Does BAM have a good reputation? I've read that they struggled a few years ago and had to reduce headcount. I've also noticed a lot of investment in quant recently and it seems like they're growing again. I have a quant background and always thought of BAM as a traditional LS equities shop so I'm not sure what to think of this recent expansion.
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A lot of MM equity shops have moved to more quant like Citadel
Do you consider BAM on par with Citadel?
Not even in the same ballpark. Citadel is at the mountain top.
One of my LPs works there and turned a ridiculous offer from Citadel with some pretty chunky fixed comp. He said the learning opportunities and core team he’s with are not something he feels he can get elsewhere.
what do you mean turned an offer?
he feels he can learn more at baly than at citadel?
"turned down" - did not take
It’s just another MM. If you’re not as Citadel and maybe P72, they’re all the same. Just a platform for you to trade until you blow up.
Heard quant infra is poor for what its worth
Baly was against the ropes 4-5 years ago, but somehow Dmitry rejiggered things and the fund is back on track. AuM must've doubled since then, back in the low-teens $bn.
In my opinion, it's got one of the most attractive cultures of all the MMs: less cut-throat than Citadel, and more collaborative than MLP.
what about BAM vs P72 in terms of workplace culture?
This is all bs as far as I'm concerned. Baly is just as cut-throat as the other MM platforms. They are actually worse because they pretend that their culture is really friendly and open and then when shit hits the fan they fire everyone. Would rather a firm be upfront about it
Of course they fire consistent underperformers, what do you expect? But as far as I know, there is a culture of support while not mandating a specific investment process on you the way Citadel does.
Also, it's a lot more rare to hear of someone fired after just a few months the way you hear from MLP or Citadel.
s
Less frequent to see M and C hiring from B than the other way around.
This is a good read if you're curious to learn what's been happening there the last few years. They had a great 2020, so agree with MMPM that's things seem to be back on track. (But then again, many L/S equity funds did really well last year)
https://www.institutionalinvestor.com/article/b1l9ssh8wf5v19/The-Curiou…
I saw that article, thanks.
Just today, I read that they had some problems with a fixed income team:
https://www.bloomberg.com/news/articles/2021-11-02/balyasny-bluecrest-e…
they shutter their macro/bond book every 3 yrs lol
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Management there is the most liked of the majors
People always forget that they fired 25% of their staff a couple years ago. They act very nice and friendly and preach family culture but when sh*t hits the fan they churn and burn through traders just like every other platform. Would rather management be upfront about it than promoting a fake culture.
Bump. Is a Baly offer still an instant accept? How are the exit opps to other firms? On Linkedin, only see about 20 or so people that moved from Baly to Citadel/MLP, so just want to make sure I'm not pigeonholing myself if I do.
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