How to land a seat in biotech HF?
I’m an MD with residency training and MBB experience, looking to get into biotech HF in NYC. Been studying biotech valuation and preparing stock pitches. Where do I begin to find and apply for those roles? Besides checking docjobs which may list some positions every now and then, and networking via Linkedin which hasn’t amounted to anything exciting so far, what can I do? Perhaps I am not networking right, basically been searching for biotech funds and pinging folks at those funds on LI. Thanks
Headhunters are the gatekeepers for most single manager positions (would assume bio-tech focused would be similar). The big ones in hedge funds are typically searchone / dynamics (there's one other i'm blanking on as well). Would you be willing to go the multi-manager route? I know Citadel/MLM/p72 will all hire folks w/ backgrounds like yours (and even some w/out any sort of finance / consulting experience). They may have their bizdev folks listed somewhere on their websites but that's another area where the headhunters can get you plugged in as well. I would say cold LinkedIn outreach is going to be a low hit rate (doesn't mean you shouldn't try). A lot of funds have limitations on what you can put on your profile (i can't even list my firm) and folks may not check it a ton. To the extent you can find their email address you might have better luck there. If you go on IAPD and search for the fund there is prob some generic email address listed there and you can then try and guess on the notation for folks that work there (eg first.last@biotechfund.com).
In terms of what to say, i think there are maybe two different approaches you could take (in either case the shorter the note the better). The first would be to find someone who a background similar to you and frame the chat as wanting to hear about their experience transitioning to an investment role etc etc. If that convo goes well you can ask if they are looking to add someone (or if they know someone who does). With a niche industry focus they prob talk to most of the other funds so they may be able to help point you in the right direction. The other angle would be to lead with your best pitch (not necessarily fleshing it out in the note) Say that you are looking to break into the industry and you think XYZ stock is interesting.
Thank you, this is incredibly helpful.
Would you be able to expand on pros and cons of SM vs MM for someone with my profile wanting to do biotech specifically?
And for places like Citadel, apologies I didn’t quite get your comment on bizdev folks being listed on their websites?
Thank you again for your help
Biz Dev is what they call their recruiters. Not sure if they have contact info on their website or a careers section.
Friend of mine had a PHD in biology and they intereviewd at a couple of pods before deciding to go the privates route.
I can't really speak to which would be a better setup for you. Would think that both obviously understand that you are going to be coming in with less of a finance background. All the big MM have training programs so you might get a more structured training program there. To be honest, there are probably higher odds of a MM seat coming available than biotech-dedicated single manager
Bump feel free to PM me. I went sser first and then BS. I’ve seen people go to the BS directly (dunno how). If you’re dead set on biotech investing I’d suggest to network with both BS and SS.
Gl
Congrats on breaking in, have seen you around, how many years in SS did you do before making the move?
Don’t tell me you’re the neurosurgery guy who left residency to join MBB? Come on man. That’s literally insane man
Ha I’m curious now. You got a link to their post?
Pretty easy to find on LinkedIn
Don’t blame them, 7 years of hell and lifestyle doesn’t get much better.
More like 9 bc you know they’re doing fellowship haha
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