Hey everyone,
I'm a first year MM IB analyst at a Southern firm. I love my firm, but really look to get to Chicago for a buy-side opportunity, as I grew up around there and really want to end up back up there before I plant my roots somewhere.
Interested in PE / HF at the end of my analyst stint. Does anyone have any advice on making this happen in Chicago, coming from another city? Thanks for any advice.
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PE in Chicago is a pretty small set compared to most other cities of similar "size" because there's not really a particular angle - (SF has tech, Houston has energy, NYC is NYC, etc.) Also, a fair number of larger firms have gone zombie/are no longer investing. Most bigger firms use a HH. Chicago also has a lot of smaller firms, and many of these firms don't use a HH and rely on referrals (so maybe think about networking... though this didn't prove all that fruitful for me). There's also a resume book that goes around, and some people have had success from it: http://peachicago.com/about-pea-chicago/. You might also take a look at private debt firms, as there are a couple of those. Also, there are a fair number of family offices that do PE style investing, like the Pritzkers and the Crowns if that's your thing.
Not sure about HF recruiting except that there are a number of larger ones (Citadel, JHL, Balyasny). Be prepared to run an investment pitch by a recruiter if you say you're interested, otherwise they won't forward you on.
At the end of the day, Chicago is really a trading town. There are a fair number of buyside opps, but the problem is finding them so you'll probably have to do some more legwork than someone who's not based out of Chicago. You'll likely come across a bunch of firms that you've never heard of.
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