How to Find Hedge Funds For Unpaid Internship
I am currently a freshman at a non-target, and I am looking for an unpaid internship for next summer, preferably in the New York area. Given that I am starting to lean towards the Sales & Trading career path, I feel it would be best for me to have an investment management-focused internship this summer. I am looking for small sub $400 mm L/S equities hedge funds in the NYC area. How can I find these smaller firms? Would they be open to taking a freshman? I am also involved in my school investment fund, so I am starting to gain some experience in the investment management/equity research space.
Search by city on both whalewisdom and aum13f. Then start your cold emailing journey.
Will they hire a freshman? Maybe. Depends on their needs, your skills / passion, how much you impress them during informational calls etc.
Try newer funds and you might have better luck, but the best thing to do is to email any fund you can get your hands on.
This. Why limit yourself to sub $400m funds? Sounds like an arbitrary way to cap your chances.
My advice is to cast as wide a net as possible. In all honesty, you don't really have specific expertise to offer, which ironically makes you suitable to almost any kind of fund.
I am assuming smaller funds have a more unstructured recruiting process, which would make it more likely that they would be willing to take me on as un unpaid intern. Am I approaching this the wrong way?
That is a pretty skewed way of looking at things, 400 mn is in no way small. A fund that has 400M easily pays their interns and most likely even sources them from Target schools. Your best bet for unpaid internship would be sub 100mn funds, speaking from personal experience and multiple other anecdotes.
For sure, I was under the assumption that anything under 3-400 million was a small fund. I see you're a intern at a HF, would you be willing to speak more about your experience on recruiting for that position?
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