Continue HF internship or start new IBD internship?
Hey guys. Currently a rising sophomore at a target (NYU/ UVA / UMich/ Georgetown). I want to recruit for M&A and Restructuring IBD internships for junior summer. Currently, I work at a long/short equity hedge fund for my freshman summer. It is a small shop with 5-6 people and 450mn in AUM. We mostly cover distressed businesses or special situations, along with traditional capital compounders. For fall, I have 3 options for part time internships. 1. Continue at my current HF 2. Join another, smaller pure L/S HF 3. Join a dubai based boutique bank that does only restructuring and specials situations (remotely). I am very interested in Rx and hence drawn to the 3rd option--I would be staffed on a 1bn creditor side live mandate. However, I also feel like this would be going backwards, from HF -> IBD, and its a dubai based bank instead of USA. What would you recommend? I want to best place myself for Rx recruiting, while also having a good shot at M&A and learning the most I can. Thanks guys!
"Small shop" -> "450bn"
Regardless, if you are from ME which I assume you are then take Dxb job, culture will give you major foot up you dont have in US.
I think OP mentioned its an internship not a job, and from a US school lol
Sorry...Not sure what you mean here. I am a sophomore at a US based school right now, and grew up here. The Dxb boutique is a fall, off cycle part time internship. Thanks!
Very unusual shop offered internship. I'm sure there are some details missing here but none of my business. I would still take it over HF offers given Rx would only have overlap with distressed hf and even this overlap is limited. Only caveat is that I dont know how much assistance this offers moving into a junior SA position at EB/BB but still probably pick up some skills.
Drop that boutique firms name!!! I’m curious.
if it’s like 6 people it’s probably million not billions under AUM. when I interned at a hedge fund that’s similar many banks were like wtf when I tried to apply for IBD jobs. Didn’t get any offers for banking and I’m working at another hedge fund. That internship got me the future job so it’s really where you prefer to work
Holy shit i relate to this so much. I interned at a $1bn HF but it was quickly dwindling down, but despite that some of my interviews in IBD and PE still went poorly as they were confused why I’d want to leave. Maybe because that HF may be gone in a few years?? haha
Great experience though - hf people are amazing to learn from.
Same exact situation for me too - currently at a decently sized shop and some of my IBD/PE interviews were touchy and sometimes downright aggressive over the fact that I was even applying (???). Tried to explain that I wasn’t getting as broad of a skill set as I would in IB but still got some weird looks.
Haha yes typo on my part, its 450mn. Fixed it on the OP. Thanks for the insight--Definitely agree that its a great spot to learn. Good luck on your recruiting!
Can I PM?
Yea, go for it
Wont let me you’re anonymous
Basically in the same situation as yours. I’d say do whatever you want in this case. I think it’s best to find out what you like or don’t like before committing in junior’s summer. Your experience is already impressive, so don’t stress yourself out trying to figure out what experience is best for recruiting next year. Good luck!
Thanks! Hope we both do well :)
How'd you get the dubai internship if you don't mind me asking?
this
Sounds like a good place to work why leave?
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