Tried looking and didn't find much in the archives, but I just wanted to get a sense of what people think the top multi-strat funds and how they differ/rank against each other. I often see debate among single PM focused funds, but don't know what differentiates the multi-strat funds from each other.
I guess it's very PM-dependent, but if you had to choose between Citadel, Millennium, DE Shaw, Och-Ziff, etc., how would you rank them in terms of culture/pay/lifestyle? Would be in the perspective of working a L/S equity focused fund.
Thanks and would appreciate the input.
Millennium, but only if you are confident you are good.
If you're a quant, Citadel and DE Shaw. I'm not too sure how strong their fundamental business is.
Thanks. Yeah, I'm trying to get a better perspective on multi-strats with fundamental focus. I know most are quant, but was wondering which have the best fundamental L/S shops.
Also, sort of unrelated, but do you guys think the current state of the markets will affect HF 2016 recruiting?
Overall? I'm unsure. As always, the few hedge funds funds who actually add value and have consistently strong performance will continue to flourish. However, these are the overwhelming minority. Most hedge funds simply do not add value and will continue to close.
Honestly, it's a volatile business and no one knows what will happen in 2016. All you can do is try and get into the best shop you possibly can.
Thanks for answering. For a shop like Millennium, I know they have a bunch of platform funds that focus on different sectors. Is the strategy different within each? I mean, do some employ fundamental, bottom's-up approach, while others are more quant focused? Does it just depend on the PM's philosophy?
Could be similar, could be different strategies. Think of Millennium as a collection of independent operating mini-funds. Each PM has its own team and allocated capital.
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