UMM Recruiting
So I just wanted to get some insights on my situation. I’m an incoming A1 at a BB coverage group like Citi/BofA/Barclays coming from a non-target school with 3.8 gpa. I’m set on UMM funds but I just want to know if I have a decent shot. I know I need to be specific to HH’s about what type of firm I wish to recruit to. I would just like to know (1) if I don’t land UMM on-cycle, does that screw up my relationship with HH’s making it difficult to recruit to a solid MM? (2) given the above, would you recommend I shoot for UMM based on my stats?
You should shoot your shot everywhere. The reality is no one has a “decent” shot because all processes are competitive. Yes, if you blow it during interviews, the HHs will assume your harder to place and not give as many looks (deemed as less likely to create pay day for them).
Agree, you should definitely shoot your shot at all places. I think it really depends on how prepared you are for on cycle and the story you tell headhunters. 3.8 won’t exclude you from certain processes at all. If you’re gunning for UMM, I’d probably tell headhunters I’m interested in UMM/MM opportunities. Assuming you’re in a coverage group that you’d like to recruit for PE within (I.e. industrials, tech, healthcare, etc.) then that should be a cohesive story. It’s also easy to gauge what firms you might be competitor for as after you tell HHs this they’ll likely say “yeah that makes sense, here’s some funds we cover that might be a potential good fit for you.” Based on the funds they name, you can get a sense for what firms they’d like to put you in front of during on cycle.
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