Overview for Centerbridge, Angelo Gordon, Silverpoint, Diameter, Farallon and Oaktree needed.
Dear all,
I hope you are well.
I was hoping someone can provide overview of the above. While there have been some mentions of Centerbridge, Silverpoint and Oaktree, I had difficulties finding any useful information on the other firms.
I have collected some notes below:
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Centerbridge Partners:
- Strategies: Private equity, distressed securities, credit investments.
- Credit/Debt Focus: Invests in distressed debt, credit opportunities.
- Industry Standing: Originated in distressed/credit space. Faced some issues down the line and currently slightly more popular for private equity.
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Angelo Gordon:
- Strategies: Distressed debt, real estate, private equity.
- Credit/Debt Focus: Specializes in distressed debt and credit investments, often involved in opportunistic decision
- Industry Standing: Established reputation in distressed debt and alternative investments. Well regarded and employees often described as very smart
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Silver Point Capital:
- Strategies: Distressed debt, special situations, event-driven opportunities (some equity)
- Credit/Debt Focus: Focuses on distressed debt and credit-related investments.
- Industry Standing: Recognized expertise in distressed debt and event-driven strategies. One of the most well regarded places on this forum. Offer brutal learning curve for seniors and employees are regarded as one of the best in the industry
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Diameter Capital Partners:
- Strategies: Distressed and event-driven opportunities across public and private markets.
- Credit/Debt Focus: Invests in distressed debt and structured finance.
- Industry Standing: Emerging player with a focus on active management and value creation. Include both research and active trading (most investments are public market).
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Farallon Capital Management:
- Strategies: Credit, equities, real estate, distressed debt.
- Credit/Debt Focus: Invests in distressed debt, corporate debt, and credit opportunities.
- Industry Standing: Generally well-established with a diversified approach across asset classes. However, they are much better positioned in fundamental equity than distressed/credit situations.
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Oaktree Capital Management:
- Strategies: Distressed debt, corporate debt, real estate, value-oriented investing.
- Credit/Debt Focus: Specializes in distressed debt and credit opportunities.
- Industry Standing: Highly regarded for its distressed debt and value investing expertise
If any one has any more concrete info I would massively appreciate it. Specifically about industry standing. How good are they and would you consider working there, specifically in terms of learning, culture and exit opps (also outside of finance). Happy for you to include Comp in your decision, but unless they significantly +/- 20% differ from market I dont care.
Based on the highest ranked content on WSO, here's an overview of the firms you're interested in:
Centerbridge Partners: - Strategies: Focuses on private equity and distressed securities, with a significant presence in credit investments. - Credit/Debt Focus: Known for its investments in distressed debt and credit opportunities. - Industry Standing: Initially made its mark in the distressed/credit space but has since encountered some challenges. It has a strong presence in private equity. - Learning and Culture: Offers a robust platform for learning, especially in distressed investing and private equity. - Exit Opportunities: Provides solid exit opportunities in finance, particularly in private equity and credit funds. - Compensation: Generally competitive with market standards.
Angelo Gordon: - Strategies: Engages in distressed debt, real estate, and private equity investments. - Credit/Debt Focus: Has a specialty in distressed debt and credit investments, with a reputation for opportunistic strategies. - Industry Standing: Well-regarded in the distressed debt and alternative investment space, known for having very smart employees. - Learning and Culture: Recognized for a strong learning environment with a smart and driven team. - Exit Opportunities: Good exit opportunities given its reputation in the industry. - Compensation: In line with industry standards, with variations based on role and performance.
Silverpoint Capital: - Strategies: Specializes in distressed debt, special situations, and event-driven opportunities, including some equity investments. - Credit/Debt Focus: Has a strong focus on distressed debt and credit-related investments. - Industry Standing: Highly respected for its expertise in distressed debt and event-driven strategies. Known for a rigorous learning curve and top-tier talent. - Learning and Culture: Offers a challenging environment that is conducive to professional growth. - Exit Opportunities: Excellent, given the firm's strong reputation and the caliber of its professionals. - Compensation: Competitive, reflecting the firm's standing in the industry.
Diameter Capital Partners: - Strategies: Invests in distressed and event-driven opportunities across both public and private markets. - Credit/Debt Focus: Active in distressed debt and structured finance. - Industry Standing: An emerging player known for active management and value creation, with a significant public market presence. - Learning and Culture: Provides exposure to both research and active trading, offering a dynamic learning environment. - Exit Opportunities: Promising, especially in public markets and active trading roles. - Compensation: Expected to be competitive for its market segment.
Farallon Capital Management: - Strategies: Diverse strategies including credit, equities, real estate, and distressed debt. - Credit/Debt Focus: Engages in distressed debt, corporate debt, and various credit opportunities. - Industry Standing: Well-established with a diversified approach, stronger in fundamental equity than in distressed/credit situations. - Learning and Culture: Offers a broad exposure to different asset classes and investment strategies. - Exit Opportunities: Broad, given the firm's diversified strategies and established reputation. - Compensation: Generally aligned with market rates.
Oaktree Capital Management: - Strategies: Renowned for distressed debt, corporate debt, real estate, and value-oriented investing. - Credit/Debt Focus: A leader in distressed debt and credit opportunities. - Industry Standing: Highly esteemed for its expertise in distressed debt and value investing principles. - Learning and Culture: Known for its intellectual rigor and disciplined investment approach. - Exit Opportunities: Excellent, particularly in distressed debt and value investing fields. - Compensation: Competitive, reflecting its leadership position in the industry.
When considering working at these firms, factors such as learning opportunities, firm culture, and exit options are crucial. All these firms are highly regarded and offer substantial learning experiences. The culture varies by firm but is generally described as intense and intellectually stimulating. Exit opportunities are strong across the board, with some variance depending on the firm's focus areas. Compensation is typically market-competitive, with variations based on specific roles and individual performance.
Sources: Thoughts on Diameter, Farallon?, Thoughts on Silverpoint Capital?, MF Credit vs. MS/GS SA 2023 Offer, Breaking down distressed funds by strategy, PJT RSSG vs. Evercore M&A
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