Start up hedge fund or good long only?
Currently I'm a junior analyst a L/S hedge fund in the states but plan to move to Asia due to family reasons. Now I got 2 offers:1) A start-up, launch with 150mm AUM. The fund is a subsidiary of a top tier fund and majority of the AUM is seeded by the parent fund. PM does not have a relevant track record as he will be operating a new strategy, but he was good with his previous strategy. PM responsibility is up to the fund's growth and my performance.2) A prestigious local Long only fund, the team manages 12B. Track record has been good. Clear path to PM.Pay wise, the start up HF pays higher base salary. The LO has historically pays 1x base salary (or can be as high as 2x in 2020) as bonus thanks to its large AUM. So total comp can be higher if the HF does not perform well. But if the HF fund ramps up, there should be much bigger upside.UPDATE: HF guided parent fund to pay bonus part as long as the performance is above market so total comp in HF is 30%-50% higher. Reputation wise, the parent company of the start up fund is better than the long only fund. So even if the fund fails, probably it won't be too difficult to jump to another HF. Which offer should I pick? Not sure if I should bet on the start up HF. Any advise will be highly appreciated! Thx everyone in advance.