PE/Mezz from a bank (not ibank)

I'm a 2nd year analyst at a large bank (think JPM, BOA, WF). I'm not in ibanking - we target the middle market and provide bank debt facilities >$35MM, mostly used for M&A but also can be direct to the Company.

I want to find a pre-MBA associate role with either a PE or mezz debt fund (I actually prefer mezz and think my odds are higher there given my debt background). I do a lot of networking and have gotten some advice already, but want to know what you guys think:

1 - what is the time frame for recruiting? have I already missed it? I've only had one mezz interview so far, and I want to know if I should continue studying for the GMAT or stop and focus on the job hunt before I start my third year.

2 - is there any realistic odds of being able to lock down a pe/mezz job since I'm not an ibanker/consultant/LevFin guy? Since we're doing M&A financing, we either go cash flow at 3x leverage or do an asset-based loan, in which case leverage varies drastically (sometimes negative EBITDA), but I don't think this is considered the same "levfin" that the PE/mezz guys are looking for?

Thanks guys!

Comments (3)

 
Oct 16, 2014 - 4:28pm

sounds like you are in "sponsor finance" as it is usually called in commercial banking world. basically providing senior debt for buyouts/div recaps etc. GE is the big boy in that market as you know, Madison Capital, Golub etc all are similar. Definitely appropriate background for a mezz gig.

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