I'm not sure about Bx but heard these roles are mostly fundraising/sales and not technical at all.

Do you know if people usually find these through HH or on job websites?

 
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Hey there - to level set, these functions aren’t investing, and you won’t be putting $ to work or taking risk.
 

Ignore title, I went from a top product group in banking to IR / product at a prominent hedge fund, but have friends doing IR at MFPE platforms and we actually have a good bit of overlap.

At the junior level, it’s about supporting the investment team with respect to digesting / communicating / marketing the investment portfolio to your LP base. Usually, that comes in the form of owning internal / LP-specific marketing materials, answering RFIs / RFPs, and doing some top-down product research (I.e., what products are your LPs most interested in and why?)to help make sure the platform is delivering the best to their LPs. gets especially busy during fundraising - from the start of the process, and providing support (ie dataroom mgmt, diligence support) through close
 

The actual fundraising / client-facing fun happens at the more senior level. At Bx specifically I have a friend who said that you’re not truly involved doing the wining & dining until you’re several years in (which makes sense…what LP is going to commit huge $$$s to a 25 year old who barely knows what PE is yet?) 

while it’s not investing, it does mean you have to have a bulletproof understanding of the fund’s investment thesis and performance drivers. You have to have a strong understanding of the macro backdrop and broader view of each asset class you’re working with. 
 

pay is a haircut to investing, but so are hours. As a first year associate with a couple of years of top banking experience I was quoted at ~$200k all-in for a few MFPE roles  in IR, with a lot of runway for growth.

i chose to go to do something similar at a hedge fund, making $220k as an associate with a VP promotion incoming (5 YOe total) where I work really closely with our PMs, C-Suite, and other internal functions and have a ton of visibility. Work ~market hours (7:30-7ish M-F with almost zero weekend work) and I am loving it! 
 

too many people worried about PrEsTiGe on this site but - if you’re coming from a marketable background (like me, top Ivy League UG + top banking experience), LOVE reading and writing (being a history major helped) and are sharp (my environment is really academic!) there are some awesome roles out there with great comp and WLB

hope this somewhat helps! 

 

Hey there - to level set, these functions aren't investing, and you won't be putting $ to work or taking risk.
 

Ignore title, I went from a top product group in banking to IR / product at a prominent hedge fund, but have friends doing IR at MFPE platforms and we actually have a good bit of overlap.

At the junior level, it's about supporting the investment team with respect to digesting / communicating / marketing the investment portfolio to your LP base. Usually, that comes in the form of owning internal / LP-specific marketing materials, answering RFIs / RFPs, and doing some top-down product research (I.e., what products are your LPs most interested in and why?)to help make sure the platform is delivering the best to their LPs. gets especially busy during fundraising - from the start of the process, and providing support (ie dataroom mgmt, diligence support) through close
 

The actual fundraising / client-facing fun happens at the more senior level. At Bx specifically I have a friend who said that you're not truly involved doing the wining & dining until you're several years in (which makes sense…what LP is going to commit huge $$$s to a 25 year old who barely knows what PE is yet?) 

while it's not investing, it does mean you have to have a bulletproof understanding of the fund's investment thesis and performance drivers. You have to have a strong understanding of the macro backdrop and broader view of each asset class you're working with. 
 

pay is a haircut to investing, but so are hours. As a first year associate with a couple of years of top banking experience I was quoted at ~$200k all-in for a few MFPE roles  in IR, with a lot of runway for growth.

i chose to go to do something similar at a hedge fund, making $220k as an associate with a VP promotion incoming (5 YOe total) where I work really closely with our PMs, C-Suite, and other internal functions and have a ton of visibility. Work ~market hours (7:30-7ish M-F with almost zero weekend work) and I am loving it! 
 

too many people worried about PrEsTiGe on this site but - if you're coming from a marketable background (like me, top Ivy League UG + top banking experience), LOVE reading and writing (being a history major helped) and are sharp (my environment is really academic!) there are some awesome roles out there with great comp and WLB

hope this somewhat helps! 

Hello, I truly appreciate your time responding to my question and yes, your response is very detailed and helpful. I think, for me and my family, that we have wanted to move to a city where there is no snow and more affordable to live and to have a better work life balance. 
 

I am not from a top bank and I am a male. I heard they hire pretty females due to the nature of the role, but I think nowadays, I need to be happy and make decent income wherever I go. So thank our for your input. 
 

Do you think you have a good career progression at your Hedge Fund? Will you get to the income level you anticipate versus your friends who are at a traditional buyout fund? 
 

One day if you decide to move to a traditional investing role, do you think your current position will prepare you enough for such a transition?

Again, thank you!

 

Career progression looks good for me given the lean team and the high $AUM / head. I’m most focused on professional longevity and personal balance, and not only do I have immediate growth in this role but a lot of flexibility / internal mobility. 
 

comp compared to my buyside friends will likely not be the same, short of me having a knockout career and them not cracking into that top echelon in their respective seats. 

The skill set is not immediately transferable to direct investing. On the side, I’m reading a lot of research and am very up to speed on our strategy / portfolio, but am still very much on the “outside looking in”. If I want to move in to investing, I would likely need to go and get my MBA or CFA, which I think the fund would be supportive of, but I’m more focused on doing my best here.

The skill set is very transferable - we have alums jumping into head of marketing / IR at our competitors or new funds all the time. Having subject matter expertise / deep understanding of specific securities / strategies will always be in demand! 

 

top MF IR people can clear 7 figures, including potential carry. 

It's not MF PE comp, but you're also working half the hours. On the scale of $ vs WLB and interesting role, it's severely underrated, especially at a MF where the funds sell themselves and people are happy to take your call. Less fun in a LMM or MM role because you're hustling a lot more to even get people on the phone.

 

This is really helpful thank you. Can you talk about your recruiting process and how you found the HF? Loaded question but are there a few MFs you’d recommend targeting / shooting for? Also what’s the timeline to exit (color: I’m a second year IB analyst at a top tier bb) 

 

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