ExodusPoint Capital Management
Hi! New user here. Does anyone know anything about ExodusPoint Capital Management as far as for pay, culture, reputation, etc?
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they pay 1% better than millennium to PMs...similar risk mgmt. The head (Gelband) ran Lehman Fixed Income, and then millennium fixed income for 10 years.
What does millennium pay heard it varies between 15%-20%. So does exodus pay 16% or more towards 20%?
Yeah mostly fixed income but building up equities now. They've poached a lot of ppl from Millennium. Launched with $8bn.
Biggest launch in a while, capped it at $8bn but had much more interest
Biggest HF launch ever.
Now that you have some basic info, curious why you're asking. Hopefully you were contacted by them for a spot.
They were flat for the year (2018) and somewhat disappointed relative to the high profile of the launch.
Exodus is still in PM hiring mode. Many PMs that they have hired in the pipeline have 1-2 year non-competes...so many PMs are sitting on a beach for 1-2 years until they can join the firm and start trading. So, will be 1-2 years before this firm is fully up and running. The firm is staffed and trading....but its a process and they are still growing.
on the hour side, my friend went there end of 2018 as an algo trader and told me they leave at 7 everyday (which I think is reasonable as a new launch?)
Is that just in his group, or everyone as a whole?
Bump, I'm having a convo with a team here... Does anyone have experience with them? I'm primarily wondering if the infrastructure is better than Millennium (as a newer firm it would have to be right?). I would imagine execution speed/quality to be an important edge for short-term/event-based strategies that seem popular at multi-managers.
What about the "prestige factor"? I'm pretty worried that if the PM blows out too quickly, a job hunt will be annoying/difficult. Seems like their payout % is good and they're attracting people from Schonfeld/Millennium which are already quite good.
What is their willingness to keep on analysts after the PM has blown out?
Bump, any more news since Jan?
Other than them raising more money what’s their strategy for PMs? Is it market neutral or L/S?
market neutral is a subset of L/S. They run very similar model to Millennium.
I'm starting to see their people out and about more whether at sell side events or on investor calls. Would love to hear more about Exodus. I have heard mixed things from folks in different asset classes. Buddy in rates arb prefers it over his prior shop. While, I know several other folks who didn't last 3 months and were pretty negative on the firm.
I also know a guy who lasted less than 3 months.
Came across a recent review on Glassdoor painting a pretty negative spin on the firm. Is it really that bad? Perhaps PMs like the platform much more than analysts? Or not even PMs ...
1 analyst and 1 analyst/trader type. They were in different asset classes, different teams and different offices lol. Analyst friend ended up going back to the sell side and analyst/trader friend is getting his own PM book at a different multi-manager.
Doesn't sound too bad. Both landed on their feet. Though it seems both were gone for different reasons. The analyst was probably fired by PM, while the trader may have not ramped up fast enough or not bringing in enough PnL. The MMs are definitely brutal and I have no idea why kids fresh out of undergrad would even consider joining (especially places like pt72 academy program).
Because of the tv show "billions" (half joking)
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