Can anyone comment on Shenkman Capital Management, seems to be little info out there for such a large asset manager. I gather that they are a long-only type manager with some alternative platforms, 30bn AUM range, and hear the analysts are sharp. Was wondering if anyone had additional insights or interactions with them and could comment on pay, hours, culture, anything.
| +38 | How much modeling do experienced HF analysts/PMs actually do? | 15 | 38m |
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They’re ~40bn boutique HY asset management firm started by one of Milkens disciples, one of the last few truly boutique HY shops. Couple of different strategies from my understanding - traditional LO accounts, credit HF, alternatives, opportunistic funds. Their model is research analyst covers sector for all products so get a lot of exposure to different strategies. They’re big in HY & Loans, seems like they’re the top counterparts to couple of big sell side desks so pretty active but can sometimes be a bit shady with their trades - heard they’re mostly covered by head of desks tho. They’ve got prob 15 PMs and 20 research (bulk of them analysts with few new research associates). Hear the research analysts are good altho don’t know much about them. Pay seems good, hours a bit longer than at a large asset manager, don’t know culture.
Heard some of their Senior guys are ex goldman, would you say the Juniors/Research Associates have a good opportunity set if they ever wanted to leave? Would they be seen favorably vs. other sell-side research analysts / desk analysts?
Ya I think they have a very specific and comprehensive research process that’s probably valuable no matter where you go. Not sure where some of the former research guys have went but I’m sure you’d be a top candidate at other buy side shops ahead of most sell side research guys
Shenkman is an exit opp so not sure why this part matters
Well generally, you want to learn wherever you go and in this industry, people move around every 2 weeks
Have a friend who loves it there. Hours are generally stable (45-50 with the occasional exception), and he claims they pay above market as a retention tool. Sounds a killer seat.
Above mkt vs long only mutual funds and clos…that’s their comp set
What's above market in this context $ wise
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