Exit Op for credit research analyst at Multistrategy Hedge Fund

Exit Ops for a fundamental research analyst working with a Credit Hedge Fund

Hi Folks,

I am working as a fundamental research analyst with a multi-strategy hedge fund ( more focussed on credit). I have a work-exp of almost 1.5 years. This fund is associated with one of the top bulge bracket firm's asset management division and has >$2 bn AUM.

However, I want to move to a NY-based hedge fund (preferably on the credit side & with a comparable size) as the mobility options to NY desk in my current fund are VERY limited. I want some advice on how and where should I start applying, the salary I can expect etc. coz I can't see many job opportunities related to my desired profile.


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Comments (8)

Nov 9, 2011 - 9:49am

Where do you live now? Anyway, that should be a pretty strong background for marketing yourself. Have you reached out to headhunters? This seems like a good time to use one because you're a) a strong candidate, b) have a specific type of role in mind, c) focused on larger funds, and d) trying to change cities.

Bloomberg Jobs is a great resource as well though usually for smaller funds. Your timing isn't really great both seasonally (not a lot of people changing jobs or hiring people 7 weeks before year-end) and market-wise, more things will likely be open. If you end up in a pre-MBA role at a big, credit-focused fundamental fund (like an Owl Creek for example), pay will be very strong.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
  • 2
Nov 9, 2011 - 12:22pm

Thanks for your suggestion.

Currently I'm based out of India but look at US & European markets for the fund. Regarding the timing, I agree that its not a great time to switch. Maybe I'll start contacting headhunters now and hopefully if the macro scenario improves the hiring might pick-up.

Nov 9, 2011 - 10:38am

Do you mind telling us a bit more about your fund and your day-to-day (just because I'm curious)? Do you work entirely with Indian, Asia/Pac, etc or do you do developed-world debt? Corporate I assume? Is it mostly high yield, project finance, investment grade, etc? Do you/does your fund invest in distressed? I don't know much about Indian credit markets.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
  • 1
Nov 9, 2011 - 11:56am

Well.....the fund is mostly HY & distressed corporate debt but is also involved in equities, converts etc to some extent. My work as an analyst is to do bottom-up analysis discovering mispricings across capital structure, investing on both a directional & relative value basis, exploiting arbitrage & event driven ops.

Right now the Indian credit markets are not mature enough for investing in a meaningful manner ( very limited financial instruments & inadequate regulations). I concentrate mainly on US and Europe corporate debt.

Nov 9, 2011 - 1:47pm

That's interesting that a BB's AM group has a hedge fund based in India doing developed world corporate debt. Is the team mostly local? Are the investors local or sourced through the bank's global AM platform?

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.
  • 1
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Nov 10, 2011 - 1:39pm

The analyst group is mostly local but the whole team as such is pretty diverse. However, the CIO (Chief Invst. Officer) and senior Portfolio Managers are based out of NY.

The investors are sourced through the global platform as it is hell lot easier to raise capital when you have a BB name associated with your fund.

Best Response
Nov 11, 2011 - 3:28am

Interesting thread chaps.

Since you're in debt I assume you'll have numerous relationships at other AM firms / banks and the general market, isn't there an avenue through them to explore a move? However, and I don't know if it's just me but it feels rather odd networking with people you work with, and who your seniors working with, on a daily basis. Not overly professional.

EUR HY is taking off though, should be opportunities on the buy-side there....

As a side; does the parent BB provide the sourcing / trading / brokering function of your fund?

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
  • 3
Dec 20, 2011 - 9:11am

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