How to choose a L/S equity firm to work for? Can't decide on new/old, big/small, sector/generalist, etc.
I am recruiting for L/S, commercial/market thesis driven firms. There are a number of firms I've talked to where I like the people but there are a number of factors that I have to think about. Unlike PE, it is difficult to evaluate what type of HF to work for.
- New / old
- Level of flexibility (I like tech, but I guess generalist would be ok)
- Big / small (how much does joining a $300m first time fund vs. $1.5bn medium fund vs. $10bn older fund affect day to day life?)
Etc. I am wondering - do I just chase name brand firms again? Or how should I be thinking about this?
Thank you!
Probably wouldn't join a new launch unless you have a lot of confidence/experience studying public markets and are confident you can generate P&L.
Flexibility is good early on in your career. At a generalist fund, you usually end up running point on certain industries anyway. Question is understanding who covers what at the fund, people can be territorial for the good sectors. More sectors are generally available for funds that are newer as you'd expect, unless there is turnover at the fund.
Don't chase brand name firms, it matters much less than you think in the long run. Only a couple things matter imo...good comp and a platform for learning/generating P&L.
People people people.
You want to have a strong working relationship with your PM so that she/he will invest in you. I know great firms with bad apples and great people at C firms. Find the right horse to which you want to tie your wagon.
Exactly. Crazy thought but how about you go work with people that seem nice, competent, and from whom you'd learn a lot.
It's really not that difficult, guys. Always amusing how the geniuses that will pick the best performing stocks and management teams lack the most basic common sense in guiding their own careers.
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