Hedge Fund Interview Course

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Comments (16)

Sep 1, 2020 - 11:05pm

I am currently a student looking at different internship opportunities. Arena Investors is a firm that I am interested in due to personal research. There isn't too much about them on the internet and I am looking for more information about the firm, and any internship experiences.  

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  • Research Analyst in HF - Other
Sep 3, 2020 - 4:58pm

I think they're OK. Not particularly well regarded in the credit space but not like no name players in the industry - at least people know them. They have about $1.5bn in AUMish but that could be going up, and have like 40-50 investors so it's a pretty crowded shop for the amount of AUM they run. Wonder if people get paid there.

  • Analyst 3+ in HF - Event
Sep 3, 2020 - 5:42pm

Total firm size may be that high, but total investment team is probably no more than 10/12 and separated by groups with their own P&L 

  • Research Analyst in HF - Other
Sep 3, 2020 - 5:53pm

Looking at IAPD (linked below) - Yeah you're right - total employees are 55 and 22 are investment professionals and 5 more as Broker/Dealer reps. They've got $1.27bn in AUM so that's $57mm per IP head which is still really low for HFs but maybe more in line with Middle Market PE AUM per IP.

https://reports.adviserinfo.sec.gov/reports/ADV/269854/PDF/269854.pdf

  • Research Analyst in HF - Other
Sep 4, 2020 - 5:31pm

Yeah but ultimately management and performance fees are paid on the equity base right? Citadels IAPD shows them having $234bn in RAUM which is obviously like a 7x levered number. Maybe levered is more important for multi managers than unlevered but I figured for the other funds that the comp people get paid on the fee streams which comes off the equity AUM.

  • Associate 1 in HF - Other
Jan 12, 2021 - 10:53am

Small esoteric private credit deals. See them involved in some complex situations, and Zwirn is always in the media talking about how sponsor-backed lenders are the devil incarnate. He probably would be running a much larger firm by now if it wasn't for that airplane purchase. 

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