Futura Search Partners

Election... Dust has (sort of) settled now on a republican win and possible clean sweep. Which area of the finance/Investment world do we think is set to benefit the most from the expected policies of a Trump-led government?

Election week! A critical time for many and absolutely an interesting one from my point of view. Economically speaking there are pros and cons to be derived from a result falling either side of the fence. But something i'm certainly confident in, is that the short-medium term effect on the private credit marketplace is unlikely to change the trajectory it is on. No doubt some industries will be affected adversely and some positively by whatever this week's results are, but ultimately so long as the economy doesn't collapse as a result, private debt solutions will still be in demand and will continue to grow.

I've had a lot of conversations with candidates and clients in the Private Credit market over the past couple of weeks and many of these have lead to discussions on hiring trends. I alluded to this in my last post regarding the new mandates we received last week, but there is certainly a feeling that Mid-to-Senior level hiring has been taking a back seat over the last 12-24 months. The fight for good Associate level talent is evergreen, but VP, Director and even MD moves have been slower than is typical. I have some theories on why this is, but they are purely speculation, so i won't put them out there. One thing i am confident in saying, is that there are a lot of talented people at these levels who are keen for a move or some form of progression. Having sat in-role for a year or so longer than they would have liked - 2025 is the year of the VP/Director move. Combining this with the constant changes at Associate level, it is going to be a liquid talent market! If you'd like to discuss this in a bit more detail, about your own career or hiring plans/concerns for your team - please feel free to get in touch - always happy to have a discussion - James@futura-sp.com

If you're experienced in Private Credit/Direct Lending Portfolio Management, Loan restructuring and workouts - please get in touch. This is a fantastic opportunity to join a firm that is fast-becoming an industry leader.

Futura Search Partners will be releasing a Private Credit compensation report in the coming days, delivering detailed comp ranges on base, bonus and carried interest. If you'd be interested in receiving this report, drop a like/comment on this post or email me at James@futura-sp.com

"I believe next year (2025) will prove to be a strong vintage year for Direct Lending funds as the stars are aligned. The LBO machine will turn it up a notch, Fed is easing rates/credit conditions, default rates will decline, and corporate earnings and GDP are trending well." Confidence inspiring words from Marathon Asset Management's CEO Bruce Richards. While the high-interest rate environment has meant bumper returns for private lenders over the past few years, things have started to get very competitive in relation to capturing and closing deal flow. These macro factors that Bruce eludes to in his latest Linkedin post, do point toward even more need for financing on the horizon. Exciting times ahead.

I've had the opportunity to speak with a good number of new candidates in Private Credit over the past week or so, and there have been some interesting similarities.... ✍ More candidates are looking to move away from the "vanilla" direct lending strategy and get involved in the more interesting world of non-sponsored, special sits or opportunistic strategies. ✍ Candidates are focussed on what value their recent deal experiences will carry over the next few years, looking to identify the trends and what is likely to be in demand in the future. 💵 Cash is still king... flexible working arrangements barely come in to the conversation any more. The main concerns are compensation, investment strategy and the investment committee's appetite to get deals done! What else is important to you?

Apollo Global Management, Inc. CEO Marc Rowan recently stated that the firm has committed $4bn in costs to hiring/payroll on their Originations team as they look to continue their push into investment grade lending. Will the hiring landscape for the next year mirror Apollo's efforts? From conversations that i've had i hear differing opinions... mostly pointing towards restructuring talent being in the most demand. What do you think?

Proud to be working with one of the premier names in the space on a VP for their Healthcare lending strategy. Looking for excellent private credit talent that is ready to take the step into VP or has recently been promoted to VP within their current firm.