Acquisition Finance / Leverage Finance Practice? Forum

[Intervieweez]

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]

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]

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]

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]

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

[lawloser22]

Go with Latham, Cahill or Milbank and pm me.