Baffour Abedi left Goldman Sachs in 2009 as a Vice President in the High Yield Distressed Investing Group to pursue an opportunity with a startup credit opportunities hedge fund. During his 13 years away, Baffour continued to engage with the GS alumni community across the hedge fund and asset management landscape, ultimately leading him to rejoin the firm in 2022 as a Managing Director in the Private Credit Group.
Tell us about the first time you worked at GS in 2004. What were you focused on, how long were you here and what was your experience like?
I joined Goldman Sachs in 2004 in Leveraged Finance, within the Investment Banking division, primarily providing acquisition financing for private equity-backed transactions. After joining the firm, my key focus was to build a foundational financial analysis toolkit and to garner high-quality deal experience. After three years in Leveraged Finance, driven by a desire to evaluate the products we were structuring from an investing perspective, I took advantage of the firm’s internal mobility options and transitioned to the High Yield Distressed Investing Group, a proprietary investing business within the Fixed Income Currency and Commodities division.
Across both groups, the experience exceeded all expectations – rich learning environments, collaboration, a wide range of high-quality deal opportunities and an investing career that began during the 2007 market euphoria. The rapid market unwind in the wake of the Global Financial Crisis was profoundly instructional and shaped the foundation of my investing career. The firm’s focus on client service, excellence and its strong culture were evident in every aspect of the experience.
What led you to the decision to leave GS after five years? What did you leave to pursue and how did the firm prepare you for that endeavor?
When I left GS in 2009, I joined a startup credit opportunities hedge fund – a unique opportunity to build an investment platform from the ground up. Coming out of the GFC, I was excited to partner with a seasoned team on a stressed and distressed corporate credit investing strategy. This role not only allowed me to leverage the foundational skill set I had built at GS but also provided an opportunity to accelerate my investing acumen, all while contributing to the growth of a new business.
The comprehensive analytical skillset, combined with the investing experience acquired on the Street’s leading credit trading platform, enabled me to efficiently capitalize on attractive investment opportunities that supported the platform’s growth. GS’ guiding principles, including a culture of collaboration, prioritizing excellence and empowering its people to take ownership, allowed me to have immediate and meaningful impact at the fund.
How did you leverage your GS network after you left the firm? Did your network help you rebuild your GS career after your time away?
The GS network proved to be invaluable after I transitioned into the hedge fund world. There is a sizable, engaged community of alumni across the hedge fund and asset management landscape who were not only helpful resources but also great collaborators and worthy counterparties. During the early days of the fund, others in the network who had similarly gone through the experience of founding or joining early-stage funds were particularly gracious in sharing both the successes and challenges of their journeys. Their insights helped accelerate the growth of our business while allowing us to steer clear of potential pitfalls.
It was common to engage with fellow alums – whether those I already knew or new connections – driving efficiencies in market intelligence gathering, idea sharing, and collaboration on investment opportunities. Frequent interactions with other alums in the industry, which reflected all that had been great about my time at GS, helped keep the GS experience close and present in my mind.
How has your second round at the firm been after 13 years away and what excites you most about being back?
I rejoined GS in 2022 in the Private Credit Group during what has turned out to be a truly transformational growth phase for our business and the asset class more broadly. We expect private credit to lead the financing for private equity sponsors’ new deal flow in the much-anticipated rebound of the M&A cycle, and believe GS is well-positioned to capitalize on this opportunity. It is exciting to be on a platform that benefits from scale, OneGS collaboration, and history in the market as a reliable and creative financing partner.
It is great to be back at GS – everything that made my initial experience positive has only been strengthened, and it is impressive to see the meaningful progress made in areas that were once identified for growth. Furthermore, the return has felt seamless, in part due to the number of former colleagues still here, which made re-integrating into the firm and culture feel familiar and welcoming.
What advice do you have for our alumni who are considering returning to the firm?
Leverage relationships and the GS network. These efforts will help identify potential opportunities as well as ensure your interests align with the opportunity set and the fit is right. The consideration to return to the firm is likely anchored in an attraction to the firm’s core principles, and staying open-minded helps as potential opportunities may emerge in unexpected areas.
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