dose anybody know about Alternative Asset Investment Management LLC? It located in 650 Fifth Avenue,
Just got a interview from this about summer intern. I "googled" it but apparently they don't have a website.
any suggestion?
I am currently a computer science master student looking for a finance related intern...
Thanks very much in advance!
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When I typed it in to firefox, it took me straight to this page, so I'm assuming it did so for a reason:
http://www.alterama.com/
If this is the firm, it looks like they're a HF FoF
Thanks~ but the address of this firm is 444 Madison Avenue, 28th Floor, New York, NY 10022 so probably they are not the same one...
i'm not sure if the one drexel posted is right or not, but I remember seeing a posting from these guys once. they might also go by alternative asset investment management?
edit: here it is. they raise capital for hedge funds.
Position: Internship – Hedge Fund Capital Raising / Marketing Support
Company: Alternative Asset Investment Management, LLC
Address: 650 5th Avenue, 17th Floor
New York, NY 10019
Responsibilities
Alternative Asset Investment Management, LLC is the premier capital raising firm in the hedge fund industry. We are looking for candidates to fill our internship positions each semester. Candidates must be motivated self-starters with a passion for learning the hedge fund industry from the "ground up", and in turn, we offer an excellent opportunity to gain access to the hedge fund industry. Interns will be exposed to a variety of different tasks that would collectively serve as a thorough introduction to the hedge fund industry. Candidates need not have prior business experience, but rather need to be ethical, hard-working, and have the ability to see tasks to completion without supervision. Job responsibilities include:
Creating marketing presentations using Word and PowerPoint
Maintaining client and investor records
Conducting in-depth research on hedge fund managers and fund of funds
Performing statistical analysis for clients
Writing legal and due diligence documents
Other administrative and marketing support tasks
Yes, I think it is the one. so they are a hedge fund capital raising firm, not a HF...Thanks!
I may get an interview, just call the office today and spoke with somebody higher and told me to call back in couple days if I do not hear from HR regarding the interview. I really hope that is true, because I want to get an opportunity. I heard it is non-paid, is there any chance for full-time opportunity. How is the interview process, is it hard to get the non-paid opportunity. Should I read about hedge-fund. Can somebody please give me some feedback. I have MBA not from top business and want to gain some experience in the Hedge fund world. I have 6 years experience as financial analyst in a technology firm, and 6 month consulting experience at Bloomberg, so I am transition into financial services.
Atish
I got a interview but the intern is unpaid.
Bump?
Hi, just wanted to reply because I worked there over the summer a few years ago and I want to warn everyone to STAY AWAY. Here's how it was:
Alt. Assets is not of HF or FoF, it is basically just the middle man between investors who have capital and hedge funds who need it. They do not choose to invest in anything themselves, they simply connect these two parties and I'm guessing, take a commission from the amount as their pay.
This company may be bigger than it seemed, but when we came into the Fifth Ave office, it was a small room crammed with about 15 computers in a square and just as many interns. The boss is horrible -- on our first day, he sat us down and lectured us for about 2 hours on how kids our age all want responsibility but don't want to work for it. He even made us watch Devil Wears Prada one day just to lecture us afterwards about how we are all Anne Hathaway. He is very short tempered and how you would imagine a short trader from Liar's Poker would be like. Yes, this may be what alot of people on the Street are like but at least you would get a name that people actually know out of it somewhere else.
Also, interns are hired in squadrons. They really don't care because you just sit and find hedge fund emails and send them company spam. That's the extent of your job. Also, even as just college interns, some of us even freshmen, we were allowed to do almost all the interviews and hiring. The boss even encouraged us to hire interns to work for us over the summer. As a result, we always had at least 5-10 interns and new people came every week.
By BS-ing my story and covering it very well, I was able to make this job on my resume work for me. But it is really not worth all the boring time spent doing "research" and being yelled at if you can get something better. If not, take it and keep your eyes peeled to learn as much as you can to talk about in your interviews.
Over the summer, we found an email that a previous intern had sent in which really sums this place up. Apparently, he had re-interviewed at the firm, and since we basically hire anyone, we sent him an intern offer. He sent back an email revealing his true intentions of interviewing, saying that he would absolutely NOT take the offer and that working at the office before had been like working in a sweatshop and that the boss thought he was still in the 1980s at Drexel.
one day he asked some interns to find him the best spy pen on the market so he could take it to meetings and gain an edge for the next meeting. he was serious and purchased it.
Thanks for all the amusing stories. Clearly this place is a chop shop. Still they have been running an Alternative Asset Summit every year in Las Vegas for a number of years now where they supposedly bring together investors with HF managers. Does anyone here know anything about this summit? Is it at all legitimate or useful for HF managers doing fundraisings?
Um.. anne hathaway kicked ass, but this story is hilarious lol.
I interviewed for the position afew months ago, interviewers were 3 interns. lol
I asked them in the interview if they enjoyed the job and they replied with a emphatic YES! They loved every second of the "fast pace" environment. I wonder if they were told to say that.
Lol, where you kids find these places ?
Amareqsue's story does not surprise me. I phone interviewed with these guys a couple years ago and I remember they are a joke. They are just a marketer for hedge funds. They are not a hedge fund or fund of funds, as noted above. They didn't even allow me to ask more than 1 question by phone and they hung up on me.
Stay away from these guys and spread the word too.
There are so many crazy stories, I can't even begin to sum it up, including a time I had to endure a 15 minute analysis of how my body language indicates that I am in disbelief of his every word because apparently, he is a poker master.
Tell more stories amaresque, really sounds interesting. A great read!!!
I just started intern today there, and i'll see....
Hi ben, could you tell us more about your experience there? I have been contacted today by them and all the comments above make me think there is something wrong with this internship... I need your advice Thanks
this is great, keep it coming
Keep them coming
keep it coming
Hey even i got an interview from this company.... Can anyone who has just started intern there or already doing it can share their experience?? it will be very helpful...as i am totally confused?? thanks...@ ben2379...IF U CAN PLEASE SHARE YOUR EXPERIENCE WITH US WILL BE GRATEFUL!!!!
look onkarenator and Marine, if you can't infer what it's like to work at this firm based on the very obvious above posts, you probably deserve to work here
Thank you for your help and your comments PiperJaffrayChiang. The thing is that i am french and it is my dream working in NYC, this is why i wanted to be more than sure before turning down the one and only proposition i was offer in the city... See u, Marine
Its clearly a crappy position. I'm sure you can use your background and language skills to find something else in the city.
I heard about this compay before, one of my friends who goes to NYU told me he worked here during the semester, he said it was like a sweatshop and after the first day, he wanted to punch his boss, the boss is a guy who graduated from Drexel and basically goes around looking for interns from any school because all previous interns end up quiting, my friend told me he quit after a couple of weeks, also, he didn't get paid
if someone wants to know more info, I can ask him more about it, just PM me
... it really pisses me off that companies like this try to hire smart students to do this type of work, my recommendation would be not to work here
Yea someone post more information on this internship too, I just got an interview as well.
"Candidates must be motivated self-starters with a passion for learning the hedge fund industry from the "ground up", and in turn, we offer an excellent opportunity to gain access to the hedge fund industry."
is this quote bullshit from their job ad?
yea dont waste your time. I called these guys and grilled one dude on the phone about the position. He told me this was a hedge fund. After I asked him a few questions about the operation since I know a lot about hedgefunds, he said he couldnt tell me over the phone. Clearly isn't a hedge fund....
Pretty much sounds like you just get information on hedge funds and have no actual experience in anything hedge fund related. Also its not paid and does not lead to anywhere in the hedge fund industry.
the guy on the phone was a complete dumbass and eventually got so nervous that he asked someone next to him what to do.
exact line i heard, "this guy is asking too many questions, what do i do?" "Tell him to email us" responded the other guy.
hahahaha what a joke.
wahhahahhahahah BUSTED!
Hey guys, just wondering, is the boss' name Victor Park?
hi guys, i was surprised to see that this question was recent. i recently interviewed here and went all the way down to NY from BOS to find out that it was not a hedgefund, rather a cap raising fund for hedgefunds. like the other commentors have added, the firm is a middle-man. either way i was in the hot seat at the interview and decided to make the most of it.
in my personal experience, i was interviewed by one woman, not an intern. she didn't seem excited about her job at all and seemed like she was packed with interviews all day so my usual 30min-1hr goal was turned into 15-20 mins of waste.
regardless, i was recently offered a position for the summer. they said they hire 10 interns, and around 8 or 9 out of 10 of interviewers come there thinking it's a different job (probably a hedgefund like i did). which obviously leads me to think that they have IT issues. I still can't find the company website, which they specifically said they do have one and its a huge firm but i'm still persisting in trying to find it.
in this economic situation as a business undergrad, i've been unsuccessful in even getting interviews. i've had priors at HF's and sell-side research. even with my credentials, i am tempted to just accept the offer.
some of the things i took into consideration are: permanent residence in NY is a convenience intend to take LSAT classes, and NYC would be great. after my shift, i could go and attend classes even though it's marketing support, it's still a business job. without any other options thus far, i'm limited to what's in front of me and this sounds appealing.
not to be cliche but in all honesty, beggars cant be choosers
do everything you can to get a different position. this is the kind of shit I wouldnt advise doing unless you are a freshman that desperately needs something finance on a resume. as a student in NYC ive had experience with many internships of this kind. I literally took the job, worked for one week, and quit at like three places before getting something decent...these are much more common than you might think and many offer no value to you at all.
Just to bring this post back. I as well worked for Victor Park. Unless you suck up to him like crazy you will be doing crap work the entire time. There were 2 interns my summer that got to go on meetings with him which were somewhat beneficial. He is just as sad and crazy as the stories above mentioned. I don't even understand why he needed 15 interns to send him news articles about hedge funds and email people about his Thursday night parties with "high net clients".
I don't know if this place is still hiring but if so, stay away. Get some analytic and modeling experience instead. If no one will hire you, Google the shit out of all the information you can for an entire summer and you will be better suited than 95% of all your friends who landed internships like these.
as a former intern, guarantee you victor park wrote that post himself. guy is a joke, everyone is miserable in the office. STAY AWAY.
as a former intern, guarantee you victor park wrote that post himself. guy is a joke, everyone is miserable in the office. STAY AWAY.
Coming from someone who isn't verified talking to someone who is verified..
Eh, look I really don't give a shit.
Is this a shitty place to work? Perhaps.
Do they throw good conferences? I would say yes. I just got back from Vegas last week for the summit and for what it cost our company, it was well worth it. Good speakers, good accommodations, great split of investors/funds/technology providers.
Of course if you're a little shit intern, you're probably going to be miserable here listening to a bunch of grovel that doesn't really pertain to you. And actually now that I think of it.. most of the interns were pretty cool this year. Even partied with us.. looked like they were having a hell of a time.
Is it SALT? No it isn't. But was it worth what was paid? Absolutely.
What kind of investors were present mostly? I considered attending this one.
This post makes me laugh. I wonder if Victor Park is still doing his thing.
please note that Alternative Assets is a not a hedge fund or asset manager. it is a capital raising firm that tries to match investors (family offices, institutional investors, etc) with funds. yes, there can be a lot of interns (10-15 at any time) but in a way, it makes things more interesting. you'll be researching investors and funds and helping with some marketing materials. as an intern you also get to go to the third thursday events where you can network with others in the industry. In many ways, this internship is what you make of it. you get to talk to your peers and the people that I interned with did end up working in the financial word (asset managers, banks, hedge funds, etc). Victor Park is a very logical person and this internship allows you to learn/hone some skills (like listening, note taking, attention to detail, even if they are basic) that are essential to any job.
So I had the opportunity to intern for Mr. Park and "Alternative-Assets" this past summer of 2014. Yes the office is pretty small, yes you will probably do a lot of data mining. However, being in an environment with a few licensed brokers I found myself constantly learning. I was able to learn about the REIT space and even listen in on a few of Mr. Park's meetings with clients. Todd Schwendiman, another boss there, was extremely nice and a stand-up guy. Also, Mr. Park is one of the most fun people to shoot the shit with.
Mr. Park is quite smart in that he packs the place with interns to do his bidding. He would have Interns managing Interns, Interns interviewing Interns You learn this stuff in Business Management 101 - Management is about getting others to do your work. Every few days he would hold a "class" where he would teach different investment strategies. Albeit it was an unpaid internship, I now have experience I otherwise wouldn't have gotten. I'm not sure why everyone is ragging on Alternative Assets when nobody was forced to intern there.
I do have a funny story though. It must have been the hottest day of the summer and I get to the office after walking 2 avenues and too many streets to count and of course the AC wasn't working. None of the Interns could figure out how to work the AC. This was a day when none of the bosses were there and even an Intern had unlocked the office. I immediately opened all the windows. That probably made it worse. Needless to say I left early that day. Other than that, Mr. Park yelling at people was always entertaining. Yes, I was yelled at also. Another funny thing would be Mr. Park clapping his hands every so often (I always assumed he closed a deal?).
If you're thinking about Interning at Alternative-Assets, I say go for it. The other Interns I met were all cool people i'll never forget.
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