AM → HF ?
How hard is it to go from a GSAM or MSIM to a HF like Whale Rock, Millenium, Farallon, D.E Shaw, Viking, Tiger, Citadel etc? This is for AM in NY?
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The hedge funds you listed are all very different. I am assuming you want to do fundamental L/S equities at a hedge fund at some point. Certain AM shops exit to certain strategies better than others, but they tend to be the very respected AM shops (Capital Group, Doge and Cox, Fidelity sometimes, Wellington, Alger - which people say bad things about but seen many exits to pod shops, etc.). GSAM and MSIM are not known for being great fundamental equity shops and don't exit to HFs (although the tech guy at MS is pretty well known now I feel like). The biggest issue you will be facing is that you are LO and will be seen as complacent / less moldable to their style / not as strong technical skills vs. the traditional IB/PE monkey. Still, working in research for a real active equity product at one of these places is definitely not a non-starter, but you won't be getting a job at Viking or Tiger. Smaller funds and maybe the MM pod shops if you network hard and prove yourself.
Depends on what you do at GSAM and MSIM as they have a ton of products that are a terrible fit and will have little in common to HFs / exit opportunities. First, understand the differences between each of the funds you mentioned because the investment strategy and process is different at each, then research on this forum where these firms traditionally hire from (or just straight up look on linkedin) and why they pick these people (discussed many MANY times on this forum)
As someone gainfully employed at an LO that is viewed among the "very respected" shops you mentioned, what would that process even look like? Do people from those shops even regularly move into L/S and are there types of shops on the L/S side that are more common to see people from LO move into?
For reference, worked internships in IB before going into LO, but obviously never did PE. Especially to the SM HF world, it seems like those processes are dominated by people from PE or GE. I've seen people move between both Citadel and Lone Pine and my shop (both worked in different parts of the company), but not many examples of people going anywhere but other LOs.
Linkedin is your friend - find people at your shop who moved to funds and ask them about it. I am currently trying to break into HFs and have only gotten interviews by networking/connections as I come from no name LO. Recruiters will not go after you but that is another way if you can convince them. Dodge and Cox for example has sent a few people to Matrix, while I know Capital Group has sent a handful to others (but those people also had IB experience). Generally, the top SMs will exclusively hire from IB + PE so there is nothing you can do about that other than try to network your way in (and still unlikely). For Citadel and pod shops, reach out directly to the biz development people there and try to get noticed - maybe it will work maybe it won't, but it is certainly not impossible depending on other factors (undergrad + stats, how much experience you have, etc. - generally the better you look paper from a hardo perspective, the better your chances with the biz dev and recruiter gatekeepers).
End of the day, it is possible but not the typical path so you need to be proactive and face lots of rejections.
How would LOs like Putnam, AllianceBernstein, Wellington etc be viewed for a move into L/S equities, assuming one worked in a research role?
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