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Moving from commercial credit to distressed credit/debt
I am currently fresh into a new job as a commercial credit analyst at a bank with a 1.2bil in assets. I wanted to ask the members of WSO a few questions: 1.) Is it possible to move from commercial credit (analyst) to distressed credit/debt (analyst)? if so, 2.) what would be the best route? I was...
Distressed Debt Analysis Stephen Moyer
Anyone have a pdf link of Distressed Debt Analysis by Stephen Moyer they could pm to me? Thanks in advance!
Time Limit for Staying on Sell Side?
Hi Chaps, I'm currently staring down the barrel of an opportunity to switch to the buy-side from a sell side HY / DD desk, but it's to a fund which definitely isn't a top pick for distressed and is much more HY focused (distressed is where i want to focus). Is there an argument to just get on the...
Restructuring - Advice
Hey Everyone, I was wondering if you all had advice on how to prepare for a summer internship restructuring role. I'm going to try to read Moyer's "Distressed Debt" book, but are there any other tips you have? Are there any online courses I could take? Any help/advice is much appreciated - thank...
Distressed Debt Research vs IBD
Out of curiosity, which would provide better preparation for a future role in distressed debt investing on the buy-side - being a distressed debt desk analyst (in Sales and Trading at GS /MS/ DB / BAML ) or working in an industry group in IBD (at a BB )?
Debt Service If Not Fully Paid
Hi everyone, I have a question on debt service. Suppose the debt service in 2014 was 100m according to 2013 Financial statements and 90m based on 2012 financial statements (the number of debt schedule changed because the company did not fully paid the debt service in FY13). And in fact, the company...
Distressed Debt Desk Analyst
Currently a 3rd year analyst in a coverage group at a middle-tier BB in NYC . I have been interviewing for an Analyst position at a distressed debt trading desk. I have a strong interest for distressed debt. Few questions for all you guys out there: -Can someone give me an idea of the day to day in...
What would you ask Howard Marks if you could?
Howard Marks from Oaktree Capital
Catalyst Capital (Toronto Distressed) - Thoughts?
Monkeys - Any thoughts on Catalyst Capital? I've heard they are a top ranked distressed fund in North America, but they are very opaque. I'd like to hear about culture, hours, pay, etc. Also, any clue if an industry guy could break in there? I know they usually recruit guys coming from restruc,...
Career Advice - JPM DCM vs Nomura S&T
I'll keep this short and sweet: You want to be an investor as a long-term career, and say you were given these two hypothetical job offers out of college: 1) Nomura High Yield and Distressed desk analyst - somewhat principal strategies like role where you perform fundamental analysis on different...
Distressed PE/HF
So this actually hasn't been brought up in a while, but Im trying to compile a list of respectable distressed players. Preferably control PE funds, but anymore the HF / PE line can be blurred when it comes go distressed companies and their debt. Other than the obvious Oaktree, Apollo, Ares, and...
Hedge Funds & Argentina's Debt Heads to SCOTUS, Wait, What?
A while back, I wrote a lengthy piece about Argentina's blue market, their black market for dollars, which tended to be rather different from the official exchange rate. Why there was such a gulf between the two, at the time, was what I was trying to figure out. My findings pointed to outstanding...
Avenue - case study
Happy Friday all, Looking for some colour on the case study / process at Avenue for jnr analyst / associates (specifically London). Cheers,
Distressed debt buyback accounting
Say a company has debt with book value 100. It goes into distress and buys back all of it for 50 cents on the dollar. Cash goes down by 50, correspondingly debt goes down by 50. But that leaves 50 in debt whereas the whole debt was bought back, Where/how do I account for the missing 50 (basically...
Warwick Capital Partners
Hi guys, Anyone heard anything good/bad about them? How do they rank among other distressed/special situations HFs? Any insights on pay, culture, undergrad recruiting, prestige, etc.? Thanks!
Looking to speak with people in distressed/high yield or bankruptcy/restructuring lawyers
Please PM me if you work at a fund or bank and are a trader, analyst, or researcher, or, if you're a bankruptcy/corporate restructuring lawyer. Anything related is welcome too. Thanks.
LevFin vs Restructuring vs HY Credit Research for Distressed Debt HF
For someone looking to work at a DD HF , which is the best career path in terms of: - Hours - Learning opportunities - Ease of transition into HF
Distressed Debt Career Advice.
Want to piggy bank of the conversation Billy Mays started here: http://www.wallstreetoasis.com/forums/credit-distressed-fund-technicals Hoping the same group of experienced group can lend a few cents of advice.
Distressed Hedge Fund to VC?
So coming up to end of my first year in M&A and looking to jump ship. Ultimately I want to do VC , but that only seems accessible after 3/4 years of experience. Am currently considering a few junior positions at distressed debt hedge funds and just wondering how it would impact my chances of getting...
Any info about Credigy Solutions (consumer finance-focused investment firm)?
I'll be speaking with someone at Credigy soon about their Analyst Rotation Program and I'm curious to see if anyone knows much about the company. Their website leaves much to be desired, to say the least: http://www.credigy.net/AboutUs.php I do know they're an consumer finance-focused investment...
CMBS vs Corporate Credit
Ignoring the obvious differences, are there any structural similarities from a legal/covenant standpoint? I've gotten pretty interested in the corporate credit world and have considered picking up stephen moyer's distressed investing book. However I currently work on the equity side of commercial...
Models for distressed debt investments
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A Novel Twist on Vulture Capitalism
Now that the flood of distressed debt has slowed to a trickle, vulture capitalists are having to look far and wide for their next big score. They say necessity is the mother of invention, and that certainly appears to be the case with Ice Canyon's new investment strategy. Perhaps encouraged by...
Distressed debt investment model (from the lender's perspective)
Hi all, I'm wondering if anyone can share a model that analyzes whether to lend money to a company in distress. Senior, collateralized, preferably in PIK form, but anything similar are better than none. Many thanks!!
Sell side high yield/distressed debt to buy side
Hi guys, I have a year's of IBD background from BB and I am about to make a move to a sell side high yield/ DD analyst role at well respected name in the credit industry (sell side). My long term goal is to make a move to the buy side and I was wondering hoe feasible this is, since most funds prefer...
Denver Distressed Debt Firm Looking for an Analyst
Distressed debt firm looking for an Analyst to join the acquisitions group. Based in Denver. No relocation assistance, but will fly out for final round interviews. 50% time will be spent supporting underwriting, 50% analyzing potential deals. Mostly dealing with non-performing debt/loan portfolios...
Top Distressed Debt Funds 2013
Any ideas on who some of the top funds trafficking in distressed debt might be in 2013? Curious to get any insight you guys may have on the topic!
Marathon Asset Management?
Hi Guys, I was just wondering if any of you heard of Marathon Asset Management (http://www.marathonfund.com/) and potentially could tell me something about them? Such as working environment, career prospects, salary (fix/bonus), etc. Anything would be highly appreciated. Thanks in advance.
CapIQ/Prequin favor
Guys, Can anyone with a CapIQ/Prequin/Bloomberg account help me with a small favor. I need to pull names of a few funds on there. Banana points compensation. Thank you all in advance!
I Want to Learn About Distressed Debt Investing
I'm interested in learning about distressed corporate debt investing (like what Howard Marks does at Oaktree Capital). Can anybody direct me to any resources that go over the process in identifying, analyzing, purchasing and profiting from such investments?
Distressed Debt Workout / Special Servicing vs. Mezz
How are the hours/comp/exit opps/reputation of this industry in general? how about for well known shops like cw capital, torchlight investors, LNR capital, C-III and the like? Is this generally a good launch pad for a career in real estate debt? i'm interested in how this kind of career would...
HELP!! List of firms that make bridge loans (and do equity partnerships)
I am looking for lists of firms similar to hudson realty capital and cottage capital partners that have AUM between 500 mm and 1 billion dollars. Does anyone know of firms within this range that mostly deal with real estate and distressed mortgages? i.e. make bridge loan deals generally within the...
Competing with Blackstone in Real Estate
So Blackstone have raised over $6 billion for their latest REPE fund and are targeting $10 billion by the end of their fund-raising. It seems like Jon Gray and his guys are operating on a different scale to their competitors. Do you guys seen anyone giving them a run for their money? either from the...
David Tepper Personally Earns $4 Billion for 2009 Performance
David Tepper grew up in a middle class neighborhood in Pittsburgh, PA. He became interested in the stock market after observing his dad, an accountant, trade stocks during the day. Following high school, he enrolled in the University of Pittsburgh, where he excelled. After Tepper graduated with a...
Post-MBA jobs in Distressed Debt
Hello all, I have posted on WSO a few months back and got extremely insightful responses. Hope you’ll be able to help this time as well. I am a Credit Risk analyst at a bulge bracket investment bank. Given the length of my work experience, I have decided to apply to B-schools this or next year and...
Tejas Securities Group
Hi,does anyone know anything about Tejas Securities Group? They have this institutional Sales Trainee opening that sounds kinda iffy... 2,000$ a month till the trainee picks up accounts and makes commission. What is their reputation like?
PrimeShares
Anyone heard of these guys? They are associated with Vonwin Capital as well and are supposedly a distressed debt fund.... http://www.primeshares.com/ Any feedback would be great, thanks!!!
Andy Beal
This guy is a total badass. He has bought distressed assets at the the bottom of nearly every major event over the past decade and sold it off at a killing. He also won millions of dollars against professional poker players, built rockets, and formed a conjecture for fermat's last theorem. My...
Urgent Help: Mezz Debt and Distressed Debt Investment
Hey guys, quick question here: Could someone explain what kind of target is good for mezz debt investment in a LBO ? Imagine some of the element will be similar (eg: steady cash flow). So guess the real question is, what are the different criteria that you will look at vs. a equity investment in an...
Oaktree pawns KKR...again
Anyone who's read Moyer's Distressed Debt Analysis might remember the example in the introduction where Oaktree scooped up a failed KKR buyout, then flipped it for a profit. I was amused to see this article today: "After courting collapse for months, Masonite International Inc. made a prenegotiated...
High Yield vs Distressed Debt
I'm a little unsure what the difference is between the two. Is distressed debt a subset of high-yield? Thanks in advance..
Please Review My Resume - Primarily looking for S&T positions
Please give me some feedback on my resume, I'm primarily looking at S&T positions but also applying to some places as an analyst. It's got me some interviews so far but I'm hoping I can tune it up and make it more effective as I continue my job search. Thanks in advance....
Distressed Debt to Private Equity
Hey guys, I was posed a really interesting question recently, and I had no clue how to answer it so I wanted to throw it out to you. A friend of mine works for a top distressed debt shop (Monarch, Sankaty, Oaktree) that she got into directly out of college a few years back. However, she wants to...
Oppenheimer LA interview
I am interviewing with this firm next week and absolutely clueless about their culture, people, fit. Anyone with experience working for this firm please give me some advice regarding what type of questions i should prepare myself for (fit/technical or even brain teaser)....this is my first interview...
Hedge Fund or BB for SA Junior??
I have been offered a summer internship at probably the biggest distressed debt hedge fund in Asia and I could possibly get a SA position in the Alternative Investment Division of a BB although that's far from being certain at this point. Obviously if I don't get the BB I'd have no choice but in...
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