Q&A: M&A Analyst Turned HF MO Operations Manager -- Ask Me Anything
WSO Monkeys.
Intro on my background:
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Non-target school, Finance major 3.6 GPA.
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Interned at Wealth Management/Insurance Shop (hated it)
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Interned at Family Office PE shop specializing in Dental M&A Rollup model (Buy-Side Stage)
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Interned at PE/Corporate Dev M&A Buy Side in Services/Document Processing Industry, sourced transactions all summer, closed on a 3MM biz. I was the lead transaction sourcer -- worked directly with MD.
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FT Tech M&A Fin Analyst at Boutique Advisory shop LMM. Covered 10 to 15 deals on a rolling basis. Left after a year, right before bonus season, didn't care I wanted out.
Present: I was hired 6 months ago as the Operations Manager at a boutique HF that specializes in direct investment in public companies. We trade PIPE's, SPACs, IPO's and other secondary offerings. Convertible notes or private debt placements. Other unique structures not commonly known.
The HF is technically Family Office funded, no outside capital. Ultra lean team, just myself and a COO for Ops. Constant exposure from transaction sourcing, negotiating, docs, to funding and managing positions. We sit within a larger ecosystem a few Bn AUM but operate independently.
Ask me anything?
What's the hardest part in networking & transitioning to HF?
Based on my previous experience, there are many people who will be willing to chat with you about the industry, but very few people who are willing to take a risk on you as a prospect. Best to network with as many people in the industry as possible, just to gain exposure -- learn the strategies and lingo. Eventually, you will find an opening or an MD willing to take a risk on you.
If you're sourcing transactions and managing positions why do you consider it a "Middle Office" role?
I mentioned exposure to transaction sourcing, it's not my primary role. I am the Operations Manager of the Fund. Position monitoring is an essential part of my role. We all work on the "trading floor" together, most of the conversations happen in the open and phone calls are taken on speakerphone.
I just found this Q&A, so shot in the dark. Where do you see yourself headed in your next role?
Either moving up through the ranks as the head of operations at the fund or eventually moving over to a junior portfolio manager role.
Is BO/MO at HF the same as IB!
If yes, please tell me what the day-to-day responsibilities of a BO/MO are!
I am a junior at USF whose majoring in Finance with a concentration in Investment Analysis. I am an investment associate at the USF student investment club.
I talked to a person at GS; she told me that My interests are the best fit for BO/MO. She told me to research “the operation division and the skills I need and the team that I will work for.”
I know operation division is a core that makes the transaction run smoothly. But I am really want to know and understand this decision, the skills I need ( excel, alteryx, canvas), and each team's functions within this division.
I would love to hear from you!
Thank you!
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