Baupost Group & Cascade Investments
Anyone have any info on these groups? Entry ops, where they recruit, pay, etc? Thanks!
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They are both top firms. Baupost is one of the most well regarded hedge funds. Pay should be at or above market. Virtually no turnover. Investment team comes from IV league, banking/PE backgrounds. I am almost 100% sure they do not hire out of school, don't waste your time.
Cascade is Bill Gate's investment firm. Don't know much about then other than it being Seattle-based and probably lined up with an impressive team. Once again, not where I'd be searching for your first gig out of school.
i have seen baupost do some interesting real estate deals. not sure how big their real estate 'headcount' is there but i do think there are some guys there who exclusively focus on real estate. as REAcquisitionsnyc said above, if you don't have an absolutely badass resume, you probably shouldn't get your hopes up.
one cool tidbit/piece of trivia about baupost is that their founder is a real estate professor: bill poorvu, who wrote a couple of my favorite books on real estate (books that are frequently recommended by posters here on wso). and the name baupost comes from Baruch, Auerbach, Poorvu and Stevenson
Yeah, I knew their backgrounds and how selective they are. Insane... I wanted to see if anyone knew how to break in other than going to an ivy then working in BB ibanking.
Almost any well regarded PE fund hires through headhunters or through their team's banking class alumnus. Headhunters are the gatekeepers of these prestigious roles and their clients typically communicate a certain type of background they want (IV, banking, PE).
You will probably not be able to get the good headhunters on the phone until you have a solid year of experience in a ibanking/PE fund type role. It's very difficult to find a loophole.
I am not attempting to hate on people that do not want go into ibanking, or those that didn't attend an IV. I did not do either. This is just how it works in the top firms.
Suggestion: widen your net to development shops, investment sales teams, debt roles, etc.
Second name I found on Linkedin went to Boston College and has no BB background. Took me 20 seconds.
Having been in the workforce for 8 years now, I find that WSO exaggerates the exclusivity of top firms... probably because most of the posters are young and think all that glitters is gold. In fact, I was one of those people until I started meeting graduates of HBS, Wharton, Columbia, and employees at these "prestigious firms". I was extremely disappointed to find that many were quirky, socially awkward, and far less impressive intellectually than the people that succeed as entrepreneurs in the same or similar fields. My expectations weren't even close to being met until I started dealing with successful individuals at the Principal level.
The smartest person I've ever met went to work for the NSA. I assure you, the majority of people in the business realm are not cryptologist-smart or rocket-scientist-smart despite how prestigious that Harvard MBA might look on their resume. I've found - and this is just one person talking - that the MOST successful people in business have a balanced combination of discipline and aggression.
Business is all about relationships so start developing them ASAP.
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