From the monthly archives:

August 2008

A slow time for hedge fund launches.

Citadel (Chicago) aims to launch a new global macro fund.
The Debt Market Opportunity Fund, investing in Australian mortgages, is run by Macquarie Funds Management.
The Global Opportunity Strategy Fund is from Advent Capital Management (London and New York).
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Base salary for this position in New York City is $110k and anticipated bonus is in the $55k to $100k range. It offers a good entry into the hedge fund industry from a brokerage background, with the possibility of a strong career progression from there. Find this and other hedge fund jobs and hedge fund recruiters.

Margin / Treasury Manager
New York, NY

Top hedge fund / private equity firm seeks Margin / Treasury Manager. Looking for 3-10 years of relevant experience in the hedge fund, prime broker or broker / dealer space, with an understanding of valuation activity related to liquidity, leverage and the validation of margin calls. Ability to look at all TRS structures and identify the points that can trigger defaults and generate better rates on borrow / debit balances and collateral management through the prime broker.

Provides excellent exposure and growth opportunities leading to a management role, greater involvement with compliance, and possible move to the risk management side.

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The range of functional roles at a hedge fund is variable across the lifespan of that fund, and also variable for different funds in the industry. Just as a new fund must often start small in terms of assets under management, typically there are few people on the initial team as well, with every partner or employee wearing multiple hats. Some funds keep it that way for their entire life span; organization at a small fund tends to be informal.

One manager of a small fund remarked to us, “I give titles because people in the outside world need them. But titles create a certain hierarchy, and while there is always one person who makes the final decision, if you treat people like we’re all equal, people appreciate it and have a vested interest. Everybody knows they have a vested interest here; that’s why they’re loyal.”

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Hedge Fund Base Pay & Bonus: 2007 vs. 2008

August 22, 2008

Hedge Fund Search Digest’s 2007 Hedge Fund Compensation Report concluded, “For hedge fund firms to attract and keep the best players, some changes need to take place. The study shows notable turnover in the smaller funds. It is well known that small funds don’t have the large management fees to support high compensation increases in [...]

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Senior Developer / Quant Hedge Fund Job in New York / Greenwich

August 20, 2008

This hedge fund job, for an immediate hire, is with a new fund with offices in Greenwich, CT and New York City. The post is a bit slim on detail (qualifications, responsibilities, trading strategies, technologies, &c) compared to other job descriptions for quant jobs. That probably means the firm is interested in talking [...]

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Hedge Fund Launches to August 15th

August 19, 2008

Intrepid managers, both veteran and green, continue to launch hedge funds despite uncertain market conditions and a challenging fund-raising environment. Here are hedge fund launches reported during the last two weeks.
Ansbacher Investment Management (New York) will launch a new strategy in equities this quarter.
James Pallotta will leave Tudor Investment Corp. to found [...]

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Hedge Fund Job Interview Question: The King’s Conundrum

August 15, 2008

It would be a royal pain not to know the answer to this puzzler in a job interview!
Question:
This is an absolute classic. A king demands a tax of 1,000 gold sovereigns from each of 10 regions of his nation. The tax collectors for each region bring him the requested bag of gold [...]

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