Chances of Moving to HF - Help
Hi -
I am currently a PE Associate 2 going into 3 at a reputable MM shop in my industry. I started off as an Analyst in PE so didn’t do the typical 2+2 path. I’ve gotten decent transaction experience I would say at my time in PE so far. I am now interested in in moving to HF as I think the work is much more interesting and I think I would actually enjoy the role much more. I do trades with my personal portfolio but not as much as I want to given high workload in PE. I went to a non-target school as well.
1) What are my chances of moving to HF?
2) I am thinking of reaching out to recruiters as well as networking my way. Any tips on recruitment?
3) Is this a good time of the year to start?
4) Which funds should I target?
Bump
Will be fine for MM HFs
Single manager will be tougher and hiring on a more sporadic basis, especially if you’re coming from a MM PE firm instead of a MF.
MM HF should be pretty straightforward to at least get interviews. Have been contacted directly for two multi managers and just applied to one on their website and heard back within a day. If you’re at a truly strong middle market firm it shouldn’t be a problem but if you’re closer to lower middle market it might be.
Thanks. Thing is I am not getting attention from headhunters. My path is probably less typical so I feel that I might need to sell myself to HHs and network a bit with PMs more.
How common is it to network yourself in? With a pitch obviously.
It’s certainly possible but given how time constrained PMs are, your best bet is HHs or direct outreach to BD at pods. How large is your firms current fund (ballpark range) and how untraditional is your background? I only ask because my background is almost identical to yours. Went straight into a PE and left to another firm as an associate ($2.5B+ latest raise). Get single manager inbounds every now and then but not very often and have either gotten contacted for or just applied and recently got interviews at all the pods (C / M / P72) along with one of the newer large pod raises.
It’s in the ballpark of yours I would say.
1) Do you need to have a pitch ready when you talk to HHs? Do you need for BD? Or will they ask more about the deals you worked on. 2) Will they test your knowledge about the markets?
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