Thoughts on AB Arya Partners?
Any thoughts on AllianceBernstein's multi-manager HF branch how junior comp, career progression, etc compares to other pod shops for L/S fundamental equity?
Jan 29, 2023Jan 29, 2023
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Comments (9)
Small books, lots of teams, not a lot of flexibility, haven't scaled. That's my impression. I know a few good people from there who have left. I do not know anyone who is still there as far as I know.
The big pods are in a league of their own.
Then you have a bunch of mostly smaller, mostly newer, attempts at copy-cats: Cinctive, ARYA, Greenland, etc.
Funds like Verition and Exodus Point are somewhere in between.
Thanks for sharing. Why do you think Arya failed to scale despite being around for a good couple of years?
Who hasn't failed to scale. They're likely two decades behind the last pod shop who scaled well (baly that launched in 2001?) and 30-40 behind the others who launched in the 80s and 90s. That's a huge technology (+ other areas) hurdle to overcome.
Not to mention the money the established pods will throw at people (capital and guarantees). How do you hire the best talent when you (can/do) offer a fraction of the capital and a fraction/no substantive guarantee and other pod shops can do both?
Not necessarily a time thing. Brevan scaled their platform in the past couple of years. Already >10bn and was up 30% last year
Honestly, likely answer is that AB isn't a hedge fund, it's an asset manager. Doubt they understand that you need to spend money to build infra and recruit the best talent. Can't put up quality returns without quality risk takers.
I was going to say...the pod shops have nice tailwinds, why wouldn't AB want to put capital into this business and get it right?
Because it's not that simple. You and I can't start MET ON WSO pod hedge fund and just expect to crush it as a pod shop because we call ourselves one.
Agreed, it is not that simple. But if we're talking about an already established, yet subscale, platform like Arya why isn't throwing money at it to build out those additional capabilities the answer?
I'm curious as well... wouldn't a AM like AB see how much investor interest there is pod type shops and try to replicate that by scaling up their platform more>
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