Special Situations Group
Does anyone have any info about hours in the Special Situations Group? Other relevant info is also appreciated.
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I work for them (not employed by them), it is one of GS' most prestigious and secretive division. I work with the London and New York teams. One of my ex colleague joined them, I don't know about hours but would be similar to any top private equity firm
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SSG groups across BB (Originally Posted: 07/20/2011)
Guys,
Was interested if anyone knows the ranks/prestige of the SSG groups amongst BB? In particular how would the rank stack up amongst GS, JPM, MS, UBS, CS, DB. I'm sure that GS is at the top, but what about the other banks?
Also if there is anyone that is currently at SSG, could you give us some insights into your day to day work. How is the sourcing usually done and what type of deals you typically work on? (e.g. distressed, growth, etc).
Would anyone recommend to look at the SSG as a viable buyside exit op from banking? If so, why?
Thanks a lot,
I'm not sure that any other banks have a group that is directly comparable to GS's SSG (Special Situations Group). If so, I've never come across them in deal processes.
Do you have any more info about GS SSG besides to what was said in the other posts on wso?
many banks have SSG groups
What other banks currently have similar groups that have the flexibility to invest equity / debt / a combination thereof into liquid / semi-liquid / illiquid deal situations and structures? If they exist, we need to start including them on investor lists...
Outside of GS, most banks have moved away from all forms of proprietary investing (hedge fund, PE, etc.) due to the Volcker rules. A number had moved out of PE even before that, like JPMP/CCMP and MSCP/Metalmark. Even GS has been moving away from their hedge fund groups, for example Liberty Harbor just moved to CT this week to make them look more separate from GS.
Maybe I am missing something but many banks do not have SSG groups. From my experience GS SSG is not just a distressed debt investor like some people believe they are.
Gerytos, specifically what else do you want to know about GS SSG? "More info" is pretty broad...
There are a lot of banks with SSGs that all have different names for them. I've had conversations with two people in BB SSGs (at the same firm but in different groups/quasi-subsidiaries) and the stuff they do sounds absolutely awesome...
Although opportunities for 1st-year analysts are pretty limited, they generally want people with banking/trading experience. More than SA at least.
I was just curious if these groups take positions (through debt, equity or combination of both) in companies to actually have a meaningful control over its operations or is it more of a lending role to healthy, steady cash flow type of companies.
Also in terms of responsiblities/work for an analyst is it mostly writing memo's and doing presentations, or is it very quantitative/technical. I guess at the end of the day, would you compare lifestyle and responsibilities of an analyst in SSG somewhat to an analyst in a pe shop or does it resemble more of a IB role (obviously differes depending on a shop, but lets assume a MM pe shop).
Additionally, do people join these groups with a plan to stay there for a while, or is it more of a 2 year gig like IB analyst programs work.
Any insight would be very helpful.
If you need to know, you already have the info. If you don't need to know you don't have the info.
way to add value....
SSG's are normally small in size which is a solid opportunity for an incoming analyst. However, the deals are limited depending on the firm your working for. Deal flow in these groups can be limited but the experience can be unparalleled.
Special Situation Groups (Originally Posted: 05/27/2007)
Are there banks/funds that have groups that trade on special situations (i.e. spinoffs, recaps, restructurings, etc...)? I think I have some knowledge on the subject and could get in if I interviewed. But I don't necissarily know which companies have these jobs. Any suggestions?
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