Muzinich & Co. - Info/Thoughts?
Was wondering if anyone could give any information on Muzinich & Co. From what I can gather it looks like they're a corporate credit fund that focus on a variety of credit strategies (high yield, long/short, emerging markets, investment grade, private markets, etc.) (no distressed/special sits though). Also seems like they have a pretty strong global presence. Main questions are, would they be considered more of a AM or a HF? How is their reputation in the space? What would opportunities down the line look for someone who moved over to them post-banking stint as a research analyst/are they comparable to the more talked about credit HFs on here? Thanks.
Hi tmike425, check out these threads:
Who will rescue this thread? adrenalinejunkie Paul Diamond @cr151471"
Fingers crossed that one of those helps you.
I interviewed there sorta recently in NYC. Maybe like 8 months ago.
Its long-only asset manager. They have been hiring for leveraged credit, I think. When I spoke to them they had brought a few guys in from london to launch some bank loan SMAs.
I assume once they get real AUM in bank loans, they'll probably also get on the CLO train.
If you are post-banking, then this would take you down the HY & lev loan investing path. They know how to underwrite leveraged credit, and that is transferable to many things.
You could easily use that skillset to do: CLOs, long-only credit, long-short credit, value equity, go back to rx or lev fin banking, IG credit, direct lending. Distressed is also possible, but difficult to jump to because there is a core knowledge base that you just wont have without having either done RX or workouts of some kind (you wont do workouts at muzinich - you would just puke the loan instead).
Even though I list those transitions as "easy," you will be expected to know how to pick/make investments independently in order to be seriously considered. If you choose to go down this path & want to be successful, I think you need to really be intellectually curious about businesses, engage in significant self-study, and practice outside of work. I view this sort of credit as a subset of value investing.
I did something similar to this right after banking a few years back, and am now in the credit arm of one of the megafunds doing a bunch of crazy shit. That's a path too, and you can certainly be considered for those roles too - but you better be a damn good value investor and have plenty of investment ideas to talk about.
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