How fucked am I if I really want to go into activism but are from the EU and work in London? Have done a quick LinkedIn search of the typical EU and US funds and their teams in London seem tiny or non-existent (Currently AN1 at a top IB group at GS/MS/JP in london)
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Based on the most helpful WSO content, breaking into activist funds in London can indeed be challenging, especially as an EU citizen. Here's what you need to know:
Team Size: Activist funds in London tend to have very small teams, which makes opportunities limited. Many of these funds are US-based, and their London presence is often minimal or non-existent. This aligns with your observation from LinkedIn searches.
Recruiting Preferences: Activist funds typically prefer candidates with a strong background in investment banking (IB) and private equity (PE). Your current position as an Analyst 1 at a top IB group (GS/MS/JP) is a solid starting point, but you'll need to stand out further.
Challenges for EU Citizens: Post-Brexit, visa and work authorization issues can add another layer of complexity for EU citizens looking to work in London. However, high-earning professionals in finance are generally not the target of restrictive immigration policies, so this may not be a significant barrier if you have the right qualifications and experience.
Networking and Headhunters: Breaking into activist funds often requires leveraging headhunters and networking extensively. Key headhunters for activist funds include CPI, Oxbridge, SG, Robinson Judson, and Lawbrook. Building relationships with these firms can help you access opportunities that aren't widely advertised.
Risk and Stability: Activist funds can be less stable compared to other buy-side roles. Their fundraising cycles and reliance on performance can impact job security. Joining a newer activist fund may carry additional risks, so it's essential to research the fund's track record and capital structure.
Action Plan:
While the path to activism in London is tough, your background at a top IB group gives you a competitive edge. Focus on networking, positioning yourself strategically, and staying persistent.
Sources: Working Abroad - Regrets/Benefits, Activist hedge funds: comp, hours, recruiting, Impact of Brexit in London recruitment, The Allure of Africa: Why I am Passionate about Opportunities on the Continent, The Life of Ricardo: What is Your Comparative Advantage?
HF scene in London outside of macro or multi managers is so tiny it is virtually impossible to underwrite as an exit opp. Best bet is to recruit for traditional PE and keep your eyes peeled for when a spot opens up.
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