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Direct Lending/Mezzanine Firms In DC
Hey folks - I've been trying to look online but can't seem to find a full list anywhere. Does anyone has a list of direct lending and mezzanine firms in the Washington DC area? Any info helps. Thanks!
2022 Private Credit List
Hi all! I am a junior interested in private debt/private credit space: direct lending, mezzanine, distressed, opportunistic, etc. I am looking for internships/full time analyst roles within the space and wanted to compile a solid list of funds (public bdc, private bdc, other private lenders w/o bdc...
Joining a Private Debt shop from vanilla LevFin. Any resources for learning the basics of mezz/pref/subdebt?
I'm starting a new role at a credit shop that is focused on lending up and down the cap structure. My read is they do everything from unitranche down to mezz, pref, and equity coinvests. I'll be joining from a bank's LevFin team where I really only worked on more vanilla stuff like 1L term loans,...
Family Business Buyout
Hey All, Apologies in advance for the long post, but I'm in an interesting situation. I'm currently working in a Corp Dev job (about 3 years out of school), but have had serious talks with my grandpa to join his business - think Specialty Industrials company with highly engineered products, does...
Mezzanine Balance | Paper LBO Model
I am not familiar with mezzanine financing but I am interested in knowing why the outstanding balance in Option B of the model keeps increasing each year (45 in Y1 to 50 in Y5). I thought it would stay at 45 and I would only pay the 12% interest each year. Clearly there are some payments going on as...
Put Right in Debt-Like Pref
This is not a thing, right? I'm just imagining it as a mezz loan. Why would anyone accept mezz with that feature? Seems like you are giving the company away to a potentially predatory party, especially because, in an EOD, the investment will most likely be structured to sever the existing equity if...
Q&A: BB LevFin - Mezzanine - Opportunistic PE
About I have been a longtime WSO reader (6-7 years) and some years down the track, I thought it would be helpful to do a quick Q&A I think this could be helpful in particular for (i) those looking to switch over from credit to equity investing, (ii) those interested in mezzanine / sub debt, and...
Free List of Mezz Funds
Hey guys, I stumbled upon this database of mezzanine funds and thought you monkeys might get some use out of it. Posting in the PE forum because I came across it when looking for capital providers to expand financing relationships at my old shop, but I'm sure it can also be leveraged for recruiting...
Mezzanine vs Preferred Shares
Hi guys, 4 easy questions for the pundits here :) 1. Is it usual that a "growth equity investment fund" charges an arrangement fee? 2. What's the difference between a Mezz lender and Growth investor that wants to invest via participating preferred shares which resembles a PIK term loan + warrants)...
How much am I underpaid (mezzanine fund)?
I'm a VP at a mezzanine fund based in a metro area similar to Minneapolis / Denver / Milwaukee / St. Louis. I have 6 years of corporate banking and debt capital markets experience, 2 years in investor relations at a $2.5B PE fund, and 2 years experience in mezzanine funds. I make a salary of...
How to reach out to Mezzanine Debt Lenders?
My firm is talking with a potential client for M&A advisory. They sound like they want an MBO, but I've only seen outside firms buy other companies. I know this will probably be a leveraged buyout and I've seen that process, but I don't know about the potential need for mezzanine lending. How do you...
MM Mezz Fund Internship
Hi guys, Do you think it is feasible over 6 months to be brought up to a competent Associate / Snr Analyst at a 4/5 person Mezz fund, with limited debt experience? I have an offer and need to consider day-to-day, how difficult is the job to be brought up to scratch in order to convert to full-time.....
Recent Mezzanine Rates
Does anybody know where to locate recent mezzanine debt rates/pricing? I'm trying to find a range of recent rates but have not been able to find anything. Thanks.
Debt fund returns / IRR
Hello all, I have a presentation from a growth debt fund which invests in senior debt in small early stage companies ($15-30MM tickets). They talk about 15+% gross IRR (YTM) (before carry and management fees). Now, when looking at the investments they have done so far, it always seems to be debt...
Portfolio Analyst Compensation - Middle Market Financing Firm (Senior / Mezz Fund)
Anyone have any insight into compensation? Tasks include: (i) monitor portfolio, (ii) analyze portfolio company financial statements, loan covenants and other credit factors, (iii) prepare financial updates and quarterly valuation materials for investment team, and (iv) participate in new...
Credit Question
Hedge funders, I'm a credit analyst underwriting bank debt and looking to get some exposure to how the underwriting for bank debt differs from investment grade bonds, high yield bonds, and mezz debt. Does anyone have recommendations on blogs, articles, books, or otherwise to get some exposure to...
Starting a mezz fund
We've funded a few sub notes through one or two of our investors before, but now the rest of our investor network is interested in participating so we're putting together our own little mezz fund. We've just started the process - drawing up an LP agreement currently - but I don't think any of us...
PE/Mezz from a bank (not ibank)
I'm a 2nd year analyst at a large bank (think JPM , BOA, WF). I'm not in ibanking - we target the middle market and provide bank debt facilities >$35MM, mostly used for M&A but also can be direct to the Company. I want to find a pre-MBA associate role with either a PE or mezz debt fund (I actually...
Capital Markets / Mezzanine Groups
All, Thank you in advance.
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...
Mezzanine financing question
Question about mezzanine financing: So, I have this mezzanine financing, coupon payments are 10% cash, 5% PIK and there are warrants for say 10% of equity ownership. My question relates as to how do I evaluate this deal? What do warrants represent in a typical PE mezzanine deal? Is it a right to...
Mezzanine/Credit Funds
What are the best groups to get into at a BB to get into a mezz fund or a credit HF ?
Mezz fund interview
Hey guys, I'm a 2nd-year DCM analyst with an interview lined up at a small (
Disillusioned with PE - switch to Mezz?
I work at a top-tier MM PE firm and honestly, I've become a little disillusioned with the amount of shit I have to deal with. Don't get me wrong, my hours are not considered terrible (probably 60-70/week, no weekends), but the entire execution of the deal process is nauseating and repetitive. Since...
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...
Mezz or Distressed Debt Funds in Boston?
Does anyone know of any good firms in Boston that focus on debt?
Mezz Debt & Capital Structure
Oasisers, I was looking at a capital structure that was comprised of 2 tranches of senior debt and 3 tranches of mezz below it. The interesting part is that the 1st piece of mezz after the 2 senior tranches has the lowest interest rate in the entire capital structure 6.10%(mezz 1), while the 2...
What's the difference between privately placed HY bonds and Mezzanine?
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How do Mezz funds make $$$?
They, as the buyout funds, will probably raise a certain amount of money (equity) from institutional investors and provide (invest) that money to PE funds who want to leverage even further their equity returns (above what they would get in a senior debt only deal). So the mezz fund is nothing more...
Structured Finance, Mezzanine, Exit Ops, and Capital Market
From my research, it seems Structured Finance and Mezzanine have pretty good exit ops in hedge funds. But they also are sometimes considered part of Capital Markets, and Capital Markets are considered bad for exit opts. Can someone clear up this confusion? Also LevFin has good exit ops, but LevFin...
Sources for raising initial capital
Hey, I'm doing some research into the different avenues for raising capital for a new fund. Would anyone have any insight into whether anyone specialises in providing fund capital? More specifically a mezzanine fund. From what I've seen so far the options seem to be placement agents, distribution...
Mezzanine Funds / Solar Capital
Hey - How do the people on this forum think about Mezzanine funds (i.e. the guys who put in junior debt capital alongside sponsors in private equity deals, but also in other situations)? I am looking for anybody that works there or works with these types of funds to talk about what exactly they have...
Biggest mezz funds
I'd like to come up with a list of the biggest mezzanine funds out there. i'd appreciate if you guys could just throw some names at me of funds that (exclusively) provide mezzanine capital to firms.
Modeling debt
Friends, Which sources do you use to learn spreadsheet modeling of debt (senior, sub, revolver, LoC, Mezz etc) ? And then computation of ratios - Fixed charge coverage, Debt-to-Total Capital, Interest Coverage etc and if the borrower is going to trip a covenant or not ? Vix
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