This past summer I interned at a HF and I really enjoyed the experience. Unfortunately the firm just doesn't hire undergraduates for FT. I want to go into the space after banking and was wondering what the best investment bank would be to make sure that happens.I currently have an offer from a EB where most exit to PE. Not sure if I should consider looking into FT recruiting elsewhere…Any insight would be great!
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PJT RSSG
Yeah I second the dude above. PJT RSSG is the best place for HF exits. But any motivated individual should be able to place well from solid EBs and some of the top BB groups like GS TMT
Do you think it’s possible from a firm like Gugg/Roths/GHL?
not really
PJT RSSG, EVR M&A
I would highly suggest top RX groups
Don’t listen to the people on here. Strong candidates from any good group will get looks from headhunters for MMs and SMs. I know of someone who went from Intrepid (high tier O&G) to a tech group at Citadel. He didn’t have any connections or anything, he just worked his butt off and was a strong candidate.
Thank you boss!
Most top single manager hedge funds will recruit from the PE associate pool, but some will interview analysts from absolute top groups. You won't get slack for being two years younger and having less work experience than the PE associates you're interviewing against though -- you have to win your spot. For that reason, its usually only a few groups that produce self selected analysts that are technically and professionally ready to make the leap. PJT RSSG is probably the best example of this. The group has sent people to Baupost, D1, Darsana, Silverpoint, Governor's Lane, and SPO / Eton Park / Perry Capital before they shut down.
That said, if you're not someone that only wants to work at the handful of 'elite' pedigree focused hedge funds managing 10B+ AUM, if you're at any reputable BB / EB you'll get interviews for smaller hedge funds and multimanagers.
Agreeing with one of the comments above, hedge fund recruiting is a process where I think bank group actually has much less of an impact than people think. I was in banking at a group that WSO would consider firmly middle market and was never asked about my deals once. I spent 8 months working my butt off following the market and building pitches / paper account, and that was enough to get me an HF position at a ~$1-2BN SM fund. Would I have gotten looks from Tiger / Viking etc.? Probably not, but working at GS / EVR / PJT doesn’t guarantee looks like that either.
Do you mind sharing what comp looks like for $1-2bn SM funds?
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