Equity Research Exit Opps in LA

boom2014's picture
Rank: Senior Chimp | 16

Hey everyone,
I am an equity research associate based in LA and looking at exit opps that are also in LA (very important for me to stay here). One of the more well respected shops in LA (not that there really are that many), and looking to do a transition to the buyside. I did investment banking in nyc at a bulge bracket before this for a little over a year and came from a semi-target undergrad b-school (think UMich, Northwestern, Berkeley, NYU, Duke). I like ER much more than IB, and want my next position to be similar in the sense that it is a markets based role therefore I am looking at buy side research gigs and not really considering PE. I would love to get into a HF, but I know they are scarce here in LA and I have pretty much nuked my chances coming from ER after IB. It looks like there are some mutual funds/Asset Management shops out here that seem to have the most going on in terms of positions for people with my background. Can anyone confirm this or recommend some of the more reputable shops to be looking into? Anyone have any info on culture or comp at some of these places? I don't really have any contacts out here that can help me out, so I am going for a hail mary here. Am I overlooking anything?

Thanks in advance.

Comments (13)

Jul 11, 2015

Duke is not a semi target. Its a target.

    • 1
Jul 12, 2015
State of Trance:

Duke is not a semi target. Its a target.

Knew somebody would comment on this as soon as I read it, typical WSO. All of the schools you mentioned are targets, none of them are even close to semi-targets except maybe Cal, but none of this is really relevant.

There are not many HFs in LA, there are a good amount of PE firms and almost all BBs have IB there, but HFs are basically just concentrated in the Northeast, Dallas, and a little bit of SF.

Not sure why you are dead set on LA if you really want to move to a HF, is there really that important of a reason for you to be there?

Jul 13, 2015
jss09:

State of Trance: Duke is not a semi target. Its a target.

Knew somebody would comment on this as soon as I read it, typical WSO. All of the schools you mentioned are targets, none of them are even close to semi-targets except maybe Cal, but none of this is really relevant.

There are not many HFs in LA, there are a good amount of PE firms and almost all BBs have IB there, but HFs are basically just concentrated in the Northeast, Dallas, and a little bit of SF.

Not sure why you are dead set on LA if you really want to move to a HF, is there really that important of a reason for you to be there?

Thanks guys. Yea the whole target/semi target thing really isn't the point of this post (are people really trolling around these forums to see how these schools are classified? It's a beautiful day out, go out and enjoy it!). LA is important to me because my entire family is here and are dependent on me financially. My big concern with AM I guess is the comp--I know the comp is smaller, but I can't really afford below a certain level given certain financial obligations I have. If a research associate is only making ~60k in base salary with a few years of experience under my belt, it just wouldn't make sense for me. Is there any truth to that ~60k number? I tried to do some research and was the only statistic I came across. Thanks again everyone.

Jul 11, 2015

Capital Group is HQ'd there and I'm pretty sure a lot of their people are in the BofA building. I think there's a fair amount of AM shops in LA. Quick google search: http://www.cbjonline.com/a2labj/lists/2012-Money-M...
I wouldn't X-out hedge funds. I'm not in HF's so maybe someone who is can comment but you have a year of IB and research, which seems like a good fit. And I don't know about LA specifically, but non-NYC cities tend to recruit out of non-IB more often because they don't exist in the number that they do in NYC and people don't have IB nocturnal emissions in quite the same quantity.

Jul 13, 2015

You should reach out to Carter Pierce (along with other HHs) with your situation and see if they have any leads. They are a big HH out in LA.

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Jul 16, 2015

Yep, in contact with them and they send me a lot of stuff. 95% is PE shops though [as is typical for LA]

Jul 16, 2015

Capital (good luck)
Hotchkiss & Wiley
TCW
Causeway
PrimeCap (also good luck)

All solid equity shops. I'd also take a look at Brandes down in San Diego (assuming you like value). They almost never hire, but shit, who doesn't want to do IM in San Diego??! Living the dream if you ask me.

If you're interested in fixed income obv some very large managers (PIMCO/WAMCO/Oaktree/DoubleLine) down in Socal as well... Can't really help you on the HF side other than go talk to a headhunter. Not many down there imu.

Jul 16, 2015

oaktree capital

Jul 16, 2015
Jul 16, 2015
Jul 16, 2015

This is an entry level analyst position within the investment management team and the primary role is to support all aspects of the portfolio management process. The analyst will work closely with the Portfolio Manager by providing analytical support to assist in the purchase, sale, monitoring and reporting of investments in fixed income securities.

Company Overview:
* CorAmerica is an Asset Management and investment firm based in El Segundo, CA specializing in commercial real estate debt and equity
* This role will be in the commercial real estate related debt investment management group, which manages fixed income securities (CMBS) on behalf of third party clients.
Responsibilities/Duties Include:
* Prepare and analyze daily, weekly, monthly and quarterly portfolio related reports, both for internal and external use
* Assist in the development and maintenance of various databases tracking portfolio and bond market related data
* Responsible for all aspects of trade support
* Track the relevant financial markets and provide timely color to the Portfolio Manager
* Assist in the acquisition analysis and monitoring of the underlying fixed income investments, which will include analysis of commercial real estate properties that serve as collateral for the securities
* Help prepare materials for meetings with clients, prospects and senior management
Qualifications:
* Bachelor's degree is required, preferably in a related discipline, i.e. finance, math, engineering
* 0-3 years of related work experience; for candidates with no full-time work experience, relevant internships are preferred
* Strong interest in financial markets; basic knowledge of fixed income a plus; no real estate knowledge is required
* Excellent financial, mathematical and statistical skills
* Advanced knowledge of Microsoft Excel is required; knowledge of Visual Basic and Microsoft Access a plus
* Working knowledge of Bloomberg preferred
* Strong attention to detail, analytical and problem solving ability
* Ability to multi task and meet deadlines in a high pressure environment
* Self-starter with good communication skills

Please send resumes to [email protected] and reference "BBG" in the subject line.

Jul 16, 2015

thanks everyone. Submitted my resume to a few of these places already when I started my prelim search. Theres a few names on there I hadn't come across before so thansk for that!

Jul 16, 2015
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