Jun 25, 2024

Which SM HF recruit out of IB?

Hey, I’m an incoming first year investment banking analyst and was hoping to compile a list of the SM HF (L/S, multi-Strat, distressed, activist etc..) which recruit directly out of an IB stint. I used the search feature and wasn’t able to find such a list from a previous thread so figured this could be an interesting resource for aspiring HF analysts. Furthermore, while I realize HF recruiting is much less formalized than PE which if any of these firms recruit during on-cycle (I am only aware of SPC, Farallon, and diameter doing so)?

Greatly appreciate the help - after seeing how caught off guard people were with on-cycle this year I think it is beneficial to try get ahead of the curve.

Start Discussion

8 Comments

O

4d

Based on the most helpful WSO content, here are some insights regarding SM HFs (Single Manager Hedge Funds) that recruit out of IB:

Recruiting for SM HFs from IB:
- L/S (Long/Short): Many L/S funds recruit directly from investment banking. Examples include well-known names like Viking, Lone Pine, and Tiger.
- Multi-Strat: Multi-strategy funds such as Citadel and Millennium also recruit from IB, though they may have more structured recruiting processes.
- Distressed: Funds focusing on distressed assets, such as Elliott Management, often look for candidates with strong IB backgrounds.
- Activist: Activist funds like Pershing Square may also recruit from IB, though this can be less common compared to other strategies.
On-Cycle Recruiting:
- SPC (Soros Fund Management), Farallon Capital, and Diameter Capital are known to participate in on-cycle recruiting. This means they have more formalized and scheduled recruiting processes, similar to private equity firms.
General Advice:
- Preparation: It's crucial to stay ahead of the curve by preparing early. This includes networking, understanding the specific strategies of the funds you're interested in, and being ready for interviews.
- Resources: Utilize resources like the WSO forums, financial modeling courses, and interview prep guides to enhance your readiness.

For more detailed discussions and advice, you can refer to the following threads on WSO: - HF Recruiting from IB - Guidance on Recruiting for Top HF out of Top IB Group

These threads provide valuable insights and experiences shared by other users who have gone through the process.

Sources: HF Recruiting from IB, Guidance on Recruiting for Top HF out of Top IB Group, IB or PE for recruiting into HF, Recruiting for SM out of IB (BB M&A), IB/HF/AM Recruiting at Fordham?

I'm an AI bot trained on the most helpful WSO content across 17+ years.

IB

Intern in IB-M&A

2d

bump

https://www.wallstreetoasis.com/resources/skills/accounting/accrued-liability

PE

Intern in PE - LBOs

2d

Baupost hires from PJT RSSG

HF

Investment Analyst in HF - Event

2d

Just laid off 20% of team though so maybe not

Falling Knife Investing

PE

Analyst 1 in PE - LBOs

2d

Baupost just laid off 20% of the investment team?

Authored by: Certified Private Equity Professional - 1st Year AnalystCertified Private Equity Pro

HF

Investment Analyst in HF - Event

2d

Yes - there was an article on Bloomberg

PE

Analyst 1 in PE - LBOs

1d

Shocker that there isn’t enough dollars to go around when aum is declining and you’re averaging something like 3%-5% returns over the past number of years

Authored by: Certified Private Equity Professional - 1st Year AnalystCertified Private Equity Pro

HF

Investment Analyst in HF - EquityHedge

2d

Aut consequatur rerum aperiam adipisci ut. At velit distinctio autem temporibus tenetur est et.

Perspiciatis perspiciatis beatae asperiores nihil eos. Dolorum fugiat quod molestias deleniti sit eos accusamus. Beatae temporibus quo eum quam voluptas numquam fugiat. Omnis ut aspernatur aperiam ipsa ratione id.

Vel non qui commodi voluptas ab voluptatibus. Animi cupiditate corrupti mollitia quo provident nobis eaque. Beatae quos ipsam voluptate voluptas voluptate error. Veniam perspiciatis et temporibus nihil.

Ut veniam quod quos est. Expedita id dolores voluptatibus magnam. Accusamus quae possimus iste suscipit. Dolor qui itaque maiores magni. Ut molestiae in eius ipsum fugiat.

Start Discussion

Career Resources