Long / Short Credit Hedge Fund Strategy Details

Hello all,

I’m curious if anyone who works at L/S credit pods has any insight into how they operate and invest. I’m not talking about single manager long/short credit hedge funds that focus on HY/stressed/Distressed investing. I mean pods/strategies at Multi-Manager shops like Citadel, Millenium, Baly etc. that focus on liquid, performing 50% IG and maybe 50% HY. I had a short conversation with a PM at a multi-manager there who primarily focused on IG long/short and he mentioned the book turns over on average once every 3 weeks, so really high trading volume, and I didn’t really get a chance to ask how they look at investing when it’s for such short durations and ostensibly, if it’s IG, so few points of upside/downside (I assume somehow that liquidity isn’t a big issue but it’s surprising since I doubt you can get in and out of bonds clipping maybe 0.25-1 point). I’m looking for details on how the strategy actually works and the type of analysis done.