IB->PE->HF or IB->HF

Hey everyone,

HH's have been reaching out and I am not sure what to do or say. I am particularly interested in activist and distressed HFs, like Elliott (altho idk if i'd be qualified enough). Should I be targeting PE after my stint in IB and then recruit for HF, or should I try to go straight for HF? What gives me the best chance to get a hit on a HF. Is it possible for me to hedge my bets and do both? For context coming from a top BB group in NYC.

Thanks!

8 Comments
 

Activism and distressed are very different roles. Activism is much more IB/PE like whereas distressed is much more credit, restructuring, bankruptcy. Would solidify your interest between the two before recruiting for HF. Elliott is very unique in that analysts there can do both. UMM/MF PE is a good way to kick the can down the road if you aren’t sure yet. 

 
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If you’re in a good RX group you can easily go into distressed HF directly. If you want to do L/S equity at a MM that is also very doable. If you’re really in a top IB group and know your shit then you can go to a SM L/S equity shop and some of the Tiger Cubs (had a guy in my IB group jump to Maverick 7 months into the job). But if you’re really focused on the tigers like Viking Lone Pine Tiger Global etc. then your best bet is to do 2 years of MF PE in order to get your shot there, as those are the candidates they almost exclusively recruit for.

 

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