Do Associates' backgrounds convey information about the quality of a fund?

Obviously not the be all and end all when evaluating a fund for a job.

But is it shallow to look at a fund whose associates went to non-targets and tier II banks and think that tells you something about the quality of the fund?

Discuss

 

Yes if the fund both (i) recruits on cycle and (ii) is established.  A few very strong start up funds I know have what looks like poor quality associate classes.  I also know a couple of funds that don't heavily recruit on-cycle which levels playing field for the top bucket grinders at worse banks.

Also only if its a majority of the class.  Having one or two can be an abnormality (that dude from a flyover state school / Stephens at Blackstone buyouts comes to mind).  

 

Is this a serious question? 

“do the quality of students mean anything for quality of the school!”

”do the quality of players mean anything to the quality of the team?”

 
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