Does anyone know of any L/S hedge funds that regularly hire out of undergrad besides Citadel, Point72 and Millennium?
I am specifically talking about fundamental investing btw and HFs with training that's 3 months +. Any help would be appreciated.
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The whole job of a HF analyst is to do thoughtful research… at least a dozen good threads on here that answer this exact question
Is it advantageous to do an s&t internship and then apply to HF?
Better of doing IB or ER.
See, now this is actually a pretty thoughtful and good question!
ER is a bit different--ER is much more akin to a Citadel/MLP/P72 pod shop w/ a defined coverage model focused on calling quarters
IB/PE are best for the long-term fundamental L/S equity or activist shops (analyse a business from the bottoms up with a 3-5 year view)
S&T is still great if you're interested in macro funds (Brevan Howard, Tudor, Element, etc) which are increasingly more quantitative and focused on markets / arbitrages (relative value pair trades, e.g., spread between 3 and 5 year treasury yields) vs directional views, but will not get you far in terms of fundamental equity / analysing businesses.
Figure out what interests you and do that--you can make a killing at all three of these sorts of places and within finance your outcome is defined much more by how well you do in a given field than which field you're in
I think they are specifically talking about funds with built-out training programs, to which there has not been a thread on here that mentions anything more than these three.
There are so so so many threads on this topic
Do some searches and you can find more names than the ones you listed. I would broaden my search though as I doubt you’re L/S or bust. If you are in a UG quant program each quant fund hires UG.
I’ve been independently looking myself for the last couple of days and of all the HFs I’ve found about 15% hire out of UG. There are more likely a greater number but those explicitly hire UGs. For all of the others I’m going to reach out one by one.
Citadel/Point 72/MLP are the only ones people think about because they have structured UG recruiting.
I came this realization about HF recruiting. If you can’t pitch yourself cold to a firm then how will you ever pitch to a PM or speak with investors?
Do the places you're talking about have a built-out training program for UGs? That's personally a must-have on my end. I edited my post to reflect this. In the research I've done these SM/other MM funds only accept kids who have been investing since they were like 10 and really don't need that extra training. I know that I could really benefit from a couple of months of training, however.
Types of funds that you I guess might have in your mind doesn’t have an incentive to build a structured training program as they already have qualified candidates with good credentials lining up for them. Other than MM, if you cannot rock and roll from day 1 without training, it would be difficult to even break in.
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Someone asking this question probably has about a 0% chance of landing Silver Point
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Tudor, Marshall Wace, Graham, Bluecrest, Brevan Howard, Rokos all hire out of ugrad.
The kid said L/S, but I am stealing this list.
Removed for anonymity. Removed for anonymity.
This is the way
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