Questions for you opportunistic credit HF folks - How possible would it be for one to transition from a L/S HY ( including some stressed, CDS and LevLoans)/Performing Credit role to a distressed role? Assuming the former role is straight from undergrad, what extra steps would one need to take in order to be a competitive candidate for a public distressed seat at a top fund? What kind of difficulties or disadvantages might one face without having the IBD background and how would you compare to a LevFin/Rx Analyst?
I'm assuming more effort would have to be put towards modeling early on, but I'm not aware how of how drastic the difference in investment analysis is when comparing HY vs distressed credits and what disadvantages I might face. All opinions and additional info is appreciated from those sitting in either seat!