Moelis NY placements for this cycle (HF and PE)?
Hello everyone! I will be interning at Moelis NY in Summer 2019 and was just curious how well Moelis analysts placed this cycle. Appreciate any information regarding this!
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Think a couple people got solid MM pe gigs. Heard American Securities?
American Securities is solid. I know for sure that one got Centerbridge.
Heard a lot of mid/midupper MM at decent places, no mega funds from what I've heard, but there may be a few. Hedge fund recruiting hasn't happened yet and its not on a regular process, it's usually immediate hire except Farallon and a few other SpecSit Distressed Megafunds.
Interesting, I knew the LA office typically does better but thought that NY would def place some into megafunds. Wonder how the LA office did...
+1. That's interesting given how strong the placements have been for the NY office in the past 3 years.
Moelis NY places well compared to most banks, but they were never a seed for Megafunds. Kids who would position themselves do to restructuring or go that route seemed to get into those types of roles at the better places. There may have been 1-2 mf exits that I don't know of though. Even in the past it was usually Apollo, Ares, etc. who have a distressed edge. I know one or two people also went to top FO's in the past like MSD and such. Never thought of NY as placing as well as Evercore LAZ or PJT. LA is definitely on par with the top groups.
I know P72, Anchorage, Baupost, Oaktree, Silver Point, Citadel, Millennium, TPG SSP, and a few other credit shops have recruited. I am fairly certain that most of the larger multi manager / strat shops that typically recruit on a cycle have gone. But many HF's don't have a specific recruiting cycle for sure.
Also weird to note that now that I think about it, most of the firms that recruit on cycle have a credit focus. L/S's seem to recruit by demand. Maybe not a hard and fat rule, but seems to be a trend.
3 LA kids got Centerbridge
Out of a class of 8/9? That's insane
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Moelis NY on average sends 1 - 2 people to Apollo every year and most of the 1st years that Express an interest at least get a 1st round. Similar on center bridge but average call it .75 a year in that there is normally 1 a year but there have been years with none. After that its pretty scattered but very few large cap PE funds in flagship groups (in Moelis NY).
Can anyone speak to the exits from Moelis LA this year?
Heard through a colleague who's from Moelis that both offices killed it For NY I heard just from the street ....American Securities, TSSP, Ares, Encap, Harvest Partners, Jadwa Investments, UBS Spec Sit, Apax, Morgan Stanley Special Sits, TA Associates. And Moelis LA was the usual... got Apollo NY, Apollo LA, Centerbridge, KKR SF, H&F, TPG, LGP, Ares, BX Tac Ops
Wow! That's awesome. Can't believe Centerbridge took 4 kids from Moelis overall (1 from NY and 3 from LA). Really appreciate the input!
According to a friend there, that’s not true. 3 from PJT though.
Can someone explain the obsession with Centerbridge? From what I gather, it’s a decently performing (single digits - teens IRR) UMM fund that hires a bunch of people and isn’t particularly lean. Is it just because it has this association with distressed that people think it’s so sexy?
I get it’s a top notch fund, but people seem to mention it far more than other funds I’d expect to be similarly sought after (H&F, CD&R, Providence, Warburg, Golden Gate).
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