The Boom Multistrategy Mints New Hedge Fund Consultants and Podcasters

• New consultants and podcasts have been launched to help people understand how the biggest hedge funds work.
• Brett Caughran, Marc Greenberg and Doug Garber spent time investing or managing the PMS.
• Their new businesses aim to demystify the space of hedge funds, which constantly needs talent.

The fundraising of the greatest hedge funds of the industry – names like Citadel, Millennium and Point72 – perhaps do not want to hear this, but what these managers do is not the magic or the science of rockets.

The work that these funds make, in particular individual portfolio managers and their analysts, is something that many could do. Or at least, it is the belief of Marc Greenberg, the former research director at Steve Cohen’s Point72.

Greenberg has launched a consulting company called Greeper Pastures which works with smaller funds on the development of talents and their research process and also writes a substitution that covers “Block-and-Concours type” type stuff to invest in a Multistragic hedge fund.

It is a “false notion” according to which “there is this secret sauce that occurs in the funds,” he said, saying that the “tradition” of the founders can ensure that these companies seem “magic “From the outside.

The reality, he said, is that the PMS “works very hard and knows their companies very well”. His writing concerns the preparation of profits, how to use data, how to manage risks and how to carry out basic research – and the success of these managers is motivated by “men and women in seats”.

Greenberg is part of a group of former investors and managers of these multi-back funds who try to make industry more accessible to those who do not know the interior functioning of a millennium or a citadel.

Brett Cauughran, a former portfolio manager for Schonfeld, Citadel and Shaw, founded a training academy, fundamental Edge, in 2022 with the explicit purpose of training young people in finance for jobs in multi-strategies funds. Doug Garber, former analyst at Citadel and portfolio director at Millennium, launched a podcast entitled “Pitch the PM” where he reviews the equity fields in the same way that he would do so if he was still invested for Founders of hedge funds Ken Griffin or Izzy Englander.

While the hedgerow fund industry has matured and more capital has concentrated among the largest players, there is an increasing demand for talent for everything to work.

The lack of talents led to wars that compete with a free agency in the main sports leagues, such as the Goldman Sachs brokerage office notes in a recent report according to which the costs of transmission, which cover expenses like causing large Recruits were 4% of assets in 2024 – a jump of 3.3% the previous year. With a recent obligation offering the prospectus, Citadel notes that investors paid $ 17 billion in transmission costs from 2021 to mid-201.

Cohen, the owner of New York Mets of Major League Baseball, dealt with both, extending the biggest agreement in the history of sport to the airwater juan Soto and a guarantee of $ 50 million to attract the Prime Minister of Marshall Wace Kevin Liu to point72.

But it is not only a shortage of high -level talents. These funds need more young analysts to support their rows of PMS constantly increasing. What the new breed of consultants, writers and podcasters are doing what is to put the brands of the greatest funds on the radar of intelligent young people by considering their next movement – and by bringing life to these funds.

“There is certainly a request for that,” said Garber, and he supervises young investors at university and leaves the graduate programs now. This next generation is impatient to work for some of the biggest names in the industry, he said, but “they do not know the long process”.

“The students I talk to, they want Citadel or Point72,” he said.

750 students and count

Admittedly, it is not uncommon for people to leave hedge funds – which often recruit ambitious and entrepreneurial types – and to start their own business, even if this startup is not another placement manager. The former research chief Point72, Kirk McKeown, co-founded the Carbon Arc data startup in 2021. Tripp Kyle, leader of Citadel and Millennium Comms, and the former spokesperson for the AQR, Claudia Gray, established A partnership to start their external agency, Northport Partners, in 2023. Claire Jolly, began the Beaufort consulting strategy last year.

But these companies and many of those who preceded them focus on the function of the needs of those who are already in the industry, do not seek to bring a world separate from people to the hedge funds. Greenberg, Cauughran and Garber are in a way, in a way, to speak to the youngest in the talent basin and increase the recognition of the brand’s largest managers.

This is another example of the institutionalization of the hedge fund industry, which grew up to the point where the biggest managers recruit directly from undergraduate programs instead of poaching the talents of investment banks or Investment capital. Point72, Citadel, Shaw and others have built competitive and well -paid internship programs. Millennium and UBS have a partnership in which a new graduate for the Hedge Fund would spend a year in the Research Service on the actions of the Bank as an externalized training year.

Internal training programs are always work in progress for many funds and talented young people can be washed quickly, said Cauughran.

“Historically, many funds expected that young talents learn from osmosis,” he said, and it was a struggle for him personally when he came to the purchase, although ‘He began his investment career at the Tiger Cub Hedge Fund Maverick Capital, not a multi-still fund. Fundamental Edge has already had 750 students to take his various training courses and have other full -time instructors with a purchasing experience on everything, from the preparation of income to understanding and risks.

He also exposes what life is like in these companies, which are often faster than managers or banks that his students generally work.

“If you have a career choice to go to one of these places, you should go into your eyes wide open to compromises and benefits,” he said.

Companies, in general, have also become more transparent, in part to attract more people in their managers and improve their brand recognition. Cohen talked about investment and career growth on a podcast managed by the company. Griffin recently met students from the University of Cambridge and gave advice on what they should do after graduation.

The advent of substitutes like Greenberg and podcasts as the mere awareness of Garber to these companies and that they are from the point of view of an initiate.

“These are the conversations I have with my former colleagues from my work at Citadel, in Millennium,” said Garber.