Partner / PM economics at large multi strat fund?
Can anyone explain what career comp (once you're a partner / MD / PM) at a large multi strat fund (DK, Farallon, Sculptor, Baupost etc) look / work? Do you get a share of the GP? Can anyone share ~ % of GP a new partner would get?
Having a hard time understanding because these funds seem to have 20 - 30 partners. Seems like a cut of GP in a fund like this (these have permanent capital) is a pretty amazing deal, don't really see what buyside seats would rival that
They are bleeding aum to passive
I thought places like those had sticky capital and are expected to put up MSD returns regardless of equity markets
They are lol. He’s wrong
Bump
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