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Event-driven Arbitrage Will Need To Staff Up

Hedge funds that include merger arbitrage in their portfolios are hiring sparsely. That's in spite of predictions that the deal landscape will soon get busier than it's been in the last three years. But at least one New York risk arb says that should change.

And, if you're hoping to land an analyst or portfolio management job in the hedge fund space, you'll need to polish your networking skills - a lot. Most openings become known via word of mouth.

"In the event-driven area, there have been a number of hirings," says the New York arb. But, in spite of "the attention in the press (about M&A heating up), there have very been few."

He sees Quattro Global Capital and Moore Capital as exceptions. And, indeed, another arb confirmed he was recently hired by Quattro (with $250 million under management), though he declined to reveal his name or provide a comment.

New York-based Moore couldn't be reached for comment.

Of the current event-driven hiring scene, the arb says "there's a real lag." Even later this quarter, he thinks funds will have to scramble to attract and hire enough help.

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AUTHORJudy Radler Cohen Insider Comment

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