Does anyone have any insight to working & Fir Tree Capital Management?
Speaking to some people regarding current HF job market - Fir Tree is one that I continue to hear about. I know they have been rattled with redemptions over the past decade and have gone from an AUM of 13 yards and stabilized to around 2-3. Seems like they get a bad rap from a few trolls online - but working at a 2-3B fund that invests across the entire capital structure, IMO has a lot of upside.
Any of you have any insight on what its like to work here? How are the people? Whats the culture like? How is the pay?
how does working at a fund that lost 80%+ of its AUM have a lot of upside? Just because you don't like what others say about a fund you may or may not idolize doesn't make it a troll.
If you asked any investor why they would invest in a business that fundamentally declined 80% (whether measured by revenue, EBITDA, cash flow or whatever), they'd have a very solid reason to invest underpinned by a turnaround thesis. Most if not always, there's no turning around a sinking HF ship because your LPs have long lost your trust and you can't attract new LPs after you show them your 3-5-ITD return profile. The remaining LPs are just hanging out because you reduced fees significantly, or worse its just the founders capital sitting there.
odds are they have had to discount fees & might well be under a high water mark, but great business analysis skills!
I know their SPAC fund did well in recent years. I can’t speak to fees.
My knowledge is a few years old, but from what I've heard it's a great place to work if you want to maximize your ratio of compensation : value-add. Have heard great culture wise but the people there are pretty bad at what they do (but b/c of that lower expectations).
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