Goldman Sachs Multi-Strategy Investing Group
Hey,
Does anyone have any info on Goldman’s MSI group that sits within their SSG. Seems that tiny number of analysts who have ever joined the group out of undergrad have placed into elite HF’s more times per capita than their counterparts in Classic IBD (including FIG and TMT) who place better into large-cap PE. As someone interested in joining a HF (and skipping PE directly) should I try lateraling to MSI or stay at GS Classic (TMT/FIG) since those IBD groups are more established?
Does GS FIG or TMT place directly into hedge funds at all? Seems like more PE but not sure if that’s self-selective or not.
Is the group perceived in higher / lower regard than GS FIG/TMT by HH’s and elite hedge funds?
Hi Prospect in IB - Gen, check out these threads:
More suggestions...
You're welcome.
Semi- related question on PFI (Principal Funding & Investment), another group in Merchant Banking. There's some articles on how PFI was involved in the 1MDB deals, taking down the full issue and quickly selling it off to investors in South Korea, Philippines and China that they'd already lined up.
Anyone know who these investors that ended up with this paper were? How did these guys goldman lined up not do the diligence?
PFI is the shadiest group at GS, not even close - I think they had to rename it after 1MDB
this question is answered in another thread with the exact same premise.
re:PFI , it’s a good group but more geared toward esoteric credit structuring opps. still good hedge fund exits but no equity ones
MSI operates essentially as an internal hedge fund on the SSG platform. The only difference between this group and an independent HF, is that MSI has (until very recently) invested bank balance sheet capital versus institutional LP capital. The MSI team itself is relatively small and runs a ~$2B pool of capital ~70/30 split between credit/equity with an outsized allocation to distressed. They're a relatively minor distressed player (just by virtue of their capital size), but are generally well-regarded.
Eh not that hot in the distressed space especially after Oneglia left. They're good shop out of undergrad or for people who want to stick a "brand name" to their job but better to go with a firm that doesn't often get tied up in HUGE compliance and institutional roadblocks to getting deals done / investments through committee.
Agree with this 100% - Partly why myself and a ton of other people leave SSG after a couple years (particularly now that the MBD shenanigans have happened) - just too much red tap sitting within a BB to really focus on pure investing opportunities.
Can you provide some color on MSI / SSG in terms of exit opps if you join as an analyst vs. associate. Curious about the comps too, not much info out there. Thanks!
well SSG is buyside so as an associate you don't lose much optionality. I guess analysts probably have a better shot of moving to a hedge fund. Associates i'm sure used to be able to because SSG was a public and private investing book but now that its all private, I think it's probably a bit tougher. Still can easily exit to other special sits lending platforms I'm sure.
They actually still do both public and private, and do have a big pocket for public wherever there's opportunity / value. I've seen people in SSG alternative energy financing, not even MSI, which I believe is completely private, exiting to some top notch distressed HF.
Have you personally worked there? Curious how the experience was.
Yeah idk where this massive Public pocket of capital is....I left MSI after 3 years this January so I feel like I would’ve/should’ve known. Not trying to be facetious, but if you do actually know which pockets of public capital they have then please tell me. PCI never had any, MSI we did most of the public distressed & special site, Alternative Energy and Real Assets wasn’t a ton of public to begin with. So I’m a little confused where you’re coming from. I left MSI, along with a bunch of my colleague, for this very reason that MSI stopped doing public’s going forward.
Alternative energy is fine yeah 100% but not as flexible experience as MSI. Only one guy I talk to consistently now who used to be on that team is now at Redwood which is legit.
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