Restructuring__
@Restructuring__ • 50,263 subscribers
Founder of Pari Passu, research firm that provides all-encompassing coverage of the most consequential restructuring transactions. Join our free email list!
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This is Scott Wu, and he is a genius He is the greatest American gold-medalist of all time at the International Olympiad in Informatics, and he is the founder and CEO of Cognition, an AI coding agent lab, which is one of the fastest growing companies in history While we can all admire the physical act of an athlete, intellectual brilliance is much harder to grasp, which is why I love this video so much. Here, Scott does simple mathematics in his mind and beautifully displays his intellectual ferocity Next time you think you can drop out of college to launch a startup, remember this is who you are competing against
Restructuring__124,196 Aufrufe • vor 18 Tagen
This is a really great video 1) She actually works in investment banking in a front office role, and therefore her nights are an actual representation of the job 2) This shows that even with long hours, you can go to sleep at 1AM and have a perfectly sustainable lifestyle 3) If you are tired of turning comments after 10pm, the buy-side is actually better
Restructuring__626,177 Aufrufe • vor 4 Monaten
What do people think of this interview? - "We have been doing software investing for 25 years, and investing in detail, not investing in stocks" (lol) - "We have never marked our companies to public comps, we are fundamental investors investors that mark our companies on EBITDA" - "Public markets have gone from 22x to 17x, and we can earn excellent returns at those exit levels" - "I cannot comment on other people marks, we have here with us literally 100% of the large pension funds and all the sovereign wealth funds. They have seen our marks and everyone is comfortable"
Restructuring__194,762 Aufrufe • vor 2 Monaten
One of the most fascinating things I learned in my MF PE days is how senior private equity executives are not only great at building businesses, but are also brilliant investors I will always remember my first investment committee I was the associate on the deal and spent 3 months essentially on a single company, and I thought I knew the company as well as anyone could Within the first 5 minutes of the discussions, all senior IC members had perfectly understood the few key variables that drove the business and really mattered - something that took me over a month to figure out when I was looking at one company, while they see multiple deals per week Their pattern recognition and ability to dissect a business was honestly beautiful to watch (and painful to argue against)
Restructuring__62,634 Aufrufe • vor 1 Monat
Next time you want to complain about your banking / PE job, remember tech sales is the alternative - Make less than 6 figures - Cold-calling the entire day - Little career progression - Colleagues are not smart or ambitious - Work and live in a third-tier city Mediocrity
Restructuring__416,411 Aufrufe • vor 1 Jahr
Highly encourage anyone who wants to quit a finance job to watch this video: - Do you want to “wind down” at night (watch Netflix) - Do you want to stop working at 5:30pm - Do you want to enjoy your weekends? There is another world, but there are trade-offs: - much lower pay - slower career advancement - less exit opportunities
Restructuring__164,452 Aufrufe • vor 4 Monaten
Genuine question, what have I just watched? Find me a worse format, I’ll wait
Restructuring__80,506 Aufrufe • vor 2 Monaten
If you are going to read one thing today, make it this one "What the fuck is going on private credit?" Private credit is getting sassy People are lining up to get their money back Big changes came out around lev-fin after the GFC The new guidelines meant banks could not lend to LBO above 6.0x Private credit stepped in to fill the gap Pre-GFC, deals were small, and docs were tight Private credit has outgrown levered loans Why? Fees Private credits make ~6-7x fees vs levered loans The race is off, if you don't own a private credit business, you own it How do you deploy so much capital? Focus on large deals Which sectors? Software, business service = AI exposed sectors Those billions deals look like levered loans, much worse docs Many new deals were done lending against revenue, not against cash flow. Private credit guys were so confident because multiples kept expanding Then ChatGPT shows up AI Exposed companies are down 50% And to make things worse, the covid LBOs are maturing now Private credit is saying LTM figures are fine, but public credit recoveries are down, especially in tech Sponsors have misaligned interests, if they think the company will be disrupted, they pay themselves dividends People now want to get out
Restructuring__28,132 Aufrufe • vor 1 Monat
Blackstone Holiday Video | I hate to admit it, but goddammit, this is so brilliant. Blackstone just gave a marketing masterclass in "Jab, Jab, Jab, Right Hook." For a few years, Blackstone made these "stupid" holiday videos that apparently made no sense. In the background, however, they were working to bring alternative retail vehicles to market (Private Equity, Real Estate, Credit, and Infrastructure) that anyone can buy. Today, those vehicles are all live and raising capital. So, what do you do once you’ve built the audience? YOU START SELLING. They literally put an ad in the middle of the video, and everyone bought into it. It’s a shame Blackstone Private Equity keeps underperforming the S&P 500, but the execution here is a 10/10. Absolute masterclass.
Restructuring__82,448 Aufrufe • vor 6 Monaten
2025 was the year Warren announced his retirement 2024 was the first year without Charlie - the most memorable question came from a child: “Hi, my name is Andrew and I’m wondering if you had more day with Charlie, what would you do with him?“ Listen all the way - Warren ends it beautifully
Restructuring__140,316 Aufrufe • vor 1 Jahr
The next time a school complains about firms recruiting through clubs and not the career service, show them this video. To list a few: -She likes putting on the resume an inspiring job position (never worked there) -She thinks the problem with "led 12-country taskforce" AS A STUDENT is the fact that you are not being specific enough -She believes having "nonchucks" as an interest is a good thing to start a conversation -She suggests going to give out resumes in person Amazing work
Restructuring__30,770 Aufrufe • vor 6 Monaten
Investment Banking Resume Screening - so good because it’s true
Restructuring__34,598 Aufrufe • vor 11 Monaten
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