Monarch Alternative Capital Info/Insight?

Question

$5B distressed fund. Anyone know anything about them and their rep compared to DK, Baupost, York, Elliott, the usuals? Compensation? They seem unique in that they don’t really hire restructuring backgrounds (bar Weinstock’s son). Seem to take more from Bulge brackets and PE. Why is that? Also seem to have a bias for RE backgrounds and doesn’t look like they silo those guys into doing only RE work. Why is that?

DistressedFund123 · Accepted Answer

from my experience working on a deal we both led as steerco members, they like to bang out a lot of powerpoints and weinstock is regularly involved in processes. Maybe he likes PPT presentations that are more typical work flow from the PE/banker types...though more than likely they just have a tradition from older experienced folks that have a preference one way or the other.

The senior i worked with came from RX backgrounds for what it's worth.

Their AUM has been pretty stagnant and returns not great.

BankCredit993 · Answer

odd that they don’t typically hire from RX shops. I was at a top BB trying to do distressed and didn’t get a look from them.

also for $4.6bn they’ve got 25 investment professionals which I wouldn’t exactly call that lean. much leaner firms out there in the distressed space.

BankCredit993 · Answer

should update your profile then since you’re many years removed from being a prospect in IB so people will give your words more weight. I think if you can then yeah everyone wants to go into the big brand names but there just isn’t that many slots so lots of great people go elsewhere. DK seems to take people from interesting backgrounds that aren’t your typical ‘cream of the crop resumes’. KS and SPC maybe a little less so but still some variation.

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Monarch Alternative Capital Info/Insight?