The 2017 trends we are seeing comes from credit funds, specifically in the direct lending space. In addition to credit, we have seen a significant uptick in recruiting at both real-estate and private-equity firms. Consistent with 2016, multi-manager, multi-strategy hedge funds are still seeking senior investment talent, including senior analysts and portfolio managers. Strategies most active at the multi-manager hedge funds include fixed income, macro, and commodities (financial, not physical).
Headcounts are continuing to grow at some of the industry’s giant, institutional-quality multimanager and multistrategy hedge funds at the same time that high profile closures like Eton Park take place and smaller funds are either absorbed or shutter, says Michael Goodman, managing partner at New York-based recruiting firm Long Ridge Partners.
Hedge funds are having a rough time. Several storied managers are posting dismal performance, while others are closing shop entirely. At the same time, the industry is known for being lucrative, turning a fortunate few into multi-millionaires – and even billionaires. Not that it’s easy to find a job. We asked a handful of hedge fund recruiters what it takes […]
Like many of her peers at Columbia Business School in New York, she sent out hundreds of résumés. She met with more than 100 people in interviews or informal coffee meetings. She was set on a career in investing and knew the hedge fund model was for her. “Getting into this industry requires some serious conviction,” she told Business Insider.
According to an article in The Wall Street Journal this week, some private-equity firms, which historically required entry-level employees to leave after their first few years to go get a MBA, are now dropping that policy. Long Ridge Partners’ Michael Goodman: “Over the past decade or 15 years it’s gone from a must-have to a nice-to-have.”
More than one-third, or 39 percent, of investment banking analysts preferred to work at a private equity firm once they leave their IB position, according to the survey by Long Ridge Partners, a New York executive search firm that mainly places executives at alternative investment firms like private equity, hedge funds and investment managers. About 37 percent of those surveyed chose hedge funds over PE firms.
A few billionaire investors have added to their fortunes with big takes in 2014, but others in the hedge fund industry aren’t likely to see a fat bonus this year, relatively speaking.
“A lot of investors romanticize that these key investment guys really are solely in charge of the whole investment decision. That was true back in the early days in the late “90s and early “00s, when the firm was synonymous with one person,” said Michael Goodman, managing partner of alternative investment specialist recruiter Long Ridge Partners Inc., New York.
While some of the trouble stems from spurts of volatility in the market this year, including October’s big swoon, larger trend seems to be afoot, says Michael Goodman, founder and managing partner of New York-based Wall Street headhunting firm Long Ridge Partners (and no relation to this article’s author).