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WSO Restructuring Modeling
Hi, anybody can give feedback on WSO Restructuring Modeling course? Any other suggestions that you would have to get some knowledge, particular books that are a must-read for restructuring / distressed? Thanks!
Finding and understanding Credit Agreements - a call for help
I'll be on an rx deal team by the Summer. Cap stacks for days, apparently. Any insight would be great regarding credit agreements, To be specific, does anyone know how to search for credit agreements via SEC? Is there a specific filing type or are they always within an Exhibit filing attached to the...
Tenex Capital Management - Info/Culture?
Does anyone have any info on Tenex Capital Management? From what I can find, looks like there an operationally focused distressed PE shop started by a few Cerberus guys. Any info on the firm in terms of types of investments/culture/reputation would be greatly appreciated.
Sourcing Distressed Opportunities
I watched an interview of George Schultze who says his company maintains a database of companies that they track into distress. In one post from Distressed Debt Investing he describes poring over any and all bankruptcy dockets 1) out of interest but 2) as a means of potentially uncovering a...
Pre-MBA internship at distressed PE/activist fund?
Hi everyone: I'm an incoming student at a W/C/Booth type MBA program with previous experience in debt and VC outside of US. Pre-MBA, I'd like to seek a pre-MBA internship with a distressed PE /activist fund in US through school networks (my undergrad is also in US). I was just wondering, for a...
From post-investment portfolio management to PE
Hi fellow monkeys: I graduated from college in 2012, and was wondering if I can seek your advice on how I can transition into a PE role at a decent platform please? I knew I liked investment due to the intellectual aspect, but was not very clear on what kind of investment I would like to do, so I...
HIG Bayside Modeling / In Person Interview
Hi everyone, I have an hour in-house modeling test and an hour in-person interview for Bayside coming up (First round). I was wondering if anyone has been through this process and knows what to expect? Thanks a lot in advance.
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...
Choosing post-banking career path & how you made that decision (PE, Distressed, L/S, etc.)
Fellow monkeys, I'm a banking analyst here in London and I am trying to make up my mind on which route I want to go down post-banking. Unlike many others I haven't really hated my time in banking as I have learned a ton and worked with great people and even W/L wasn't too bad (of course still far...
Credits / Investments per Analyst
New account for this one. Curious how many credits / investments you cover, ie currently invested in? What is a normal range per analyst. How does it differ per strategy? Distressed/ HY /Leverage Loan/CLO/IG/equities? Also does it differ based on industry analyst vs generalist?
Q&A: I'm a London-based Distressed Debt Analyst
I did 1 year at one of the top restructuring shops (BX, HL , Moelis etc) and then moved on to a credit fund. I've been here for 1.5 years and love every minute of it. We've historically focused on the distressed/special sits (control and non-control) space but given the drought of opportunities (in...
Distressed
Hello everyone
Gulf Keystone liquidity
needs payments from KRG rapidly, cash WILL run out at some stage in 2015, even with 10/12 million per month - beware.
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The art of Distressed M&A - is this cheap impossible?
http://www.aliexpress.com/item/The-Art-of-Distressed-M-A-Buying-Selling…
Q&A: Credit Analyst at +$5B Distressed Shop
Have lurked on WSO on-and-off since pre-crisis days. Reading the material on here helped me get my first internship - time to give back. Happy to answer anything and everything. Quick background below. - Beginning third year as investment analyst at a $5B event-driven / distressed debt fund - Invest...
Best restructuring / turnaround PE shops
Hi Looking for very good restructuring shops a la SVP - anyone working in similar shops (distressed / turnaround PE) and can share experience? Thanks
Distressed debt / private credit--UK or US?
Hi guys: I was wondering if someone could comment on the differences between doing distressed debt/private credit type of investments in UK/London (or other EMEA centers?) VS in the US please? I'm very interested in this space, and was wondering how these two locations might differ in terms of types...
From restructuring advisory to distressed hedge fund - post MBA
Hey guys - I'm an MBA at Wharton right now. I want to end up at a distressed hedge fund but did not do banking before (been in finance before but not i banking). How good are my chances of being able to make a move to a distressed hedge fund after working as an associate at one of the top...
How to value bank loan of a distressed privately held company?
Hi guys, I'm trying to value a $1bn bank loan (due 2016) of a privately held company and I could use some help here (yeah..marketing background...). This loan is currently trading at 60c (the company's EBITDA is ~$50m) I'm assuming I have to build a series of scenarios and see how much of the debt...
Distressed Real Asset Investors
I wasn't entirely sure where to ask this but is there much of a market for distressed natural resource investors? By that I mean opportunistic investors in farmland, timber, mining etc… PE firms, vulture funds, commodity traders? Anyone know of good examples of this or what kind of background...
Question about Apollo's distressed investments
Does anyone know if Apollo invest in distressed debt/distressed for control situations out of their credit fund or PE fund? I think they have like $60+bn in credit. I know they've invested in portfolio company debt like Lyondell and Realogy, and that's partly how their last PE funds have recovered...
Distressed debt loan closer: dead end or good experience?
I am looking into a possible temp to perm position at an investment firm as a junior distressed loan closer. Would I be able to leverage this experience to get a distressed debt or leveraged finance analyst role? Loan closer seems more of an MO position; I am just worried about the exit opps. Please...
REPE debt fund - what kind of excel modelling is typical?
I'm preparing for an interview with a REPE Debt Fund (hence my prior posting regarding this topic). I was curious to know what types of financial models are typically used. The folks I'm interviewing with typically purchase portfolios of distressed assets, rarely individual properties. Does anyone...
Megafund Credit Arms
What is the general reputation, pay, culture, exit ops, etc. of the credit arms of megafunds i.e. Sankaty, TPG Credit, KKR AM , etc.? Looking for information on a pre-MBA associate role. Any help or insight is much appreciated.
Debt/Credit Fund Interview
All - wanted to get your take on where I can learn more about investing from a debt standpoint. Read the Moyer distressed debt book and although it is great, wanted to gain more insight to what debt investors think about vs. equity, not just distressed but investment grade/ HY as well. Any...
Exit opps: Best way to maximize chances at distressed debt / distressed PE?
Hi guys, I am a first year analyst at a BB , and I have grown more interested in distressed securities hedge funds and distressed private equity. It looks like the work would involve both value investing style analysis and dealing with, at times, complicated problems. I was hoping to get some advice...
Creation value concept in distressed valuation
Is anyone familiar with the "creation value" concept in distressed valuation? Ie. if the current capital structure is 500 senior secured term loan, and 500 of unsecured subordinated notes. Say you purchase the notes for $0.50 on the dollar. Often it is referred to as creating the enterprise value at...
Locating the fulcrum security
Hi Everyone, I'm trying to understand how to find the fulcrum security for a distressed company and unsure where it is. I'm doing this for a PE distressed debt fund that wants to take ownership of the firm after bankruptcy. I understand the more senior debt holders get paid in full and the next...
Distressed Debt Analyst opportunities
Hi, I might have an opportunity to go to a distressed debt HF but have many questions on this as very unfamiliar w debt investing (I come from a traditional BB IBD analyst background) - Do you still look at the industry? Try to anticipate trends? Do some qualitative analysis, read market / broker...
Analysts Going from Distressed PE to Hedge Funds? - Common for analysts?
How common is it for analysts at distressed PE shops (think Apollo or Cerberus) to move to a HF at the end of their two-year stint? Are they limited to distressed-focused HFs , or can they move to L/S, event-driven, and other types of funds? From what I've heard, the modeling skills and knowledge of...
Who is behind Distressed Debt Investing???
I do not expect to get an answer to this, but you never know so i'll test how small the world really is! One of my favorite sites is Distressed debt investing, Does anyone on here know who is the guy running it? Needless to say bananas and lot's of thanks for an answer....
Which opportunity is bettter long term?
Which option would you choose if you wanted to have better exit ops to hedge funds and top MBA chances. 1) BB Restructuring Group - does internal advisory on distressed situations. 2) Private Equity Real Estate Fund = about 12 ppl, make mezzanine investments. I like real estate, but more like a...
Restructuing/Distressed Clubs, Associations
I'm looking to join associations, clubs or the like focusing on corporate restructurings, distressed investing, high yield and so on. Would appreciate people's recommendations!
Credit Funds - Job Search Help / Advice
I have spent the past several weeks looking for opportunities with credit funds (both performing and distressed). With little to no progress made, I think I need some advice on how to find opportunities, gain traction, land interviews, etc. Thanks in advance for any insight. Background I spent three...
Buying distressed: microcap? Small businesses?
It is fairly common for the unsecured debt holders to end up controlling the equity as part of a restructuring. 1. Does this ever happen with small companies? Can
Emerging Markets Real Estate Private Equity Interview vs BB Lev Fin vs BB LATAM DCM
I'm currently in a really shitty group at a Middle Market IBank. Not in New York, New York hours and shitty compensation...
DCM To....
Hi Guys, Had some queries for people who are experienced in this area of expertise. I am a first year analyst at a top BB (think MS/ GS etc .) and I work in DCM within the high grade sovereigns team. While initially interested in this sort of work, I have found myself more interested in the...
Japan Distressed Investing
All: Don't mean to exploit a bad situation, as my heart goes out to those affected in Japan. However, I stood prudent while friends made money on past events such as Greece, Ireland, etc. When and where to put money in Japan?
learning distressed/special situations investing
how hard is it to learn distressed debt? my goal is to go to a distressed/special situations hedge fund, and i' m in ER right now. ER doesn't really prepare you for this so i wanted to see what thoughts people had. [let me preempt anyone who says it can't be done from ER . I realize it's harder than...
Trading vs IBD for Distressed Fund in Asia
For joining a distressed hedge fund focused upon investing in Asia: would a IBD analyst role (involving say 80% IPO , 20% M&A deal experience) a distressed debt trading analyst role have the upper hand in applying for an investment role with the fund? Thanks.
Credit / Distressed Fund Modeling Test
What are these interviews like? Specifically, if there was a modeling test, what kind would it normally be (straight 3-statement, PE-type LBO , or restructuring type)? If it's more restructuring / credit related, can someone shed some color on what that would be like? Thanks!
Aurelius Capital Management - more information about them and Ambac
Does anyone know anything about Aurelius? The only things I've found on them is that they're $2bn AUM and they're involved in the Ambac situation. I saw that someone asked about them earlier this year, but no responses.
Distressed M&A, a good place to learn?
What do you guys think about working in distressed M&A sector as your first internship into the IBanking sector? Is it a good learning experience or is it too specific?
Restructuring Recruiting
Background in distressed debt investing. In at top B-school. Looking to recruit for restructuring boutique and wondering how recruiting for these shops differs from the BBs . Also any thoughts on what the demand is from these shops as the economy is beginning to subside. I realize there is still a...
Distressed debt models
I am looking for a distressed debt model. Any help appreciated to locate a model that is available on line. If not a on line link, I would be happy to get any written material or book that can outline a working distressed debt model. Thanks for your kind help.
Miller Buckfire - Thoughts or comments?
Anyone have any thoughts on Miller Buckfire as a firm? Typical datapoints (ie comp, lifestyle, exit opps, etc) and/or any other relevant comments would be greatly appreciated. Thanks.
Elliott Management / Elliott Associates
What's the word on this hedge fund run by Paul Singer? They seem almost as secretive as Rentech. Anyone who has information to share - I would appreciate hearing it. Thanks...
PE Fund of Funds or Distressed Mortgage Shop
Hi, I recently posted a thread regarding offers, and I would like to ask for more advice from the community. I am currently deciding between a PE fund of funds (> $18 bn AUM) and a distressed mortgage buyer. People wrote that the distressed mortgage firm would have more opportunity, but it's very...
Advice on Choosing Offers
Hi all, I am currently in a position where I am choosing from some offers, and I would like some advice from the community to help me decide which one would be the best to choose. The first offer is for an analyst position at a PE Fund of Funds that has over $18 billion AUM and seems to be...
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