Prudential Capital Group Investment Analyst: private fixed income investment management

i have an interview coming up with Prudential Capital Group in their corporate finance group

They do "private fixed income investment management"...private placements..mez...etc, all things private as in not listed on exchanges

How is it different than commercial lending/banking, considering they hold to maturity?

Would Fixed income shops like Western Asset, PIMCO like that you have that experience?

What do you guys think of the position?

Description:
The analyst position offers recent college graduates the chance to build their analytical skills and expand their knowledge of private capital investments and the broader capital markets in the three-year analyst program. In this position, Analysts support Prudential Capital Group in managing and investing private placement senior and mezzanine debt. Prudential Capital's clients range from large multi-national public companies to smaller privately held companies.

Working on small regional-based investment teams, Analysts research companies, markets and industries; participate in the due diligence on transactions; develop their financial modeling and comparable analysis skills; prepare written analysis on potential new investment transactions; support the team in monitoring portfolio investment (including direct interaction with senior management at client companies); and prepare marketing materials to support the team's direct calling efforts.

Responsibilities:
- Industry and company research
- Financial modeling and credit analysis
- Transaction and due diligence support
- Portfolio and credit monitoring
- Prepare marketing materials

Comments (9)

Oct 4, 2010

Good group from what I've heard. Solid place to learn credit and get your teeth cut before moving on to a credit fund. I know one guy who went to GS Specialty Lending Group and another that went to Lazard's energy group.

Apr 5, 2018

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Jan 12, 2012

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Feb 24, 2012

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Jul 24, 2012

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Jul 27, 2012

i know they hire analysts from ibanking programs. but exit into ibanking...not sure. you get reallllll good at credit analysis. not a bad place to lateral into Asset Management

Jul 27, 2012

talked to bunch of sr analysts, most kids hit bschool while a good amount jump into PE firm (since PCG do senior debt, mezz, and equity). note that i haven't heard of anyone getting into big name PE firms thou (however, i assume you need BB ibanking and top mba to do that)

Aug 17, 2012

It's very different from commercial lending. Banks originate senior loans through their branch banking and relationship manager networks. The loans are generally first lien and amortize over the course of the investment.

Prudential capital will probably be looking at syndicated debt deals of all kinds- some will be bank loans that are too large for the originating bank to do on its own, but some will be second lien or mezzanine or other non-standard loans that combine equity and debt features. They will most likely originate the majority of their loans through relationships with financial sponsors who frequently raise this kind of debt in conjunction with LBOs. Though Prudential is a huge organization with tons of money to invest and may have some of its own origination networks that don't involve private equity.

The advantage of being at a big insurer is that they will always have lots of capital to invest, so you will work on a lot of deals. The best senior credit professionals may be at more lucrative jobs at hedge funds or independent mezzanine funds, but this is a good launching pad since those guys don't hire many early career analysts.

This looks like a great entry level buyside credit opportunity.

I am wise because I know that I know nothing -Socrates

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Jul 27, 2012
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