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Restructuring - Advice
Hey Everyone, I was wondering if you all had advice on how to prepare for a summer internship restructuring role. I'm going to try to read Moyer's "Distressed Debt" book, but are there any other tips you have? Are there any online courses I could take? Any help/advice is much appreciated - thank...
Breaking into Restructuring, Non-Target Undergrad
Top restructuring groups include the following (correct me if I'm wrong) Blackstone Lazard Houlihan Lokey Evercore Greenhill Perella Weinberg Moelis Rothschild Jefferies Questions: 1: In order to get into restructuring groups at these banks, is there a separate recruiting process, or do you just get...
Importance of Pre-MBA experience in Post-MBA associate recruiting
I missed the boat on banking out of undergrad and joined an FLDP program and now work in FP&A at a Fortune 100. I’ll be applying to MBA programs this year, and I’m interested in associate positions post-MBA. How hard is it to get into a good firm from a Top 15 (but probably not Top 5) MBA...
Valuation vs. Restructuring vs. Transaction Advisory Services vs. Financial Due Diligence
Can someone provide a high level overview of the similarities and differences between the following service areas of financial consulting: Valuation, Restructuring (consulting), Transaction Advisory Services, and Financial Due Diligence? I know the Big Four has a pretty strong grip on all of these,...
Q&A: I'm a London-based Distressed Debt Analyst
I did 1 year at one of the top restructuring shops (BX, HL , Moelis etc) and then moved on to a credit fund. I've been here for 1.5 years and love every minute of it. We've historically focused on the distressed/special sits (control and non-control) space but given the drought of opportunities (in...
Consultant Ding in Future?
Hello, I am currently working as a consultant (1 year out of college) at a top restructuring consulting firm and I'm looking to get into PE . I can do all the modeling and financial analysis, however I have heard that I should go back and restart as an Ibanker not just to get into the funnel but...
Turnaround/restructuring consulting --> distressed/deep value investing?
It seems like the general consensus is that folks move to, or are capaable of moving to p/e following a stint in a operational consulting role. Is it unreasonable that this could lead to a deep value, distressed, or micro/nano-cap investing role for public equities? Thanks for taking the time.
Best Restructuring teams in London
For the European monkeys out there; Which teams seem be doing best in the restructuring space nowadays? Am I correct in assuming that these are mostly HLHZ , BX (or PJT already?), Moelis, Lazard and maybe Rothschild? Will BX restructuring guys stay after merger with PJT? Which of them seem to be...
How to identify recently bankrupt companies?
Right now I'm searching for companies in distressed situations and have filed for protection. Time is of essence. I was wondering if anyone knows how to track updates on bankruptcy filings? I don't want to miss anything in the US and Canada.
Restructuring in Canada vs U.S.
Hi all, I'm interviewing for a FT off-cycle restructuring banking gig based in Toronto, Canada. I understand U.S. restructuring in terms of what the process is for chapter 7 and 11 (12,13)... but is it the same in Canada, in terms of the general idea of a specific chapter. For example, chapter 7 US...
Blackstone Restructuring Advisory
Hey guys, Anyone knows of some good source to learn about BX 's RX practice? A person high up the ranks invited me for a talk. It should be pretty casual, but I might be considered as a potential candidate as I was asked if I was interested in that division. I have some knowledge about RX from work...
In Need of Advice- IB Restructuring
Hi All, I am a sophomore with BB IB internship this summer. Long term I am interested in Distressed Debt/Securities Investing and I understand that Restructuring Investment Banking is the best platform to jump to this field. However, from the news and various conversations I have had the future for...
Guggenheim (M&A) vs. Houlihan Lokey (Restructuring) for Summer Analyst
Hey guys, So I just finished up my cycle for SA recruiting and I have two offers to choose from: Guggenheim generalist and Houlihan Lokey for restructuring. What do you think is the better opportunity in terms of prestige/compensation/culture/intern offer rate/exit opps? The most important thing for...
The art of Distressed M&A - is this cheap impossible?
http://www.aliexpress.com/item/The-Art-of-Distressed-M-A-Buying-Selling…
Credit Risk Underwriting to Restructuring
With a background in Corporate Credit Risk Underwriting / portfolio management (Credit analysis of bank's loans and capital commitments), is it feasible to try and break into restructuring group given experiences from the creditor's perspective and underwriting the loans / syndication with the...
Debt-for-Equity / Restructuring - Value Question
Was looking at recent restructuring situation and am trying to get my head around whether you can imply a current valuation for a business pre-rights issue, in which part of the rights issue was done via a debt-for-equity swap. In this case, the total debt stack of the business consists of a $700m...
Distressed Sovereign Debt Investing Resource
Hey guys, Looking to do some reading and learn more regarding investing in distressed sovereign debt. Obviously a pretty specific/niche area so I would appreciate any reading materials or resources that anyone can suggest. Thank you in advance.
Restructuring Group Superdays LA SA2015
Anyone hear back regarding SA 2015 offers from HLHZ 's LA office restructuring group? Superdays were late last week. Thanks
Determining Working Capital/Minimum Cash Levels
Can anyone shed any light on best practices for determining a reasonable estimate of a company's working capital requirements? - I'm mostly interested in this in a restructuring context for adjusting a company's working capital when it gets out of wack due to financial distress. Also interested if...
Best restructuring / turnaround PE shops
Hi Looking for very good restructuring shops a la SVP - anyone working in similar shops (distressed / turnaround PE) and can share experience? Thanks
Distressed Private Equity Funds
What can you expect to do at a distressed private equity fund? Does that mostly involve operational restructuring and assets disposal or is it more about renegotiating the debt?
How to Prepare for Restructuring Technical Questions
Mod note: This comment was originally posted in the thread "Restructuring Technicals" here . Many users found it useful so of course it would get front-paged. Enjoy! Click here to see more top rated comments. Restructuring Interview Prep Resources Stephen Moyer's Distressed Debt Analysis, while...
Avenue - case study
Happy Friday all, Looking for some colour on the case study / process at Avenue for jnr analyst / associates (specifically London). Cheers,
From restructuring advisory to distressed hedge fund - post MBA
Hey guys - I'm an MBA at Wharton right now. I want to end up at a distressed hedge fund but did not do banking before (been in finance before but not i banking). How good are my chances of being able to make a move to a distressed hedge fund after working as an associate at one of the top...
Big 4 restructuring vs. banking restructuring (and exit ops)
Hey guys, 1. What are the main differences between Big 4 restructuring and restructuring at a bank? I have heard of one Big 4 Restructuring group doing doing distressed M&A deals, but do all of them do this? 2. Does anyone have any insight into exit ops from Big 4 restructuring? Do some exit into...
What do restructuring bankers do on the creditor side?
I think I have an understanding of what restructuring bankers do when working on the debtor side - identifying and obtaining the proper financing to restructure debt, avert/get through/emerge from bankruptcy, advise on distressed sales, determine proper distribution/waterfall, etc. But what specific...
Looking to Trade My Models for RX Models
I'm looking for some RX models to study, and I'll happily trade some of the models I have in return. Please let me know via PM if you have anything to trade. Some of the stuff I am looking for: Distressed M&A Thirteen Week Cash Flow Payment in Kind Equity Cushion SOTP Some of the stuff I have: Tech...
FTI Restructuring Interview
I have an interview coming up for FTI Consulting (Boston, NYC one of those area), specifically in their restructuring group. Just wondering if you guys know much about the firm's culture, day-to-day role and type of questions I should be expecting for the role? Thanks alot!.
Changing from Law
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Financial Adviser vs Legal Adviser in Restructuring
I was hoping someone involved in restructuring/bankruptcy could shed some light on the responsibilities of these two groups in the bankruptcy process? Financial adviser meaning, say Houlihan, and legal being the law firm. And then where do the consultants like Alvarez and AlixPartners come into...
Deloitte CRG vs. Deloitte Corp Finance (Distressed M&A)
Looking for some insight if anyone can help me. I just got hired by Deloitte to start next year doing Financial Services tax after I graduate. While I enjoy tax (to the degree one can enjoy it), I'm trying to plan ahead for my next move, which is probably 1-3 years down the road. I was looking at...
Similarities between Leveraged Finance and Restructuring?
What are the similarities between Leveraged Finance and Restructuring? I've noticed that many RX groups are housed under the LevFin group at BBs - with this I'm inferring that both divisions share similar skillsets? However I just can't see how understanding of HY Debt has anything to do with RX ....
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GS IBD to Blackstone R&R
Hey all. I am starting at GS IBD next week at one of the top groups as a FT analyst. While I am really happy about this, I do feel that restructuring is really interesting and would love to do that at Blackstone . I don't know anyone at Blackstone , however. Would it be possible to switch from GS to...
Ways to screw the bonds in a restructuring
What are a few examples of things you could look for in bond (or loan) docs if you're advising the debtor in a restructuring? One example might be what's the % consent required for a covenant waiver / strip? You could then buy that amount of bonds, strip the RP test and pay all your cash out of the...
Need Advice on Achieving Goals
Hi all (TL;DR version at the bottom...apologies for the length), I'm about to pursue a masters of accounting degree because I was initially very interested in corporate work, but recently, I'm having a change of heart and need some advice on how to attain my new goals. A bit of background on me:
Learn restructuring & bankruptcy modeling
I am pleased to announce that Wall Street Prep 's Restructuring & Bankruptcy Modeling Training is now available as a $399 self study program. This program is an adaptation of our live training at investment banks and business schools. I think it's a great program for anyone looking to understand how...
Goldin Associates
Anyone heard of them, they do restructuring mainly? If so, can you please comment on their culture, pay, growth opp, interview process for Analyst roles, etc.? Thanks.
What do restructuring bankers do in London....
.......thats so different to those in Big 4 restructuring? Now bear with me for a second, this is a serious question. It may be different in the states but it seems in the UK the big 4 get some of the biggest bankruptcy/insolvency cases. PwC got Lehman and EY got Nortel for instance. So what would...
Houlihan Lokey Dallas Office
Is anyone familiar with Houlihan Lokey's Dallas Office? I'm wondering if any financial restructuring work takes place there or is it more geared toward corporate finance / Financial Advisory? Would be really helpful if someone has worked / works there. Thanks for any insight, Andy
Restructuring Focused Group Rankings
So how would you guys rank these banks strictly based on opportunities to Distressed Hedge Fund/ PE firms? I figure Blackstone and Lazard are at the top, but I have an opportunity to pursue with a couple of the firms listed below and wanted to see where it sizes up: Evercore Moelis Centerview P J...
Sun Capital / turnaround PE case study
Has anyone done the Sun Capital case study, or any turnaround / distressed PE case study? Any color is helpful, thanks.
rx to bschool
How does rx place into bschool? I was thinking a decent shop like millstein or Miller Buckfire ?
Turnaround Management Association Events?
So I recently discovered TMA and was searching through their events directory... they have one tomorrow night in New York featuring a ton of restructuring consulting firms and law firms... my question is, for anyone that has been to one or knows anything about it, is it at all beneficial for a...
Restructuring: Creditor vs. Debtor advisory
Is there a big difference between working for a restructuring firm that specializes in advising creditors vs. debtors in terms of quality of experience, work load, exit ops, etc? I understand that the work might be more intensive advising a debtor while on the creditor side, you're just waiting for...
Restructuring process
What is the restructuring process like?? What are the steps and why?
Goodwill Created in a Debt to Equity Restructuring?
I'm reading through the Scheme Explanatory (i.e., document which sums up the restructuring for the creditors prior to signing the scheme of arrangement (UK law)) and in the pro-forma balance sheet goodwill has been created. How? This is a debt for equity restructuring from a few years ago, mezz/2nd...
Restructuring, Valuations or FSR?
Hi all. I have been working as a consultant at a Big 4 for over a year. I am currently mapped to a group that mostly focuses on technology consulting, therefore I am planning on transferring to a group that is more finance focused and eventually (after 3-4 years) move into finance. So far, I have...
Here’s the Low Down on Houlihan Lokey
FAS Group: Corporate Finance: Restructuring: More Down Low: www.wheninfinance.tumblr.com Follow us on Twitter: https://twitter.com/#!/wheninfinance
What do FIG bankers do?
Reaching out to an FIG banker at a BB . If a "why FIG?" question is asked would it be intelligent to answer by saying something along the following lines: "FIG is a group that has good deal flow most of the times. In bear markets ==> restructuring, and in bull markets ==> new products, IPOs etc....
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