I was fortunate to receive an offer from a top prop. shop (Trillium//First New York) today.
I am also interviewing with a Commodity Trading Advisor (CTA) which is basically set up as a hedge fund (2 and 20 structure) for a nightposition. The CTA position would be trading futures contracts on the Asian/European markets therefore it would be overnight hours. I pretty much have this position set I think (I have gone through 4.5 hours of interviews and just have to meet the other partner). We kind of indirectly discussed starting dates, where to live, salary, benefits etc.
The CTA is very small (5 guys) but the two principals are extremely smart (think top 5 MBA for both) and have extensive industry experience trading futures. The two other employees are also graduates of top 10-15 schools and very knowledgeable. The assets under management are only $50 million but the firm has seen excellent returns over the past 3 years (16% on average). Last year the firm had a 13% return while the market fell apart. Basically the CTA is in a growth phase and is looking to add people and grow their AUM. With these types of returns the firm can explode to $150 million+ AUM and I could certainly make a lot over the long run.
So, how do I tell the CTA about the prop. shop offer and which one should I accept??