Seems like a solid shop in terms of AUM/IP but have not seen much about it on here. Anyone have an idea about: 1. Strategy: Long term/Short term? Equity/Credit? 2. Perception of the shop on the street 3. Culture 4. Comp
| +61 | How much of success in this career is just luck | 11 | 3h |
| +28 | Would you work at this distressed fund? | 6 | 2d |
| +22 | Choosing a Seat in an AI World | 12 | 20h |
| +19 | At what point is it no longer luck | 11 | 12h |
| +15 | Feeling unqualified for new job | 6 | 3h |
| +13 | Interview at Macro HF , what should I expect? | 3 | 4d |
| +12 | SM HF to LO as a junior? | 4 | 3d |
| +10 | Data science at SM | 5 | 1d |
| +9 | Hedge Fund Sector Advice | 4 | 1d |
| +7 | Covering less deployed sector | 2 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Bumb
Very well regarded l/s cross cap investor but largely known as a HY opps/distressed manager. Several successful spins from the firm but not sure about comp or culture. I would guess its comparable to silver point etc
Feel like comparing them culturally to silver point is a bit of a disservice since Silver Point has a notoriously hard culture. Retention / longevity of analysts at Redwood appears better than Silver Point.
On recruiting, they also primarily recruit mostly people with existing buyside experience, primarily at other distressed credit managers and there appears to be a decent representation of analysts with legal degrees. Recruiting I believe is through a structured process that I've been pinged for before.
Just how bad is Silver Point culture? An hours thing or dealing with screamers…or both like Apollo?
Any idea on how much equities make up of their total AUM?
are they recruiting?
There’s definitely been some sort of shift in Redwood in the last 12-18 months. Not sure what it is but usually they would hire once a year, if at all. Now it seems they’ve made several hires and some have been particularly junior in nature (taking people from the sellside with very little experience). Maybe it’s juniorization to account for a decent level of turnover from more experienced analysts that didn’t make Partner post COVID.
What recruiter do they use?
Cascade is one of them.
Any idea of how much equities they do?
It varies but it’s unconstrained so they can just straight up buy stocks as a fundamental play and not related to a distressed situation/event driven. They don’t really short tho.
they got a new CIO
No this is not related to Kliksberg taking over from Kolatch. I guess it could be but the change in management took place well before this
They also likely need more headcount after launching the redwood BDC. Wouldn't be surprised if some of that was inter-connected as they also hired a head of private credit originations as well.
So are some of the new hires not working on the public/distressed and just there to do BDC work?
.
they made some absolutely awful investments in recent history. and turnover got pretty bad for what was once a very low turnover shop (true for other firms too)
what was the source of the turnover?
.
curious what caused the turnover as well
Pretty sure they have gottten hosed from a mark to market perspective on their China / India bets. A couple partners and another analyst I believe have left in last six months or so.
Are there any funds out there with a similar mandate allowing IPs to basically invest in anything?
Bump
I think places like Nut Tree or Empyrean may fall under this
.
updated views on redwood?
bump
Bump
Veritatis cupiditate ut ratione aliquid recusandae. Eveniet et unde quibusdam quia. Est consectetur corporis velit placeat ad doloribus.
Fuga tempore ut quidem enim aliquid. Voluptas qui asperiores laboriosam quia quod. Temporibus dolorum vel vero aliquam deleniti iusto alias quas.
Quia autem ipsam quibusdam fuga ea. Exercitationem vero iusto consequuntur aut consequuntur. Tempora debitis nesciunt eius omnis voluptatibus. In voluptatem commodi veritatis. Ipsam ab id officia odio ut. Dolores ullam voluptas praesentium et. Aut enim temporibus ut vitae quisquam aut et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Assumenda dolore dolores et nihil aspernatur itaque. Voluptatem asperiores et dignissimos maxime et harum deleniti quia. Ipsum rerum maiores cum aspernatur aut minus.
Autem magnam non earum et in. Cum praesentium unde minima officia optio nihil aut. Ducimus ea labore sit nam reiciendis et repudiandae. In amet aut distinctio sint qui. Laborum fugiat dolore rerum adipisci quis dicta. Voluptatem et assumenda non.