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Buy-side front office exit opps for lawyers
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<blockquote data-quote="Choux à la Crème" data-source="post: 110419" data-attributes="member: 21886"><p>Good day everyone! Yet another student asking about very distant career questions.</p><p></p><p>Does anyone have any insights into the feasibility of transitioning from commercial law to a front office position on the buy-side (investment management, hedge funds, private equity houses etc)? To clarify, this does NOT refer to going in-house as part of a company's legal team, but actively formulating investment decisions or managing portfolios. I am particularly interested in distressed debt or special situations investing, as it seems like legal expertise will be most valuable in those areas: e.g. using insolvency law knowledge to assess the recovery rate on bonds from an issuer at imminent risk of default. </p><p></p><p>Based on Wall Street Oasis and skimming profiles of people at Oaktree, Apollo credit division etc, it seems that such exits are not unheard of in the US but would similar opportunities be available for an E+W solicitor? This would most likely be at mid-level associate or beyond; open to MBA or CFA exams if necessary.</p><p></p><p>For context, my major was business with emphasis on quant and have experience with valuation thanks to a banking summer internship. Extensive connections in finance at junior level as most of my cohort have gone into IBD/asset management, albeit none in the distressed debt or special situations space. Magic circle training contract lined up.</p><p></p><p>Obviously rather early days, but would be very appreciated to have some light on what options are available to me in the future!</p></blockquote><p></p>
[QUOTE="Choux à la Crème, post: 110419, member: 21886"] Good day everyone! Yet another student asking about very distant career questions. Does anyone have any insights into the feasibility of transitioning from commercial law to a front office position on the buy-side (investment management, hedge funds, private equity houses etc)? To clarify, this does NOT refer to going in-house as part of a company's legal team, but actively formulating investment decisions or managing portfolios. I am particularly interested in distressed debt or special situations investing, as it seems like legal expertise will be most valuable in those areas: e.g. using insolvency law knowledge to assess the recovery rate on bonds from an issuer at imminent risk of default. Based on Wall Street Oasis and skimming profiles of people at Oaktree, Apollo credit division etc, it seems that such exits are not unheard of in the US but would similar opportunities be available for an E+W solicitor? This would most likely be at mid-level associate or beyond; open to MBA or CFA exams if necessary. For context, my major was business with emphasis on quant and have experience with valuation thanks to a banking summer internship. Extensive connections in finance at junior level as most of my cohort have gone into IBD/asset management, albeit none in the distressed debt or special situations space. Magic circle training contract lined up. Obviously rather early days, but would be very appreciated to have some light on what options are available to me in the future! [/QUOTE]
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