Showing results:
Displaying 1 - 50 of 103
Moving out of CLO analyst seat
I have been at a top-tier CLO manager for ~5 years as an analyst and I’m interested in moving elsewhere in the credit world. Specifically, looking at L/S credit, distressed and private credit roles. All different, but potentially more interesting and lucrative than CLOs. Does anyone who has made...
Determining companies ripe for a restructuring or liquidation
Hey everyone, New monkey here starting my FT S&T role soon (not in HY/distressed) but I am interested in learning more about the RX/distressed space because the area genuinely interests me. I'm curious, and I know it's a bit vague, but how do you approach determining whether a company is ripe for...
(London) Drop recent strong exits(e.g. MFPE/MFPC) from your bank + avg analyst class headcount. Merry Christmas!
Merry Christmas All, Currently drafting a 2024 London ranking based on exits(cringe I know but its always useful for guidance for future interns and analysts + I may have a slight case of the tism and enjoy categorisations). Went A2A this year at a us bb and must say quite alot has changed in the...
Struggling with Application Timelines
Hey monkeys, I am a female and sophomore at a target small college with a strong alumni network. I feel like I am struggling with the timelines for internships for the 2024 summer. While I have been networking thoroughly and making strong connections, it seems like the applications close before I...
Special Situations vs. Distressed Debt Funds
What are the differences between the two? Are they the same thing? I am so confused.
MM IB to Distressed/SSG Possible?
I'm at a top MM IB in a top group. I really want to work at a firm that is able to invest with sizable checks across a capital structure. I'm fine with not working at Oaktree, Apollo, or Elliott, but find this kind of investing incredibly interesting. Is the move possible from MM IB, or should I...
Varde Partners - Anyone familiar?
Posted in HF forum - rotating to here... I know they're headquartered in Minneapolis but have offices sprinkled around the globe. Credit/distressed focus as well as real estate. I think their NYC office does FIG PE .. not certain about that though. They do have a few traders on Bloomberg . Likely...
Varde Partners - anyone familiar?
I know they're headquartered in Minneapolis but have offices sprinkled around the globe. Credit/distressed focus as well as real estate. I think their NYC office does FIG PE.. not certain about that though. They do have a few traders on Bloomberg. Likely distressed/high yield hogs? Wondering if...
What is going on with Catalyst Capital (Toronto, Distressed PE)?
Catalyst Capital was basically the only distressed fund in Canada that worked on legit deals (Cirque du Soleil bankruptcy), and was aggressive in fund raising but haven't raised a fund since 2015. An article from Buyouts Insider says faced a ton of litigation and pushed out their last fund by 1...
MF/UMM Distressed Buyouts
Hi wondering which MF/UMM firms do distressed investing out of their buyout funds/teams? Typically going to be distressed for conversion to equity, either through secondary market purchases or loan to own, Apollo, Ares, and Centerbridge come to mind alongside Crestview, KPS, HIG, and Fortress....
Any insights into Bain Capital Corporate Special Sits team
Hi everyone Curious to hear about Bain Capital Corporate Special Sits / Distressed franchise (mandate, culture, track-record, etc), especially in London Understand mandate is broad, typically include loan to own, minorities, pull to par, pure PE plays, even long equities Also know they have several...
Delete
Delete delete delete delete delete delete delete delete delete delete delete delete delete delete delete
DCF valuation distressed company
HI, I am running a valuation of a distressed company, I made a DCF using FCFO, assuming they will survive for the next five years until the deadlines of their biggest debt, then I used a terminal value computed as a liquidation value. When I compute the value of the equity today, this number is...
Distressed/Special Sits/Event-driven research resources (e.g., Bloomberg)
For those in distressed/special sits/event-driven, other than Bloomberg, are there any other research resources that you currently use frequently or like to use at some point?
Breaking down distressed funds by strategy
Finishing updating this leaving as the three buckets below. Setting up a topic to talk about distressed / capital solutions / special situations. I’d love to bucket names on core types as it can be a bit murky at times and could help with recruiting in the future as a lot of funds do varying...
Wall St Prep/Matan Feldman Zoom Trial for Theft of IP - March 4
As per my previous post challenging Matan Feldman to a Zoom trial where we go slide by slide to demonstrate his theft of my intellectual property and breach of our contract that clearly states I own IP. While I reserve my rights to pursue him in a court of law, I will forego those if he is willing...
Open Invitation to Webinar with Matan Feldman of Wall Street Prep
On point of principle I would like to invite Matan Feldman to join me on a live zoom webinar with all of his customers and anyone else interested in watching. First Matan can explain how after having no knowledge of topics such as structural subordination and inter-creditor agreements. Or how he...
Distressed HF Exits?
Hey Everyone - going to accept an offer for a reputable distressed credit HF, obvs with the intention to stay but wondering what outlook on exits are?
Distressed HF Exits
Hey Everyone Interested in potential exits for distressed HF roles - are exits to PE / Corp Dev ever possible?
Houston IB - Non-O&G Exits?
Junior that will be interning at a Houston EB wanting to stay in Houston for my IB stint. I want to know how difficult it is to recruit for PE in energy-related industries like industrials / infrastructure / renewables. Do I have a chance at non-O&G MF PE (NY/SF) coming from a top HOU energy shop?...
Minneapolis distressed funds
Anyone know much about the Minneapolis based distressed / credit funds? Are they more old-school distressed or have they adapted? Seems like there is a huge market there (Whitebox, Carval, Castlelake, Varde, Merced, Pine River, Wayzata (guess they are shutting down)). Any idea who does recruiting...
Restructuring Analyst Description
Hi Everyone, I am thinking of moving into restructuring because I am interested in distressed asset/debt. I was just wondering what an RX analyst does vs a standard IB analyst working on M&A/IPOs. In particular: -Valuation work (Do RX groups work on DCFs, LBOs, M&A modelling, Takeunder transaction...
For Distressed/Special Sits - which group is better? GS TMT vs. 2nd Tier RX
Yes, it's another question about exit opps. For those who's interested in distressed credit/pe/special sits, GS TMT (or any other top groups in BB that are known to attract top talents for top exits to buyside) vs. non-PJT/Laz restructuring group (more relevant experience but less known for top...
Hoist Finance
Hoist Finance is a Swedish financial services company. Hoist Finance is active in eleven European countries and specializes in the acquisition and management of non-performing consumer loans .
Analyzing Credit Fund Investing Opportunities
Recently came across a role (missed the boat on the application) that was focused on credit fund investments throughout various strategies (private lending, distressed, special situations). The role entails investing in credit funds, meeting with fund managers, diligence on credit fund strategy,...
Restructuring Exits 2021?
Currently in a process to lateral to a mid-tier Rx group [Greenhill, Gugg, Jefferies, Rothschild]. What would potential exits from one of these groups look like? MF Credit? MM Credit? Distressed? Growth Equity? PE?
Anchorage Capital Group: Time to Die in 2021?
So much for the "stellar distressed shop". Interesting to watch the large giants like BlueMountain and Anchorage turn into mostly CLO shops because of poor returns in their high-fee vehicles and outsized% of NAV bets in investments gone wrong. https://www.wsj.com/articles/its-no-time-to-die-f…
Credit/Special-situation HF performance this year?
Does anyone know the performance of credit/special-situation shops this year? Did COVID and recovery help or ruin them? Many seemed to struggle already prior to the COVID (Solus, BlueMountain, King Street losing many senior folks).
PIMCO Alternative Investments / Distressed Comp, Culture, Strategy, Etc.
PIMCO’s high yield credit/corporate distressed team manages funds with a private equity structure and focuses on investing in corporate opportunities across stressed/distressed corporate bonds and bank loans, direct lending, rescue financings, post-reorg equity, and other illiquid corporate...
Gordian Group?
Does anyone know anything about this firm? Deal flow, culture, comp, exit ops, etc? I have been looking online and can't find much. Seems to be RX focused with a decent amount of deals done recently.
Distressed & Special Situations - CRE Focus
I am in the process of interviewing for a distressed & special situations (DSS) role focused on real estate with a megafund. Although I am experienced within real estate (spent the last couple of years working across asset classes in investment management with a top 10 REPE firm) I am curious as to...
Distressed Debt Math
Can someone help me understand how to go through some specific calculations for distressed debt (or point me to good resources for this)? For example, lets say a company has EV of $150, secured debt of $75 and $125 of unsecured debt. Hence, the unsecured debt is trading at 60 cents on the dollar...
Distressed Investing: This Time It's Different
One of the most popular stories from the GFC was from those that made incredible money on the recovery. To hear them tell it, distressed investing was simply finding formerly strong companies that had taken a hit during the crisis, picking up their equity at bargain prices, and riding the wave up as...
Banks that trade distressed credit
Which US banks have distressed credit trading desks that hire interns/analysts? I will be graduating in December with a math major, interning in S&T this summer and looking for an off-cycle for the fall or FT position. (Disclaimer: my bank doesn't have a distressed team that I know of which is why I...
"Hybrid" funds, with HF-style distressed investment strategies in PE-style closed-ended funds
Does anyone know of managers doing distressed funds with an HF-style strategy (using PBs - for shorting, margin etc. - and ISDAs), but putting it in the kind of close-ended, drawdown fund usually used by PE managers, with capital locked up for X years? I think maybe Davidson Kempner's Long-Term...
Current Structured Finance/Stressed and Distressed Special Situations Credit Opportunities
Hi guys, this is my first post so I hope I am posting this in the correct place. I have an upcoming interview with a predominately structured credit (CLOs etc.) focused hedge fund, although they also invest in stressed and distressed special situations credit opportunities. I have been researching...
Distressed debt tech trades by Vector Capital?
Hi fellow monkeys, title says it all - I have heard this guys are pretty smart and aggressive and would be curious to see what they have done in the distressed debt space in the tech sector. I have heard they have a distressed angle though not sure if they traditionally approach it through the debt...
Unit Corp Distressed Debt
Anybody have a view on Unit Corp? In the last few months it's attempted to exchange $650mm of subordinated notes for 73 cents on the dollar of 2nd lien debt with a 10% coupon or 100 cents on the dollar of 3rd lien debt with a 7% coupon in an attempt to term out its maturities to 2024 from 2021 or it...
Request for 2019 Restructuring League Table
Does anyone have the updated year-to-date league table for restructuring/distressed debt? Really curious to know if anyone is having a stand-out year so far?
Leveraged finance vs restructuring analyst programme?
Hi all, I’m a final year master’s student based in Europe who’s just received a return offer for a European BB Lev Fin group. I like the space a lot, and really like my team and think this would be a good place to begin a career. The catch is that I feel quite strongly that I want to look at...
Debt Fund/Direct Lending Recruiting
Hi all! I was curious to learn more about the debt fund or direct lending recruitment process, if it's on the same timeline as PE , and what to expect in the process. Currently, I'm at a BB group that specializes in underwriting leveraged loans (mostly sponsor deals, acquisition financing, and...
Buyside (Fam Office, Direct Investing MM) ---> Rx (Offer on Table) Make Sense?
Might be unconventional, but it's a generalist M&A /Restructuring Assoc offer in NYC from a boutique. Background: I graduated w BS from a target and spent
Does one need to be particularly good at math to work at a credit hedge fund?
I've got to decide which direction I'm going to take, & when it comes to hedge funds, I'm most interested in things that fall under the credit side--special situations, distressed debt, & activism (I know that's not exclusively, or even primarily credit). I have a decent understanding of...
MSRED - > Distressed Shops
Hey y'all I was accepted to a top MSRED program (MIT/Columbia/Cornell). I have a few years of work experience at a boutique development shop doing some pretty unusual/interesting developments in the US and Japan. I recently read Moyer after a friend recommended it and I'm extremely interested in...
Carlyle Distressed/Special Situations
Does anyone have any insight on this group? There seems to be little to no information out there apart from their website. Topics of interest include mandate, performance, comp, hours, etc.
BEST Restructuring experience in London
Hello monkeys, I wanted to get an impression on the best restructuring experience in London in terms of skill building and exit opps. I assume that specialist programs like Evercore/ HL /RS prep analyst better for distressed roles than generalist places like PJT/ Laz /Moelis, even though PJT is top...
Restructuring / Distressed Companies
Hi, what book (books) would you consider a must-read for anybody who is planning to buy a distressed business and try to bring it back to life? (I am aware that real methods can come just from experience, but any sources that will provide some insight on the restructuring process would be of great...
Covenant lite/covenant none
Hello everyone, Europe has been seeing the emergence of covenant lite/covenant none financing since 2011/2012, maybe even longer and I was wondering what this will mean for the distressed investor. Since many of distressed for control plays are based on companies that are inherently healthy...
Loan to own / Debt for equity swaps in Europe (Funds)
Hi everyone, what funds do controversial distressed situations in Europe? I am thinking about debt to equity swaps, CDS plays (like the one GSO did where they forced covenant breach and collected on the CDS), loan to own etc. I am thinking about Oaktree, what other funds are there in London/any...
Best European RE funds (UK + Continental) + Background
Hello fellow monkeys, Out of curiosity, which one are the best RE funds in Europe at the moment? And also, what special situations/ NPL funds are there in Europe? I was thinking along the lines of BX RE Debt, Cerberus but not many other names come to mind. If one would like to end up in a real...
or Want to Sign up with your social account?