Dec 02, 2022

London Private Credit Firms and Themes

I’ve seen some insightful threads recently on the London private credit scene, but I’m hoping to understand some more firm-specific details.

Any info on the performance, culture (especially hours), pay (relative to street is fine), and any other details would be appreciated on the below firms/groups:

Blackstone/GSO

Bain Capital

Goldman Sachs AM 

Schroders

Partners Group

PIMCO

Ares

and any other strong firms (special situations info also appreciated).

if there are trends like if PC groups of US MFs pay more than EU firms etc then that would be great to know. Hopefully compiling a mega thread of London PC will be helpful to many.

Cheers in advance!

Muff

 
Most Helpful

For Bain cap: now it's divided in 2, credit (with liquid strategies, ie. CLOs and pull to par, and PC), and special sits (divided into Corporate / RE & NPL). The first one has decent returns, but work isn't that interesting from what I heard, but excellent culture. the SS has been underperforming (other than the vintage 19 fund which has bene doing ok), but it's a way more interesting job, in particular corporate ss, where you have a super flexible mandate (loan to own, stress, distress and growth capital, LBOs, LO public bonds and equities etc.). Heard few unpleasant things on the culture tho. Source: one of my best buds used to work in one of these team

 

Seems a bit of a broad topic but just a couple of points. (1) Yes US firms pay better than European's (2) Not sure why the list includes Schroders (unheard of in PC and irrelevant anyway) and PG (mostly followers to bigger funds). (3) List should def include Park Square, HIG Whitehorse, Bridgepoint Credit (fka EQT Credit) in the MM space and, as someone already mentioned, HPS, KKR and Apollo in the large cap space.

If any specific questions, happy to help (not gonna respond about culture / hours for all funds…)

 

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