The Not-So-Much War

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Hedge funds and private-equity funds face tug-of-war over talent [Business Insider]

This blurb is from a BI daily round-up piece – if you’re a BI subscriber (LOL) you can access the full bit from the link.

The long and short of it is this: calling the fight between PE/VC and Hedge Funds over talent in 2019 a ‘tug-of-war’ is like calling the USWNT group stage match against Thailand last week riveting sports entertainment. I’ve been asked for advice from a lot of soon-to-be-alumni from my own alma mater over the last few years. I’ve done quite a few interviews of prospective students, too. It has been years – legitimately years – since I’ve heard the words “banking” or “hedge fund” in any of those conversations.

Public markets active management professionals are fighting a valiant rearguard action in narrative space (as they are in AUM space), but it’s a sure loser; that is, until the next liquidity crunch coincides with actual marks-to-market that remind us all what some of those ’06 vintage buyout or early 2000s VC funds looked and felt like.

I wouldn’t hold my breath. We’ll get our adversely selected candidate pools and like it.

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