LA Hedge Fund Scene
Looking for some info about the HF space in LA. Seen a lot of info about PE in the city, but not so much about hedge funds. Looking mainly for the usual comp/hours/culture etc.
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Good scene. Canyon is cool too
Not nearly as big as SF. PIMCO is based in LA I think, and TGS as well.
PIMCO is a bit outside LA (in Newport Beach) but it's a really nice area. Very rich haha
The HF space in LA relative to other cities is like any other part of finance. Sizable but definitely is no SF / NY (or even Boston). But - it's a good place to be still and likely the 5th biggest imo after NY, SF, Boston and Chicago
Its a good place to be for all kinds of reasons, but I would also put it below South Florida. Lots of funds with a presence there like Appaloosa, Balyasny, Bluecrest, Verition, Elliott, ExodusPoint.
Debatably it's also below Dallas, which has Maverick, HBK, Carlson.
Why ms this? I agree with it
Does Appaloosa have actual investment folks down in Florida? All the guys I've met are still in Short Hills. Ditto with Elliott and NYC.
This might be obvious, but it is probably worth saying just so it is not ignored, but working at a HF on West Coast comes with a very different set of hours as you are fairly tied to NY Market Hours. I don't have a ton of contacts in SF / LA at HFs, but those who do work in more market-oriented seats at HFs tend to work more like 6am - 2pm with free afternoons and then tend to go to sleep on the earlier side given the early morning hours. That can be a bit of a trying situation if wife / SO also works long hours (she gets home at 7-8 pm / you're trying to go to sleep by 10pm) and even tougher if you are single and trying to date.
NYC area also has a good scene
A lot of debt shops because of Milken bois. Equity not as much.
Decent institutional scene: Capital Group, Kayne Anderson, TCW, Oaktree, DoubleLine, PIMCO, Hotchkiss & Wiley, NWQ, Payden & Rygel, Causeway, Aristotle, etc.
Anyone have deeper insight into Canyon? I know it’s got a great rep / it’s top tier but I never hear any specifics relative to plenty of other funds
Good place
Thanks User836
Bro, what are you trying to do tho? Like you trying to go distressed? CLOs?
Not really sure if this top tier thing works, like asking someone to rank PIMCO vs Pershing Square vs Aurelius.
I may have been unclear. I’m basically saying I know they have an excellent reputation, but have never really heard anything about their culture, work-life, internal retention/promotion track, turnover rate, comp/perks, what the people are like. etc.
I definitely don’t care to turn it into another ranking thread. I’ve just heard plenty of those types of things answered (from friends or on WSO) about places like Elliott, Tiger Global, Viking, Oaktree, etc.
As for me personally, I don’t know yet. I’m at an EB now and am still figuring what type of exit to target
I worked with a group at Moelis that had sent a couple of former analyst/associates there. One is still there for like 5 years now. The other was there for a few years and I think slid over to tpg or sixth street for whatever reason. Def think it’s a good place to work but obv depends on fit and that stuff and whether they are even hiring
I think Beach Point might also be in LA. Not sure. Also sounds like a good firm
The La hedge fund scene may be centered around the same area where the other financial firms are. It might be wilshire boulevard
Thanks, this is all very helpful. It’s probably because I’m in NY but is so much easier to connect with a friend or friend of friend who works at all those other funds, but I’ve just never talked to someone first hand who worked there, so it’s hard to get a read for this stuff. Did have a friend intern there through friends / family hookup but those aren’t “real” internships exactly so the insight only goes so far
Have you tried getting in touch with anyone there?
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