London Value / Deep Value Hedge Funds
I'm a top bucket IBD analyst at a top BB in London looking to transition to a HF later in my stint.
I'm quite interested in public equities investing, and in particular the value / deep value approach (e.g. early day Graham, or in current times people like Tobias Carlisle).
What are some of the best funds (for performance, comp, culture, etc.) in this space in London?
I've heard many good things about Pelham Capital Management, for example, but information about HF is so much more scarce than what is available to those who want to go into PE.
Thank you.
Bump
Sorry to break it to you, but for the last decade or so, "value" and "performance" don't really mix together.
Can’t confirm, performing funds just stay in their niche, know two German value funds with annualized returns over 15% since 05’
What's their name?
You don't say, there's exceptions to the rule?
Anyone have insights in how HF recruiting works in London? Not sure if I should be actively reaching out to head hunters, how many YOE people typically have before making the jump, etc. Any insights would be much appreciated!
following
HF recruiting in London is haphazard and the large AUM SM funds rarely have openings (if any). It’s pretty much up to luck if you happen to be looking to leave + they happen to be looking for someone with your background/years of experience. Competition obviously fierce as everyone wants to work at these funds. Speak to headhunters but don’t be surprised if all they have are roles for Millennium.
Would be interested to know if anyone else had any other views.
What are the best large AUM SM equity funds in Europe?
Most funds will recruit through recommendations from friends/sell-side/prime brokerage consultancy teams. I do not see many single managers in London using headhunters. It is just a cost you do not need to pay and you can pay the person you are hiring more by not having to pay their fee.
Most headhunters will be recruiting for the market neutral platforms and that is a very different job to single manager long short equity.
Some of the big LO in London are also home to some of the largest hedge funds. Blackrock has multiple UK and EU HF in UCITS and Cayman funds - just look at the sheer size and scale of its EU equity team. Jupiter, Henderson, Lazard, Carmignac and many others also have equity long short vehicles. The pay at many of these places can often be better (and less volatile) than the single managers.
Interested.
Not a “HF” but Oldfield Partners
Bump.
BUMP
BUMP
Is AKO a good fund? How does it rank amongst the other top funds (for example, TCI)?
My brother in christ Pelham is down 50% and they had to shut down the Pelham Global Financials fund because it was down like 70% lmfao
My brother in value
I talked to >50 HHs in London over the past 12 months. Max 5 were professional, knowing what they were offering, understanding my role and posing the right questions.
The others were mostly HHs with no relationships trying to get my data without having anything to offer (and never called back). Most of those conversations were with people with very little understanding of the differences between strategies. Once I had to explain to a (very junior) HH what short selling was - and it wasn't an interview question if you were wondering.
Several HHs were just pushing MM roles I could have applied for by myself.
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