Just curious if they've wound down yet or still in the process. Are their IPs ending up at pod shops, SM, sitting on the beach til next year, etc?
BD at my HF said we're not going to be pursuing them, partially IMO because there would be probably be a revolt internally if we saw ex-Melvin guys and gals getting huge guarantees after a huge blow-up.
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Bloomberg reported someone joined Ben Jacob’s fund Anomaly. https://www.bloomberg.com/news/articles/2022-09-16/hedge-fund-led-by-ex…
Noticed a few of the analysts/ senior analysts jumped ship to citadel cubs (Holocene, woodline, etc).
large migration to pod shops but have many friends who are doing well
.
Dunno if there would be huge revolt if they got huge guarantees. Analysts are probably ok. Think any fund would know these guys aren’t in much of a position of leverage so no need to offer them such.
That's why I clarified it as a revolt "internally" if they got a big guarantee from our firm. I had discussions with some other analysts and my PM and we agreed the optics just wouldn't look good.
That being said, you're right, they probably don't have much locked up in deferred at this point so unlikely they'll be getting any huge guarantees anyways.
A few of the senior analysts/sector heads have moved to pods as senior analysts or PMs. They’re not entirely reuniting their old teams, but I’ve heard more than 1 of these new PMs are hiring former Melvin people
Third Point hired an analyst from Melvin, per their 3Q letter
link to their letter?
google it lol I found it in 10 seconds
Realistically, the most of their employees will probably get hired as they were likely good HF employees. It's not like all of them were behind the short thesis on game stop which caused their fund's collapse. A lot of them were likely just dragged along in the bullshit without involvement in that particular thesis. But that's just my speculation so let me know if wrong..
I think you're probably right. They'll get jobs but not sure if any guarantees.
News out that Gabe will be launching a Consumer/tech focused FO with $500-700mm AUM. Name will be Tallwoods Capital.
Source?
Trader and prime brokers. Should be in the press this week.
Interesting, is he basically going back to Melvin c.2015 where they had $900mm AUM and 6ish analysts? I bet he'll do well, now that he can go back to his original style.
I believe it’s just him and one analyst.
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