Joining A Startup Hedge Fund
What are people's thoughts about leaving an established "brand name"join startup hedge funds ($500mm - $1bn AUM launch so not a tiny startup). I understand that there's much more risk, but frankly, there are large hedge funds that seem risky and prone to shutting down as well. I'm in the credit space so thinking about York and CQS etc. in particular regarding their HF strategies. Has anyone made the jump to a startup hedge fund and back to an established HF if they were unhappy or the fund shuttered? How did people feel about their recruiting potential after leaving the brand name shop? The way I see potential tradeoffs, there are startups with good momentum and traction and then there are lots of big funds with poor performance over the years (like an Anchorage) that have been losing HF AUM en masse, but still have a "brand name".
Happy to hear people's thoughts on why they would/wouldn't make the jump to a startup launch, and from people who have and how it's turned out for them.