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Profile Sanity Check - Breaking into FO/High Finance
Hey Monkeys, Just want a profile sanity check for my odds of breaking into a FO/High Finance role. Will have c2 yrs of full-time experience at a top BB in Leveraged Credit Have internships at a no-name Boutique HF and Investment Bank Will be joining a top target school in London to study MSc in...
Thoughts on Bridgepoint Credit London?
Any thoughts on Bridgepoint Credit in London? Heard they’re structured across Direct Lending and Opportunistic Credit, mostly investing in senior secured loans (~70%) and some junior/mezz/holdco PIK (~30%). Any views on WLB and comp would also be much appreciated.
LevFin
Does anyone have a leveraged finance training guide that law firms create for the training? basically, to understand where and how to set the covenants, etc.?
Regional Banks Levfin
Hi, I’m currently in a Corp banking role and recently got an offer for a levfin team at a RB/MM (Think Truist/53/Socgen). What is the consensus on the experience in these types of groups? I know the can vary a lot between banks, but would I have an opportunity to exit to a BB bank/private credit...
LevFin Traineeship
Hi all, I will be joining a European MM bank within their leveraged capital markets team in London. It is a 1 year long traineeship, with no guarantee of a permanent job at the end. You might be able to guess the firm I am joining based off of this, I know only a select few firms run these so-called...
How is LevFin and/or Private credit market looking in London? Lateral from European regional IB
Currently thinking about a lateral move from EU regional bank LevFin team (Top 1 in region) to London and mainly interested in LevFin and PC (restructuring and special sits also but a bit of a too long shot) and wondered how's the market looking like if anyone has insight? Much appreciated on any...
LevFin Analyst Salary Expectations
I am approaching year 2 of being a rotational analyst at a mid-sized Commercial Bank and will be completing the formal credit program in June 2024. At that time, I will have 1 full year of experience on the team I will be pursuing post-program, which is a lev fin role. What should I expect for...
Getting the most from MD one on ones
I’m currently ~12 months into the job as a LevFin analyst and I have monthly check-ins with my MD who has asked me to come up with how he can help me/what I want from these sessions. He does it with our broader team so this is ongoing and not something I specifically asked for. What would you ask...
LEVERAGED FINANCE EXIT OPS
Hi!!! Is it true that PE exit ops for LAF teams is very limited? Say for instance in a bulge bank such as GS or MS??
Is this the Black-Scholes of Private Equity?
Hey fellas, a couple of the guys in my city's networking groupchat (it'd be generous to describe these oafs as friends) started a Youtube channel and apparently they're able to solve for levered return really fast. They shared their first video in the gc earlier this evening. (This is their video...
LevFin MS JPM GS Exit Opps
Hey WSO, Wondering what the exit opps are from LevFin MS, JPM or GS groups are, which ones are better, and if it's still possible to go to an MF PE shop or pure buyout from a team like this. How would these compare to a FSG team?
What is the difference between Sam Bankman Fried's "FTX" and any other bulge bracket bank?
Why was Sam Bankman Fried's company "FTX" relocation of customer funds to separate financial ventures considered illegal but when the big bulge bracket banks do it, its legal? The big bulge bracket banks like Chase use money from customer deposits/savings to lend out in the form of Mortgages and...
Real estate vs Lev Fin Analyst Role
Upon completion of a rotational program this summer, I am having a hard time deciding between CRE and Lev Fin roles. I would be a senior analyst in either role for some context. I enjoy the complexity and constant learning in Lev Fin, where I feel CRE is pretty repetitive. I don’t mind the...
Views On BB Leveraged Finance (Analyst Program) In The Era Of Direct Lending / Private Credit?
Hey everyone, Was looking for advice — I'm currently doing FT placement at a BB and was wondering if it would be wise to return to the levfin group I interned at (vs. moving to coverage) given that most sponsor-backed deals seem to use direct lenders? For context, the coverage groups that I could...
Views on BB Leveraged Finance (analyst program) in the era of Direct Lending / Private Credit?
Hey everyone, Was looking for advice — I'm c urrently doing FT placement at a BB and was wondering if it would be wise to return to the levfin group I interned at (vs. moving to coverage) given that most sponsor-backed deals seem to use direct lenders? For context, the coverage groups that I could...
Follow passion in small VC or stick it out in LevFin
I'm about to graduate from a semi target (UMich, UCs, UT, etc.) and have a FT offer for a LevFin team at a BB in NYC. I interned there last summer and from my understanding, this was not an overall fulfilling experience (that is to say, the money and training was great, but I didn't find credit as...
UBS / CS LevFin post-merger
In the aftermath of the UBS-Credit Suisse merger, I am very interested in understanding the dynamics of the combined LevFin team. Historically, UBS was a sponsor-driven bank, and so was Credit Suisse (CS of course having a top-of-the-street LevFin team). I'm curious about the post-merger strategy:...
Jumping from Buy Side to Sell Side - LevFin vs Private Credit Role
Need some advice on making a career move, I'm currently at a boutique private credit shop for 2 years now, doing very interesting special sits and direct lending deals. However, comp is pretty bad and we just aren't closing any deals at the moment, none of the deals we bring seem to close. I believe...
Transitioning from Lev Fin Internship to Private Credit - Seeking Full-Time Opportunities
Hello WSO community, I recently wrapped up an internship in Leveraged Finance and have grown a profound interest in the Private Credit space. Having gained a strong foundation in analyzing credit risks and structuring deals, I'm eager to dive deeper into the direct lending and private credit market....
Pls Help - Mock Interviews for Debt Advisory/Lev Fin
Hey Fellow Monkeys, I'm reaching out with an interesting proposal - I would love some mock interviews for Debt Advisory/Lev Fin analyst roles . In exchange, you have the opportunity to tear an analyst a new one with zero risk. My background; top grade at UK semi-target, work in credit research for a...
UBS levfin vs financial sponsors (London)
I'm starting in a few months in London and have a high interest in the leveraged finance/financial sponsor teams. However, I am not sure how the groups exactly work in terms of who holds the pen on the models. I am aware that in the US based on LinkedIn they are grouped into the same group under...
PE INFRASTRUCTURE AT CANADIAN PENSION FUNDS (CDPQ)
Hello guys! Can someone please share their toughts on working in Infra PE at CDPQ (or similar) in Europe. Exit opps at analyst level (general PE)? Comp? etc..Why yes and why not. PLEASE
Opinion on Leveraged Finance teams on regional offices?
Hey everyone! Hope the market is treating y'all well (or at least not bad). Can anyone provide some color regarding the type of work and exit opportunities that are available to members of LDCM (LevFin) teams in regional offices (think Paris, Frankfurt, Madrid, etc)? I am thinking here big European...
Is LevFin client-facing?
Is LevFin client-facing? 2. What aspects of the technicals should I focus on when interviewing for LevFin (internship) positions? 3. What are some important qualities a LevFin banker should have? Thank you for your input in advance!
Private Credit to Leveraged Finance
Hello, I was wondering if the switch from Private Credit to Leveraged Finance is possible/easily done? I'll be starting an internship at a lower top-tier PC fund in Paris and would like to see which internships I can target afterwards. I know that PC is typically the exit from LevFin, but since I'm...
Debt Advisory lateral/exit
I will work in a debt advisory boutique and was wondering what the natural moves are after doing a stint in debt advisory. Naturally I imagine going to bigger shops is natural, but what about other debt teams such as LevFin? And is it common to go from debt advisory to private credit/debt funds?
2023 J.P. Morgan High Yield & Leveraged Finance Conference
Hi all, Is there somewhere online where I can find a list of participants (companies who presented) of this conference ? Searched online and found nothing of value. I am looking for a shift into Credit/HY/LevFin when the market opens up from my current role in M&A, hence why I am following this...
Resources for Leveraged Finance
Hi all - I will be starting an internship in a LevFin group this summer and was hoping to find more info on LevFin (primers, books, videos, news, etc.). Additionally, if anyone knows of older posts on this, please lmk (the search function is a pain to try and navigate). As of now, I have a few...
Unitranche clarification
Hey there, I am here to ask a clarification about unitranche debt, and why it is gaining so much success over "bank loans" in LBO financing: 1) Is it really cheaper? From my understanding Unitranche is priced at a weighted average (prolly not that simple) of the interest rates on single tranches, so...
What does it take to do a LBO in this market?
Sorry if this is a naive question. I was pitching a stock to a hedge fund alumni from my college and his response to my downside scenario was "the syndicated debt market is closed". I am not smart enough to know how bad the lev finance market has gotten but wanted to see if anyone can share some...
Where to learn about Lev Fins/ Private Credit (Relevent Modelling and Fundamentals)?
I am starting as MBA Associate at a Semi Large Private Credit Fund ($8B Fund). Pre MBA I was BIG 4 Accounting and had little experience with financial modeling or Lev Finance. I am good at interviews and was able to talk my way into the job. Would appreciate if anyone can share where would be the...
HELP!!! Leveraged Finance Internship BNP vs ING
Hello, I need your help for an internship choice in Leveraged Finance, with the idea of doing LevFin Origination/Private Debt on the long term (in Europe/London) 1) BNP Paribas Leveraged Finance Portfolio Management (6 months) 2) ING Leveraged Finance Origination (6 months) BNP is a top shop in...
Loans origination interview
Hello all, I'm currently a buy-side analyst covering liquid loans and have an interview for a sell-side (loans origination) position at a tier-1 European bank this week (associate level). Anyone here on the origination side would be willing to share some tips on topics to revise? In addition to...
HELP!!! Leveraged Finance Internship
CIB - GLOBAL BANKING - LEVERAGED FINANCE PORTFOLIO ANALYST Main activities: • Participation in the analysis and follow-up of LBO portfolio: - Work on internal credit paper and presentation to analyse: sector risks, companies’ and peers’ performance, leverage level, quotations on the secondary...
HELP! An offer and an interview at the same bank
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Private Credit / Direct Lending Analyst
Dear fellow monkeys,since I will be doing two internships in Private Debt in Frankfurt, Germany, next year, I was interested to hear your opinions regarding some questions that I will list below. To understand a little bit about the companies - one of them is a MM private equity fund with...
OFFER HELP
got no return from my IB SA this summer and am lucky enough to have following offers either in-hand or expected for FT 2023. all somewhat niche so trying to get a gauge on which one will position me best for a BB/EB IB lateral down the line. Really torn rn, anything helps. Offer 1: LevFin at a...
Advice: Lev.FIn Vs M&A BNP CIB
Hello, I received an internship offer in the LevFi & Acquisition Finance team of BNP Paribas CIB EMEA in Paris and also in their Real Estate M&A team (large cap ). Before that, I did two internships in Smid cap. I am very interested in leveraged finance and I would really like to discover the debt...
EMEA Leveraged Finance Group Rankings
Interesting year in Lev Fin where many banks have eaten huge losses. Which bank would you say has done the best this year in a tricky environment? EMEA only (so MS eating the Twitter $ losses doesn't count).
Nomura LevFin first round interview (SA) in London
I have my first-round interview next week. What kind of questions can I expect on the technical side? (Financing Solutions Group) I would be thankful for any insights!
CIT group/First Citizens in 2022? (post merger)
Only threads I could find on here are several years old. Anyone have up-to-date info on CIT since they merged with First Citizens? Looking for comp, hours, exits, etc. specifically for their Capital Markets/LevFin group in NYC. Thanks!
Wells Fargo Levfin
Looking for possible placement in the WF Levfin team, any insights on culture, deal flow, and exit op? I know they are present on the league tables but they don't necessarily lead the deals. How strong are they?
RX to LevFin?
I am an incoming analyst at an MM bank. I want to pivot my career into LevFin (have had brief exposure which I found very interesting) and potentially eventually Private Credit. I have the opportunity to intern at a boutique RX advisory shop (doing debt RX and distressed sale stuff, not insolvency...
Capital One Leveraged Finance - Diversified Industries
Have an interview with CapOne's LevFin group covering Diversified Industries. Does anyone have any insight into the perception of this group / hours? Understand they're more established in Healthcare, but interested to see if anyone has any thoughts.
LevFin deal flow?
With the likelihood of a recession hitting soon and debt markets drying up, it seems that the deal flow in LevFin is pretty dead. I got an offer to join a LevFin team in August/September but due to the above, I am not sure if I should aim for another team? Do you guys think the deal flow will be...
Project Funded by 100% Debt - IRR? MOIC?
So I'm currently working in a project finance model and I was asked to calculate investor economics if 100% is debt. I understand that both IRR and MOIC can't be calculated. - Am I wrong? - What other returns metrics can be used in this case of fully debt? To give the investor an idea of his/her...
BofA LevFin vs REGL vs Industrials
What do you guys think about the following groups at BofA? Which provides the best path for exit opportunities (PE/HF/MBA)?
LevFin WLB-focused Exits and Other Questions
Hi all. Incoming analyst at an MM IB hoping to get some insights from a professional in the LevFin space. I'm planning to do CorpDev after 2 years of banking as WLB is a big factor. My questions: Exit opps: What are some exits available to LevFin, especially WLB-focused ones? I've heard of special...
WTF is the point of low amort structures in DL/PC/lev lending?
Why not just do interest only? Can someone explain to me the purpose/history or regulatory background of low amortization deals? Explain it to me like I am an idiot (which I am). 1% of even 2.5% per annum is not materially reducing the commitment and credit risk…so I simply don’t understand why...
Urgent: JEF LevFin Offer (Lateral From M&A)
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