HF Exit opportunities?
I’m graduating uni this year and starting at an MM HF ($20bn+ AUM) right out of undergrad. I really enjoy investing and see myself working for a HF right now, which is why I chose it over a couple other BB offers. But I’m a bit skeptical about pigeonholing myself in this career and would really like to know what are potential exit opps from a HF? Is it possible to break into PE or a VP level position at a BB 4-5 years later? I know that HF is the exit opp itself but just tryna understand what other options I would have
HF does not exit to experienced IB (VP+) and PE roles.
HF is the exit.
Clearly the prospect is aware of that.
What are potential careers I can exit to then?
Other equity investing roles, provided you don't blow up in 6 months and are competent.
If you have a good track record you can probably get a lot of public market jobs after like at a smaller fund. some hedge funds have also started doing financing as well as traditional long short.
If you get fired after six months it might suck though, but not as much as working at a sweatshop.
Nothing outside is HF.
I think people tend to default to "HF pigeonholes you to HF" type of thinking. While true to a certain extent given it's a relatively niche skill set, I've seen people in the space exit into all sorts of roles outside of public equities. for example, know of a PM at a MM HF that left for a c-suite role at a F100 business. if you're smart and driven and know what you want, think you can really do whatever you want. Just requires a bit more convincing if you've spent your entire life in the public markets
Depends who you know, my friend.
Best of luck and congratulations on the HF opportunity. Don't blow it
What's your fund strategy? I'm gonna assume you're in equity L/S space given what you displayed in your username tag.
I guess you could go to PE since you're quite well verse with fundamental investing. But given you didn't do 2 year IB program before your HF stint, hence no exposure in deal execution, modeling, etc. this might be just a slim chance you could rotate to PE successfully.
On a side note, if you're doing other strategies, for example at a quant fund, you can always go back to quant desk at BB or some market makers. If you're at a credit, distressed shop, there might be chance to go back to sellside on LevFin/DCM although not sure on this at all.
Other than that, jumping to a fund-of-funds allocator platform could be possible.
Not aware of general exit opps, but have seen several people move from HF to VC after some 1-3ys.
If your fund does VC investing (as many were doing increasingly before the turmoil) I guess you could try to involve yourself with that part of the fund and see if you like it.
Also, crypto is always looking for people, even now, so pretty sure that you could move to a fund focused on that.
Hope it helps.
What did you study in college?
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