Liquid Credit
Hi does anyone have an info on MF liquid / opportunistic credit? Day to day, comp, culture, exit opps, best shops? Thank you!
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Comp 1st year 100-110 ish
Day to day- modeling, memo prep, industry research, earnings calls, lender calls
Exit opps: Credit hedge fund, private credit, mezz, maybe some special situations
These guys haven’t had analyst classes for very long so dataset is limited.
Best shops on liquid front- BX GSO/Credit, Apollo, Carlyle, KKR. Probably in that order.
Would agree with most of the order other than Carlyle & KKR, I'd put KKR on par with Apollo in this space. Especially after the Global Atlantic acquisition. But even before that.
And what was your bonus and hours like?
Base is about 100-110. Bonuses were lower last year due to Covid. I never worked in the role. But know some that have. Bonus is about 20-50% depending. Hours are like 60-80.
Wide range, i know.
Bonus is def higher than 20-50% at BX, KKR and Apollo from what I gathered from multiple sources. Haven't heard anything about Carlyle's liquid credit.
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Agreed have heard liquid credit groups pay at least near 100% if not more.
Any other details about these types of roles?
Bump if anyone has any additional insights
Is this basically CLO work (i.e. new issue loans/HY) with a portfolio of 100+ names and little to no trading (as all buy and hold), and also generally going less deep in the cap stack and therefore less in terms of the corresponding due diligence?
Or is it closer to your L/S credit work done at a Diameter, King Street Main Fund?
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