Setup is actually pretty good. But old school style investing and everyone I know of who works there are not impressive investors or just fucking weird. Explains their mediocre returns.

 

Sleepy LO vibe. You know the kind of PM that focuses on getting interest expense correct when no one gives a fuck about that vs topline expectations? Trust me - you wouldn’t want to work there if you’d worked at a proper HF before lol. Also their claim about culture being good is BS apparently.

 

Spoke to them around 2018/2019: They said they were gentler than other MMs but did cut capital after thresholds were hit...so not sure how different?

HH reached out about a global thematic team early last year: Some star PM/partner there was running a $10bn book with a team of 7-8 people!!

My overall impression is that PM take rates are slightly lower but maybe risk limits are looser.

 

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