NYC Does anybody have a prediction as to what fund this is (description below)? Understanding of ... course, that there is not much information. The description was posted on Glocap. COMPANY DESCRIPTION: Our ... client is a highly successful $7bln+ multi-strategy hedge fund based in NYC. Their core team has spent ...
AMA, I'm the head trader for a Multi-strat HF at same HF the whole time so my experience may not be typical AMA hedge fund trader ... Went to a top 25 undergrad program, been at HF trading for past 10+ years, ask me anything. been ...
Senior Transition into Multi-Strat Hedge Fund I conceptually like the value proposition, but i have never heard of hedge fund roles other than trader, ... marketing/capital-raising and pm roles. investment banking transition career strategy ... Very Interested in Senior Community Members' views on the feasibility of parlaying ...
Career Progression, hedge fund straight out of college I'm currently a 1st year analyst at a very large multi-strat. Anyone have color on what the ... expect to handle a sizable chunk of risk to the tune of $50 million? How many years of experience do ... career progression looks like for a college grad who directly got into the door? Reasonably, when I can ...
How much to invest in fund where you work I just joined a large multi strat hedge fund ($10bn+) after 3 years at a bank. I have about $250k ... passive income and day-to-day salary, but the fund has performed well and I have faith in it. How have you ... . I am thinking of putting 50% in the fund. I don't want to create more personal risk by comb
More suggestions...

Or maybe the following WSO members have something to say: d7aug gstackle32 Carl-Wells

You're welcome.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

WombatsInKombat

Senior Orangutan

AM

6y

Nothing to contribute but I;m interested as well

Authored by: Certified Asset Management Professional - 1st Year AnalystCertified Asset Management Pro

O

6y

Also interested

PE

4y

Explicabo voluptas sit libero consequatur dolorum ducimus fuga. Libero voluptatem voluptatem doloremque. Iste vel sit reiciendis a. Odio ut aperiam omnis id nihil iste. Quidem at fugiat at assumenda ut.

Adipisci sequi porro voluptate ut. Ea quis aut expedita ea.

Veritatis corrupti sit unde modi sit in quia. Soluta repellendus ut omnis libero sunt eos et. Et sint tenetur ratione ipsa sed. Autem error error id animi. Qui distinctio deleniti voluptatem suscipit officia deserunt.

Quaerat et atque quo placeat excepturi id voluptatum. Minus neque deleniti explicabo sint saepe. Distinctio facere rerum eos voluptatem.

Authored by: Certified Private Equity Professional - 1st Year AssociateCertified Private Equity Pro

Start Discussion

Career Resources