Marshall Wace NA Buildout?
It appears that MW is expanding their NA team, at least based on number of pings and discussions I've heard.
Curious - do people place MW at the same tier as Citadel / P72 / Millennium? Seems like a smart group but hard to tell.
Bump
Final bump...
I think they are quite smart but not at the elite level of a Citadel/P72. Would be a great opportunity to be a part of that buildout because they do have quite large US investors for being a European based firm
Lol what?
What was hard to understand? Having worked with all of them, thats my opinion
how come？ thought they are way more elite than P72/Citadel. AUM per person like 1 billion per investor, for P72 its not rare to see 500m split btw 3~4 people
Your post history indicates you did a case study recently for Point72 and were rejected. Sadly OP, you're not going to find unbiased answers on WSO. Many people cant get into firms like Point72/Citadel, so they shit on them even though they’d take an offer on the spot
why do you sound so attacked lol u work there? im not saying P72 is a bad place at all, I got rejected for one team's case study but passed the case study for another team and in final stages now. The second P72 team I interviewed had ~4ppl splitting 500m but the other team I talked to at Marshall Wace was almost 1B/person. If I have to say the MW interview experience was way worse compared to the P72 one, they asked weird brainteasers and cut me off while answering it which made me die inside. I interviewed with both citadel and P72 before MW and this kind of rudeness was unheard of. Honestly still traumatized by them but objectively saying the MW people that interviewed me were off way higher caliber than 72(EB top team > mega fund PE > MW; mega fund out of college > MW) and AUM / person was unreal.
It's quite simple. At beta neutral HFs like P72, it is not uncommon for pods to be leveraged 8:1, so that 500mm can actually be 4B. MW's strategy is long-only, and from their 13f it seems that they don't use any leverage. You should know this if you're recruiting for hedge finds. Anyway, like many other long-only funds, MW has been underperforming for quite a while. Beta neutral firms have been crushing it in the past two bear markets.
You’re the “dumberer” in dumb and dumber.
P72 leverage is at the back end. I.e each pod saying they have $500mm is $100mm of LP capital being levered up.
I can’t speak for all of MW but MW NA is pod-style with each pod managing several bn aum. When I spoke to them in 2018, I knew they were market neutral but not sure of how closely they looked at other factors. They have a more grueling process because they like to hire for the LT. The interviewers told me about a few rounds of case studies with the firm founders being present for the final case study round.
Not sure how much this has changed but at least 4 years ago, they had a more rigorous process than other pods.
I’m not saying this makes them better. Higher risk limits mean they probably pay PMs less but someone else can shed light on that.
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