What does the HF scene in Dallas look like?
The title says it...who are the funds in the Dallas area? I'm curious since I don't know much about the HF scene and I am working in Dallas this summer.
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What do you mean scene? What does the hedge fund scene look like in NYC? It's not like you are going out networking with other funds unless you have an established network of friends in the industry. Otherwise, people at funds don't like to share their alpha and talk specifics / socialize.
With that said, Dallas is by far the most attractive contender for funds I think city wise. There are many PMs going there and new funds cropping up. It is relatively conservative (good for finance), has an established scene, offers a little bit to everyone neighborhood wise, tax advantages, family oriented, best schools outside of NYC, etc. The days of "equities in Dallas" are long gone.
The Miami trade feels a bit heavy and terrible culture for funds (party, flash) / raise a family (established private schools very few and were at capacity pre covid). It only makes sense if you are splitting it 6 months a year in NYC or something just for taxes. It's just not a smart trade. I did it last year because a few friends did but and am pulling the plug soon for CT. I think CT has been pretty sensible compared to NY/NJ and is the real beneficiary here with Dallas. Honestly, if you are doing that type of Miami trade, why don't you just do the Puerto Rico trade and get out of Federal too because it's a trade where you can't have your family there or kids in school there. Yes, I understand there is a quality of life difference - and if you are asking that you don't understand the nuance to my point.
Thank you for your insight. I should have been more specific with my question. I was interested in learning about the different funds located in Dallas. Who are the largest funds in the city? Who are the most active in recruiting? Etc. I have no insight at all into the different Hedge Funds located in Dallas. Someone below alluded to how a simple google search can solve the issue; however, I haven't seen a lot of information with true insight. Compared to someone who is actively working in the industry, a google search doesn't do justice to provide clarity on what the HF market is like in Dallas.
Maybe it is you who are lacking in true talent to offer them? It's just not a strategy to get a job by "networking on the scene". Unfortunately, Gen Z is an entitled bunch that wants to take shortcuts and are in for a very rude awakening in life.
Hey quick question since it seems like you are in this field, would appreciate some advice in my situation:
I am junior at NYU. I enjoy real estate development and I also enjoy (mainly) asset management mostly with hedge funds and private equity. I want to get into asset management first on Wallstreet. This is my goal for a couple years, then I later want to get into real estate development in the midwest.
I was rejected ED to Wharton. I applied ED2 to College of Arts and Science at NYU. For two years, I was a NYU Economics Major at CAS(took quite a bit of Econ courses). Now on this third year, I switched over to Schacks Undergraduate Real Estate Program in NYU SPS since I wasn't able to take any RE courses unless I switched schools within NYU. I am taking 2 minors with this RE major from Schack (business from Stern, Economics Policy Concentration from CAS). Will this pathway still get me into Asset management firms on Wallstreet or IB? Or should I go back to my major of Economics.
If I continue with the RE major and finance minors, will I still be able to place into Wall Street? Or is simply staying in CAS Economics (literally didn't learn any applicable concept) a better bet for Wall Street?
Also, is a CFA Level 1 recommended for placement into Asset Management?
Thanks!
What kinds of responses are you expecting? Have you even bothered to google your question, look through the locations listed on 13Fs, etc?
How does the fact that you’re working there provide any information of relevance? Are you hoping someone will give you some names and you can just swing by? Because PMs would LOVE that.
I get that in the age of social media you can ask anything, no matter how lazy the question, and get a bevy of responses, but have you bothered to ask yourself how useful those responses will be and how even the slightest amount of research into a given topic can increase the quality of the question and relevance of the answers?
^^ These two dick-ish comments from HF PM's really make me NOT want to join the industry. OP is literally just asking for a list of the big players, which any Dallas-based Hedge Funder can give in 1 minute vs. a Google Search that turns up every investor with at least $100M AUM.
Or OP could just do the work themselves and come on here for thoughts on specific funds?
Your name is “DBisntaBB” but yea, we’re the dicks. God forbid an industry who’s sole job is to properly aggregate and interpret information looks for similar qualities in potential candidates.
Also if you’re looking for hugs and “Kumbaya” around the fire maybe hedge funds aren’t for you, might I suggest childcare.
Ah yes, my 4 years in IB is akin to childcare while your time "properly aggregating and interpreting information" is clearly tougher than SEAL training. You should consider going back to banking; the pretentious attitude would fit right in.
He is too lazy to even be specific about type of fund or his skillset and how he could fit that into a fund. What kind of entitlement doesn't have a basic idea on this but thinks he can get a job by just networking on the scene?
Maybe he would like to try my wife too while he's at it?
Highland Capital
Q Investments
Canyon
Fortress Investment Group
P
R
I
C
K
Homeboi he's just asking for a lay of the land (which is SUPER common on WSO). There are plenty of threads out there that are literally like "What's the LA banking scene like?" He's not literally asking for a list of HFs-- he's asking for "information with true insight."
Exactly, I didn't even state an intention of joining a fund. I'm not acting like someone who knows a ton about the industry—quite the opposite. I didn't realize when asking a general question on a finance forum, general questions weren't permitted. A few people below listed like 5 funds in the area—that's amazing, simple, and helpful. I didn't know those 5 funds were in the city, now I do. I'm not from Texas and I am ignorant in the realm of hedge funds, so I had the genius idea to ask the hedge fund forum for basic, general information. These asswipes had to get their jollies in by slamming the intern in asset management. I hope they had a great time "teaching" someone a lesson on WSO.
I just went through the process of breaking into a Dallas HF. There’s tons of HF’s in dallas with AUM between 500mm-2Bn. The hardest part is breaking in since all of them are so closed off, keep small head size and hire based off of connections. I know some that hire 1-2 analyst straight out of college, these guys usually
Graduated from SMU or UT and made alumni connections. I made the switch recently but I have PE experience along with experience as a Fixed Income Trader. The hot spots for funds seem to be the Crescent in Uptown. This is also where IB firms Houlihan Lokey and Stephens have offices. Additionally Old Parkland has a lot of capital management firms. And lastly the Preston Center, I have a few colleagues that work for firms throughout these areas. Happy to answer any additional questions.
Real quickly on the top of my head like Maverick, Crestline, Carlson, Highland, HBK
Canyon moving their LA office down to Dallas, partners fed up with tax scene in Cali
Whaaat? First I’ve heard of this. Is this confirmed?
A friend of mine works on one of their credit desks. He just ended his Century City lease and said he, and the rest of the shop, are going down to TX. Went on a 15 monologue about California taxation.
Founders and some of the senior folks are moving down there, but they will maintain an LA office
OP sure set himself up for a good riddle based on his Q
Like others have said, you have the bigger funds like Maverick, Crestline, Carlson, Highland, HBK, Ranger, Hayman, and Smith, a few others too. There are about 10-15 funds under 200 AUM, low churn, hire a few kids out of UG (prior SAs). 5-8 in the 200m-1B range, same story. Lot of SMU, UT and UTD grads at these funds. These smaller funds should be pretty easy to find on LinkedIn.
Lots of funds in the $300-1bn AUM range. Handful of funds in the $2b+. To my knowledge, fairly low turnover. Finance community is small(x knows y at z fund etc.). If you can land an HF gig in Dallas, you’ll have fun. Relatively low COL and solid nightlife.
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