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21 Aug 2010, 18:09
Kudos
Bookmarks
Hi all,
Doing some research on firms that invest in distressed/turnaround opportunities and was wondering if any of the banks invest in these situations. I can find bank-sponsored funds that look at LBOs and growth capital, but nothing on distressed. Am I missing something, does anyone know of any examples?
Any help is much appreciated. Thank you.
Doing some research on firms that invest in distressed/turnaround opportunities and was wondering if any of the banks invest in these situations. I can find bank-sponsored funds that look at LBOs and growth capital, but nothing on distressed. Am I missing something, does anyone know of any examples?
Any help is much appreciated. Thank you.
25 Aug 2010, 10:18
Kudos
Bookmarks
Distressed is a really mysterious world. It feeds off restructuring divisions within Investment Banking for its lowest level recruits (post Analyst or post MBA). There are crap-loads of distressed Hedge Funds popping up right now, but you need to know CDOs inside out to be able to play in that field. The are desks within all major banks that cover this for S&T which is probably the best feeder in - you really need a structured big employer to teach the ropes and then a shift when it works.
You need really strong accountancy skills for this career path.
I have maybe one friend who made it into turnaround consulting without doing IB (he got hurt by the whole TARP thing), but then he had worked for Altman for two years, which kind of helps.
Just remember that distressed is super-cyclical and the current beauty will probably have lost its looks by the time you finish an MBA.
You need really strong accountancy skills for this career path.
I have maybe one friend who made it into turnaround consulting without doing IB (he got hurt by the whole TARP thing), but then he had worked for Altman for two years, which kind of helps.
Just remember that distressed is super-cyclical and the current beauty will probably have lost its looks by the time you finish an MBA.
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