Elliott / Third Point / Aurelius
Seems to be no info on this, especially because Elliott and Aurelius are very secretive about hiring.
Wondering where the distressed sides of these activist firms hire from (Elliott and Third Point have activist sides separate from distressed teams, not sure about Aurelius). It seems like restructuring bankers tend to go to distressed hedge funds like DK/Anchorage/Baupost/York or Oaktree / Apollo / Centerbridge but Elliott and Third Point have analysts in BOTH the activist side AND the distressed team that went to top coverage (like DB REGAL) or CS sponsors/levfin -> PE (carlyle/hig) to Elliott/Third Point. Also where the hell does Aurelius hire from? Why don’t restructuring analysts or analysts at distressed hedge funds like the ones mentioned above go to shops like Elliott, Aurelius and Third Point when they are famous distressed shops and seems like the restructuring IB -> distressed HF path would be slightly more relevant than BB coverage/levfin -> buyout.
Sorry for the long post, and thanks.
Those places are notoriously difficult to get into and for Aurelius in particular they care very little about your prior experience, more about your personality and sheer intellectual horsepower that you can display through the process. Robin Judson runs their recruiting and they filter automatically by school pedigree, GPA and SAT score for a start. And they will even ask for your school transcript in the process.
I interviewed with Aurelius for a research role straight out of undergrad and they had me take a pretty in-depth IQ/personality assessment.
Indeed. I took that CALIPER test as well and it was ridiculous. needless to say didn’t go further. Elliott also makes you do it. one of the things Aurelius took from them.
Straight out of undergrad is pretty intense though damn.
Aurelius hires out of undergrad? was it an informal process or do they have an actual pipeline
Elliott and Third Point have activist equity teams that are likely silo'd off from the broader distressed & credit teams. Credit makes up a smaller part of Third Point's business. It is sort of moot to suggest at either of these places you have to pick to be activist or distressed as distressed is active by nature.
My understanding was “activist” implied equity, while “active” implied distressed debt?
No people would say Aurelius is an activist hedge fund and they almost exclusively do distressed debt/RX trades with a litigation element. you won’t see them buying up stock of GE and trying to get board seats and change the strategy
Third point distressed is literally like 4 people so trying to generalize their hiring patterns isnt a very valuable exercise
I read the OP twice and it still doesn't make any sense. To keep it very simple - they hire via recruiters (Robin, DSP, SG, S1 etc.) like any other established HF and typically on an as needed basis though places like Baupost and historically CBridge/OAK have started to implement the hire 6-18 months in advance approach.
Gotcha
how do they hire undergrads?
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