Long Onlys in NYC
Does anyone have a list or can name some LOs in NYC, would be hugely appreciated. Thanks!
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Large Shops with LO Strategies:
BlackRock
Neuberger Berman
First Eagle
Pzena
Alger
GSAM/JPM AM
Also a lot of large AMs not HQ’d in NYC have offices:
Alliance Bernstein
Pimco
Capital Group
Wellington (just opened, not sure any real presence of investment professionals)
Schroders
Lord Abbett (Jersey City)
That Wellington office looks noiiiiiice
Much smaller list than I expected and not a lot of high-quality names:
The only top tier shops on the list are PIMCO, Capital Group, and Wellington. Capital Group and Wellington do not have a large % of their investment professionals and its mostly analysts or PMs. This would be an ideal setup as an analyst but juniors and associates would likely have to work out of HQ. PIMCO doesn't prioritize its equities team at all and I don't think it's very big or of notable quality.
The rest are fine but definitely tier 2/tier 3 shops. It just seems weird that to land a top junior seat that you likely have to move out of NYC
Any view on alliance Bernstein? At least on the strategies more tilted to growth?
Can't comment on lateral recruiting but when I spoke to Alger regarding a junior summer internship they questioned me quite a bit (and likely dinged me) for not already having interned at a HF or investment bank. I didn't get progressed (likely due to that) but truthfully I was kind of taken aback by the statement and made it seem like they had a very intense elitist culture. Your mileage may vary but I didn't care the culture.
PIMCO's NYC presence is about 1/3 of their north america headcount. Most training and large meetings are still held in Newport Beach.
For investment professionals specifically (research, trading, PMs), I am pretty sure it is below 1/3rd (would be surprised if it is >20%, to be honest). My understanding is that they have a strong bias towards IPs being located in Newport Beach and folks getting placed in NYC are typically done on a case-by-case basis.
Artisan Partners Growth Team is out of NYC
ClearBridge
American Century (Global Growth Team)
Principal (Small Team)
Jennison, RCG
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