Hedge Fund Pros Scramble for Family Office Jobs
The Fundfire article, “Hedge Fund Pros Scramble for Family Office Jobs,” quotes Russell Reynolds Associates Consultant Debra Brown about the recent trend of talent moving from hedge funds to family offices. The article is excerpted below.
Hedge fund industry professionals are looking in larger numbers for jobs at family offices as managers struggle with poor performance and as big name hedge funds from Eton Park Capital Management to Perry Capital bow out of the market.
But family offices are also looking in other corners for talent. "Folks in some hedge funds may find family offices an attractive destination. But I wouldn’t flip it around completely," says Deb Brown, consultant at executive search firm Russell Reynolds Associates.
With many family offices following an endowment-style approach and not trading directly, Brown has seen more interest in professionals with private equity backgrounds compared with hedge fund ones.
Speculation remains rife over whether Point72 will remain a family office come 2018 when regulatory restrictions on Cohen are set to expire.
"Point72 and Soros are more the exception than the rule when it comes to doing the direct level of trading," Brown says of family offices.
To read the full article, click here.