Small HF Recruiting

I applied to a very small fund (~100m AUM) and their founder/principal emailed me asking about a general capability, and I responded with my experience in the area friday morning. He hasn't gotten back to me yet so I'm wondering if I should follow-up sometime this week or just wait because he probably has more important things at the moment. Thanks

Comments (17)

 
Feb 15, 2021 - 1:13pm

Wait, but should follow up.

Yes, founders always have something more important to do. 

Follow me on Instagram: @dickthesellsider

 
  • Intern in PE - Other
Feb 15, 2021 - 1:29pm

Thanks, that's what I was leaning towards due to the importance aspect. Wondering how long I should wait until follow-up, I figure since it's a small place and don't have to go through traditional HR channels that early could be a good option. Thoughts?

 
  • Associate 2 in PE - Other
Feb 16, 2021 - 9:58am

Agree with MMPM. If you're writing verbatim from him, "general capability" means send me a pitch to see if you have the basics, not general availability for a call. Would send him a pitch and highly suggest attaching a pitch to future out bounds to funds. 

 
  • Intern in PE - Other
Feb 16, 2021 - 10:23am

For sure, he was broadly asking if I could analyze things in a certain way, and I responded with my experience doing it. I've had a pitch in the works and wondering how technical I should get. The fund is involved in some niche/technical markets, but I'm putting together a pretty concise 1-page thesis to hit the basics like you said. I wasn't planning on sending a full working model due to the ask, but I am going to include some fundamental calculations on the summary. General cap structure summary, competitive advantages, industry highlights, a couple comps, etc. will be included. It's my first time doing this, so I'm trying to make sure I don't get too carried away in the weeds but can demonstrate I have the fundamentals. Thoughts?

 
Feb 16, 2021 - 4:28pm

If I were the hiring PM, what I'm looking to confirm is precisely that the candidate can get in the weeds. Anyone can talk high-level BS, but why not make this an opportunity to prove you can do deep-dive analysis? You can of course post a short summary followed by all the detail in an appendix.

 
  • Intern in PE - Other
Feb 26, 2021 - 7:45pm

UPDATE: I turned in my report and model on monday. Got a call about an hour afterwards from the one that originally contacted me and he asked me some general questions and chopped it up (told me some stories, his background, etc.). He said he'd have his analyst look at my model and then get back to me. Curious to how long that usually takes? 

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