Multi-Manager HF Interview with Biz Dev
Hi all - I’m not at a platform MM shop but I have been approached by several MM’s to have opportunistic discussions for roles that they have (seems like P72, Citadel, Millenium always hiring for new pods/PMs). I responded to 2 and the first “round” always consisted of a meeting with a non-investment professional. HR or a Biz Dev person and they basically just asked about my investment process. It was pretty much the same questions for each interview so I assume that all the MM processes start with this?
Anyways I haven’t heard back from them and so I figured my investment process answer wasn’t good enough or something - so I’m wondering how people at MM pods typically answer that question.
For context, I just listed out steps I take when looking at a new name and reading up on it & how it makes money, 10-K,Qs, IPs, sellside research, building model, projections, upside/downside, GLG calls, management access if I can etc.
Were you being interviewed for PM or analyst ? If PM, those things take a while to materialize especially if you are making jump from analyst-> PM. If you were applying for an analyst role, you should hear back pretty quickly if the PM that's hiring is interested (based on the interview notes HR collected). This process ( of talking to biz dev first) is the norm at platforms.
They were for Analyst positions so I'm assuming HR was not impressed? Is there a particular right way to answer these questions regarding your typical investment process? I'm not sure if the Multi Managers are looking for any skill or process in particular when looking at an investment.
Could also have been a fishing attempt.
We didn't talk about investment ideas or specific names (this was with the biz dev / non-investment people). It was just generic "what is your process?"
Following
How did those biz dev people find you? Did a recruiter submit you or they just msged you on Linkedin out of nowhere?
They are always hiring "opportunistically" as the other person asked is the process being handled by a HH? Typically HH does a large screen finds the talent they want then the "internal screen" is done by the HR/Biz Dev person. The internal screen is to focus on if you have the skills they think is missing and also to fish for information somewhat at times to see how others are doing on the street etc. Could be you cover/skills they already have in those teams if a HH did not contact you directly would say you reach out to one and see if they can get info back from on the street.
curious, why can't I DM a PM or Biz Dev guy instead of going through a HH?
Just sometimes a HH can see how you are being represented out there. XYZ is looking to move for these reasons, or only covers this sector, or only does this. For sure a nice, direct friendly PM will give you more relevant info than anyone but you need to find one.
Yeah I was directly contacted by the Biz Dev folks at Millennium and other to have a conversation about analyst seats in their pods. And then nothing came of it after the "interview"/initial call with the Biz Dev person..
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