SM / MM hedge fund recruiting from PE

Coming up on two years at a NYC megafund and am exploring the idea of working in public markets. Obviously went through the whole PE associate recruiting process (off cycle), but much less familiar with how hedge fund recruiting works coming from PE. If anyone has info on the below it would be greatly appreciated:

1. What are headhunter intros like? Are they generally the same as PE associate recruiting? (tell me about yourself, why HF, walk me through a deal, etc.) Would they ask for a trade idea in an intro call? Are these typically more casual than PE associate recruiting? How much power do the headhunters hold?
2. What are timelines like? Months? Weeks?
3. Are actual interviews technical or more thinking-based? Obviously have heard that a pitch / Trade idea is the most important part but is this structured as a conversation or a full blown case study and presentation like in PE?
4. Are there model tests? Aptitude tests?

Really don’t know too much about the above and couldnt find much online so any info would be immensely helpful!

8 Comments
 
Most Helpful
  1. Headhunters are somewhat similar. They'll screen you to make sure you can do well. Demonstrate genuine interest, stock pitches prepared, etc. Know the sector or do some basic research to understand what the role is (traditional L/S market neutral like MMs, directional XX industry at a SM, activist equity, credit hedge fund etc)
  2. Long. Unlikely to convert first few processes. Anywhere from 6-10 rounds including 1 model test and 1 case. usually 1-2 technical rounds with a PM or senior analyst and more behaviorals. At MMs, typically will also have BD / HR screens. Could be faster at a SM or if already in industry
  3. Both. Case very important. Some guys also do verbal cases in interviews to through you off. Some cases are a bunch of random papers, some are structured as write-ups, some are model test + write-up, some are just model tests. Lots to prep for but if you do PE right and are interested, should come semi-naturally
  4. Both
 

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