When does hedge fund analyst recruiting start? Similar process to PE?
Just out of curiosity, how does the hedge fund recruiting process work? I'm specifically referring to l/s equity funds like any of the tiger cubs/Third Point/pershing/etc. It's obvious from the PE forum that top megafund and MM PE firms have started the IB recruiting process already. Are l/s hedge funds recruiting at the same time? I know they wont need people every year since they are smaller shops but I'm also wondering how they avoid loosing all the best talent to PE if they don't get into the recruiting game early.
Other posts here as well as the guys I interact with at different funds imply that most funds hire when a position opens up, meaning there's no set recruiting season or schedule. Also many funds constantly shop around to test the talent pool and learn about potentially promising individuals. I'm sure headhunters play a large role in this but when I have the experience to make the move over I'm going to bank on being referred by someone internally.
Note: I'm SS tech ER, so I have a lot of conversations with L/S tech hedge fund guys.
Great insight, thanks.
I figured their recruiting cycle is based off of a "need" basis, but if they do not recruit at the same time as PE firms how do they avoid loosing all the best talent? Analyst's from top groups cant turn down PE offers in the hopes that a hedge fund will start recruiting later can they? I'm thinking specifically HF's with a 10B plus AUM but relatively small staff (at least compared to MF PE) like Viking Global, Pershing, Tiger Global, Third Point, Lone Pine, Maverick, etc.
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