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.
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.
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.
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.
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.
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.