Preparing for Transition from Life Sciences PE to Long/Short Hedge Fund

Hey all,

I’m currently a 2nd-year associate on a life sciences royalty team in private equity. I have a science undergraduate degree, followed by an MBA and CFA. I've done a few years in banking, both full-time and through internships, and I'm quite confident with my modeling skills.

Right now, I do enjoy my role, especially attending healthcare conferences and doing scientific and financial due diligence. My focus is mainly on commercialized assets and a few pre-approval projects, with analysis often taking several weeks. However, I'm looking for something new and more fast-paced with higher earning potential, so I'm considering transitioning to a life sciences long/short hedge fund. I understand the risks involved but am excited about the challenge. I've had conversations with a few recruiters and members of these firms and they always probe my interest in a transition to their L/S firm but I want to make sure I'm prepared since I know just because I've done well in the royalty side doesn't mean the L/S side will be the same

I know hedge funds require more rapid idea generation and analysis for every meeting, which is quite different from the more extended analysis cycle I'm used to.

Questions:

1. How can I prepare myself over the next year to transition to a long/short investing role?
2. What type of analysis should I focus on to become a better equities investor?
3. What should I be reading, and who should I be following to stay updated on market trends and improve my investing skills?
4. Any specific resources or strategies you recommend for someone coming from a PE background to adapt to the hedge fund environment?

Any advice or insights would be greatly appreciated!

Thanks!