Ares Special Opportunities Fund - London
Hey guys,
Anyone has any insides on the ASOF? I got told returns are really good, around 46% even though target is 15%.
How is the comp and culture?
Thanks
Trending Content
| +51 | Do you regret going into public markets investing? | 27 | 5s | |
| +46 | Alta Fox - How did Connor Haley do it? | 24 | 21h | |
| +36 | RIP Jim Simons | 27 | 2d | |
| +23 | Advice ahead of a pair trade presentation - HF interview | 7 | 2s | |
| +23 | Is Quasi-MNPI The Ultimate Alpha Generator For Public Equities? | 8 | 18h | |
| +22 | Point 72 let go of seven long-short managers !! | 26 | 5h | |
| +18 | UPenn SEAS vs Cornell Engineering | 8 | 4d | |
| +17 | SM Career Trajectory | 5 | 5d | |
| +16 | PMs: move across platforms, latest terms | 15 | 4d | |
| +15 | Why are so many people here interested in Biotech? | 12 | 1h |
Career Resources
Up
Returns are abnormally high as raised during COVID, so didn't have existing exposure so were able to opportunistically deploy the fund at a depressed moment and then rode the technical beta train. Head is sharp/good sourcer, but it's a vanilla strategy.
I’m curious by what you mean with vanilla strategy?
Apollo Hybrid Value 2.0
As in tough culture? Or similar strategy?
as in boring strategy
I think the returns you are referencing might have been early days during COVID with a few catalysts playing out quickly... but one of the posters above is right in saying they were very opportunistic and bold during / towards the end of the initial COVID dislocation which was obviously a good time to go really long the market with no negative offset from existing exposure. That being said, I am certain that first fund will NOT post a 46% annualised return when all is said and done and it is a relatively standard special sits strategy (nothing bad about that, there's just not that much scope to do something unique in a saturated / efficient market with lots of capital chasing a relatively small opportunity set).
One thing to think carefully about is the dynamic of working for a U.S. based firm as part of a small team in London, with all of the key decision-makers and head of team based in LA (there are a few firms that do NYC + London, but LA + London is a meaningful difference in terms of logistics, cultural differences, general proximity and understanding of dynamics in Europe). The head of the team in London is well regarded in Europe and from my understanding a good guy, but the guys calling the shots are all in LA and I would diligence carefully how active they have been in London over the past year.
Comp will be aligned with market and competitive, culture is ok in London as far as I know but can be intense.
Can you elaborate on the dynamic of having a US-based IC?
Thank you
Up
Anyone an idea on comp and culture in London specifically?
Comp is good, Ares in general pays above street. Team is 5 people, so culture is a hit or miss
Gotcha
How does the carry work in there? I understand you start getting it at VP level, but is it on a cash basis (i.e HF style) or you get it post-close of the fund (i.e PE style)?
PE style, though would expect payments sooner than typical PE funds given there are coupons and maturity dates for a lot of their investments.
Haha I see your name popping up quite often on ASOF. I signed one of the two spots. Are you the other candidate?
Maxime consequatur suscipit voluptatem quae. Fugiat incidunt voluptas omnis. Quia unde sequi magni sed eum quod et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...