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Analysts Going from Distressed PE to Hedge Funds?
 

aux0835's picture
AM
(Chimp, 11
 
Points)
 on 5/30/12 at 1:56pm

How common is it for analysts at distressed PE shops (think Apollo or Cerberus) to move to a HF at the end of their two-year stint? Are they limited to distressed-focused HFs, or can they move to L/S, event-driven, and other types of funds?

From what I've heard, the modeling skills and knowledge of corporate restructurings that an analyst acquires/hones at one of these PE shops are the primary takeaways from their two years there.

I'm also wondering where these skills are most transferable in the HF world-- which HFs tend to seek out these PE analysts?

Thanks.

Determined's picture

Why would you transfer to a

 
Points)
 on 5/30/12 at 7:12pm

Why would you transfer to a hedge fund after working for Apollo or Cerberus?

Talent is hitting a target no one can hit.
Genius is hitting a target no one can see.

aux0835's picture

Well, consider an analyst

AM
(Chimp, 11
 
Points)
 on 5/30/12 at 10:04pm

Well, consider an analyst whose goal was to work at a HF and do public market investing, but decided to go to a PE fund straight out of undergrad because it was a good opportunity to gain experience on the buyside with distressed co's.

Is this move from PE-->HF possible after 2 years in PE straight out of undergrad?

Ricqles's picture

yes. of course you will have

O
(King Kong, 1,271
 
Points)
 on 5/30/12 at 10:49pm

yes.

of course you will have an easier time landing a spot at special situation / distress hfs but l/s are also likely as well.

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