L/S Investing in Companies Pre/Post-IPO

Alot of funds have been investing through a fundamental L/S approach in companies Pre/Post-IPO and a buddy of mine will be meeting with a fund that takes this approach. For instance, I know Tiger Global, DE Shaw, Citadel, Lone Pine all have investment strategies like this

Does anyone have any info on this investment strategy, the long term prospects of being in a group that just does this (seems limiting, given IPO market is not always "hot"), and if the investment process is equally as valuable as a sector coverage L/S analyst. There is also a high possibility that he will have to move overseas to London to work in that office "within" a year for the foreseeable future. Any downside to this as well (given the role and the volatility of the IPO market)

Please advise?