Acquisition Finance / Leverage Finance Practice?

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Intervieweez
Posts: 3
Joined: Sun Sep 09, 2012 1:09 pm

Acquisition Finance / Leverage Finance Practice?

Postby Intervieweez » Sun Sep 09, 2012 1:18 pm

Considering taking a position with an acquisition finance group at a good firm in NYC. My understanding is that they do mostly borrower side work for equity sponsors (i.e. finance PE deals). I'm fairly familiar with general PE work, but I can't get a good read on this line of work.

Anyway have an experience or opinions? Hours/lifestyle (I'd imagine it's a lot like general PE)? Tasks of junior associates? General market conditions for the practice? Lateral/exit opportunities? Crossover with other practices?

Anonymous User
Posts: 273139
Joined: Tue Aug 11, 2009 9:32 am

Re: Acquisition Finance / Leverage Finance Practice?

Postby Anonymous User » Sun Sep 09, 2012 1:35 pm

Lifestyle is easier than doing the acquisition work, since there's no diligence. On the other hand, loan agreements are a lot harder to master. As a junior, youll be responsible for everything but the credit agreement. As you become more senior, youll be responsible for the credit agreement and commitment papers. As partner, you'll negotiate high level points with lenders.

Intervieweez
Posts: 3
Joined: Sun Sep 09, 2012 1:09 pm

Re: Acquisition Finance / Leverage Finance Practice?

Postby Intervieweez » Sun Sep 09, 2012 1:44 pm

Anonymous User wrote:Lifestyle is easier than doing the acquisition work, since there's no diligence. On the other hand, loan agreements are a lot harder to master. As a junior, youll be responsible for everything but the credit agreement. As you become more senior, youll be responsible for the credit agreement and commitment papers. As partner, you'll negotiate high level points with lenders.


That's helpful. Thanks.

Any comment on the general market for this type of work? Does it stop and go for months at at time like the deal work, or is it somehow more steady?

Anonymous User
Posts: 273139
Joined: Tue Aug 11, 2009 9:32 am

Re: Acquisition Finance / Leverage Finance Practice?

Postby Anonymous User » Sun Sep 09, 2012 1:55 pm

Intervieweez wrote:
Anonymous User wrote:Lifestyle is easier than doing the acquisition work, since there's no diligence. On the other hand, loan agreements are a lot harder to master. As a junior, youll be responsible for everything but the credit agreement. As you become more senior, youll be responsible for the credit agreement and commitment papers. As partner, you'll negotiate high level points with lenders.


That's helpful. Thanks.

Any comment on the general market for this type of work? Does it stop and go for months at at time like the deal work, or is it somehow more steady?


More steady. Borrowings aren't just for acquisitions. There could also be refinancings or distressed lending, for example.

Intervieweez
Posts: 3
Joined: Sun Sep 09, 2012 1:09 pm

Re: Acquisition Finance / Leverage Finance Practice?

Postby Intervieweez » Sun Sep 09, 2012 10:37 pm

Any comment on the market right now? Are firms growing or shrinking these practices.

lawloser22
Posts: 241
Joined: Sun Jan 16, 2011 12:18 am

Re: Acquisition Finance / Leverage Finance Practice?

Postby lawloser22 » Sun Sep 09, 2012 11:08 pm

Go with Latham, Cahill or Milbank and pm me.




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