Elliott in London?
I know that they’re typically split between equity activism, distressed, macro and everything else they do, but not sure if/ how this applies to London. Annecodtally I understood that in the London office (still headed by Gordon Singer I think) you can do almost anything as long as it makes money (obviously an oversimplification), but I’d love to hear thoughts from people who’ve interacted with them particularly on the equity activism or distressed side.
It’s a given recruiting is pretty much nigh-impossible but still: process, culture, hours, approach to either activism or distressed? Any color is much appreciated.
Thanks!
Associate 3 in PE - LBOs, have you checked out these or run a search:
More suggestions...
You're welcome.
Bump
I know they look at NatRes projects in Africa/Central Asia, potentially more on the debt side. Interesting dynamics since they're in the same building as Renaissance Capital, a big Russian investment bank specialized in DCM in emerging markets.
Leveraging the experience of toppling governments in young fresh democracies? Good for them! Joking aside, there's very little info about their European activities outside AC Milan and perhaps 1-2 activist campaigns. What I'm wondering is whether they actually have a distressed team here considering their $AUM and the relatively small volume and number of defaults in Europe... My bet is they don't and should a Caesars/ PG&E level bankruptcy happen on the old continent, they'd leverage the US team + an army of lawyers from that particular jurisdiction
In all fairness most bond OMs in Europe are in NY law, but having people that understand the European ecosystem is quite important - bankruptcy processes in Europe are not as easy as in the US (governments, unions have a say and it can easily be a shitshow).
I know of at least 3-4 public activist campains that they are publicly on-going(after trying to run it privately to management), these are very sizable with stakes above 1bn in pretty much all cases. They probably have 5-10bn of capital deployed in Europe - which is often the split for US funds (20% Europe, 0-20% RoW, and the rest in the US).
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Standard path to get in is GS, KKR / Bx then you go to Elliott.
They ran the Alexion campaign and are now in GSK and Clinigen.
Speak to Hinton Rose if you're interested - they placed a guy there a while ago. They asked me if I was interested and I told them my profile isn't GS -> KKR / Bx so why bother (still in banking)
I agree that's the route with the highest conversion rate, so to speak. That said (looking on linkedin at least) there seem to be some outliers, coming from MM PE for instance. Would be interesting to see the process at least, worst case they'd only say no!
Guy that runs the London office is ex apax, so you just conceded for no reason
I seen a guy from the big4 land a role at Elliott on LinkedIn.
Why would Elliott want a guy from the big4 instead of a top analyst or associate from GS/BX/KKR?
EDIT: big4 accounting firm
Connections, ability, luck, right place right time etc.
Big 4 pod shop or Deloitte ey etc?
Ey, kpmg, pwc, deloitte
What does their job description say? Know they were looking for a research analyst from consulting background so could be that (not an investing seat).
Their role is a portfolio manager.
Was their immediately preceding job big 4 accounting or did they work at a big 4 at some point in their career? Also did they just start as a PM at Elliott or have they been there a while? Most recent PM hire I can think of there in London was an MD at Centerbridge . . .
Left their big4 role in 2017 and joined Elliott straight after
As far as I know, Elliott casts a really wide net in London, with people with all sorts of backgrounds/fund/pedigree.
Could you give more insight into the variance? Interesting to see
Elliott HH'S have hit up a few evr guys in the past with no investing experience yet afaik, probably true for some other banks
Anything opportunistic-credit funds (4 recent hires), LOs (recent hire), banks, ACA-qualified professionals, consultants etc.
Pay is $400k - $500k (usually) / $700k was the highest offer given for an "analyst" (the most junior role)
That is insane lol, assuming this is potentially just 2 years out of IB too. What allows a candidate to negotiate as high as $700k though?
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