Credit rates talent
Private credit firms, awash with capital, are splashing it around in order to secure the best talent. Compensation packages are becoming AAA-rated as credit managers look to expand their headcount to meet the growing demands of non-bank lending. It’s a nice problem to have but competition is bringing things to the boil with some instances of firms taking each other to court. By hiring young professionals, firms are looking to expand their origination and deal teams and put all of their fresh capital to work. Last year, private debt funds raised $190.9 billion according to Pitchbook although late reporting is expected to push this over $200 billion. With cash to burn, credit managers will be hoping that they allure the brightest minds and continue their expansion journey. Suddenly, private equity is no longer the de facto option for finance graduates.