Why Diversified Experience in Credit is Your Ticket to Success in Today’s Market
Whereas H2 2023 and Q1 2024 were dominated by hiring and investment within Private Credit, recent activity here at Laz Partners has been focused on searches in the more Liquid side of the Credit space, a total sea-change from what we experienced last year.
As those who know our firm will have seen, many mandates that have come across our desks have tended to be within Public Credit across the spectrum (IG, HY, Distressed etc.). As such, this has meant that I too have had to diversify my areas of focus to meet the demands of our clients.
Interestingly, the need for me to branch out into different asset classes during 2024 has been mirrored by the candidates I have represented. Even in pure Credit Research roles, candidates have needed to either widen their sector coverage or the part of the credit spectrum that they cover to be a success. If Analysts or PMs take a more linear approach in their work, they aren’t demonstrating the required flexibility that the current market conditions require.
With the enormous capital raises made by the likes of Arcmont Asset Management, Ares Management Corporation and HPS Investment Partners, LLC in recent months to focus on Direct Lending strategies, firms have had to diversify their portfolios to include Special Situations and Opportunistic Credit to be able to compete. Even if operating within the mid-market, being flexible in terms of sectors in which you invest has been paramount to keep pace with competitors.
As such, if you are a candidate with blended experience across various transaction types within Credit, you are likely to be a highly sought-after commodity in today’s market. If this describes you, please reach out to me at [email protected] for a confidential discussion.
