How to transition to PM at a multi-manager?

Rank: Neanderthal | 2,437

I've been an analyst (in multiple sectors) in long/short funds for a few years now. Trying to frame out my next few years plan, I'm thinking about the transition to portfolio manager. What does it typically take to become a portfolio manager at a place like SAC, Millennium, Citadel, or some of the newer/smaller places (Folger Hill, Visium)?

Obviously, ideally you have a track record already but since I'm an analyst I won't necessarily have one. How do people get their first shot at pm gigs at places like this?

Comments (3)

Jan 31,2016

Usually a track record of making good calls helps to focus senior management. LEt them know you are committed to your strategy and to the firm but also that you are ambitious and ready to make the step up. Start showing that you can think as a PM and you have some understanding of how to manage risk. Once you show this for a period of time, all you then need is for a slot to become available ( someone gets fired or leave) and then you should be in contention. Worst case you can jump ship but then you obviously lose the good will you have built where you are now.

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Jan 31,2016

Many of those shops have teams that are dedicated to sourcing PMs. It might be worth a little linkedin stalking to see if you can get in touch with anyone in that role and talk to them about it, especially since you're probably a ways away from it being a realistic move. I assume you're not at a multi-manager currently? Most of the younger people I know in those roles are ~30's with 6+ years as an analyst under their belts, came up within a platform and were "sponsored" by a PM they worked for, or were so obviously talented that the platforms came to them.

There have been many great comebacks throughout history. Jesus was dead but then came back as an all-powerful God-Zombie.

Nov 30,2016