HG Vora Capital
How are they? any information? interviewing with them and would like to know how they have performed in terms of return vs other funds. I come from a SSG/bespoke financing arm of a megafund.
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Heard okay things from kid who interned there but now works at a different fund. Focused on gaming/hospitality
Do you know if Hg Vora still takes sophomore interns? I think I know who you’re referring to...
There’s one (maybe two?) people this could be?
In any case HG Vora is a good fund. Has performed well from what I understand.
the top dog out of W
Ha, not sure that's the case. Top that went to his initial firm is debatable even.
Could you clarify that? I thought SPC is the best first job you can possibly get out of W
Sure. But a couple people joined and only one is remaining from what I can tell based on LinkedIn. Obviously the person you're referring to is very impressive.
Lol he's at a pretty mediocre fund now though...
Citadel is mediocre? Disagree.
From a junior perspective, I would argue it is pretty mediocre. Why would you want such low job security, where you and the rest of your pod can get canned after just 1 bad quarter. Most people in my analyst class, myself included, turned down interviews at Citadel. They are hardly the most coveted seats.
I literally get inbounds from desperate headhunters repping multi-managers like Citadel, Millenium, Balyasny, etc... every other week.
That's now how the distressed team is structured. There are pros/cons, but the performance of that team is very good (and I would assume the comp is as well). I'm sure he had his options when leaving.
I don't think anyone in their right mind would tell you that Citadel is one of the top distressed players, or that Citadel is one of the top seats for distressed analysts.
It’s possible that you might be talking to the man himself...
Lol it can be a good seat without Citadel being a large distressed player. It’s a different model.
It sounds like you just joined a fund from banking. Whatever place you joined is far more flawed than you realize. The single manager distressed firms haven’t exactly been doing stellar...
Several of your assumptions about my own background are incorrect, but not going to get into it for the sake of anonymity.
Your contention that Citadel distressed is a good seat is quite debatable, but let's even say it is for the sake of your argument. My point was it's not one of the top seats in the space - said person is not working at an Elliott, Baupost, Davidson Kempner, etc... (insert whatever other top names)
Ah yes, Elliot, Baupost, and DK with their incredible returns of...3-5% annualized over the past 5 years? There are reasons to leave for those places (mostly based on caring about prestige, and Baupost is a little special), but there's also more immediate upside and responsibility at a Citadel. Given where he left from, probably wanted a different experience (or why leave). Unless you're asserting he was forced out, which I have no idea about. Regardless, he was clearly a top (the top?) student at Wharton or wouldn't have gotten the offer out of school. Doubt things have fallen apart too much in two years.
It’s an extremely good seat if you know anything about it. Small team managing a ton of AUM with a lot of flexibility within the credit space and a longer term approach than some of their l/s equity pods. Very good performance last year due to a well known restructuring trade where they were on the steering committee with the rest of the big boys. And speaking generally, citadel is not a mediocre fund - probably the best performing large HF in recent years particularly given their risk management approach, but even their raw returns have completely crushed the large distressed focused funds.
I work at a large distressed SM style fund and there are certainly many pros, but anyone who doesn’t respect citadel is simply ignorant. Also you have no idea on comp, which at the end of the day is still the biggest determinant of a “good seat”, not some preconceived notions of prestige which no one experienced in the HF industry cares about.
Left before getting fired probably means this wasn’t accurate….
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