We’re almost at the weekend.
I usually like to highlight a major story of the day, but we’ve published too much good stuff to wait. Let’s just get into it.
Recruiting on Wall Street is no joke. The competition is always ferocious, as firms want to maintain a pipeline of young talent. That goes double for alternative asset managers like hedge funds and private-equity firms.
Reed Alexander, Alex Morrell, and Casey Sullivan leaned on their sources to suss out the 12 headhunting firms that are excelling at placing talent on the buy side.
The resulting list is a great snapshot of who are the key people when it comes to staffing roles at firms like Blackstone, Apollo Global, and Citadel.
So whether you’re early in your career and looking to make a move to the buy side, or you’re an investment firm looking for ways to source young talent, it’s a list worth checking out.
More than a decade ago, Blackstone acquired credit-investing platform GSO. The deal has been a big win for the firm, with assets growing from $10 billion to $130 billion today. But GSO’s integration into Blackstone wasn’t entirely smooth. Casey Sullivan and Alex Morrell have the full, incredible story on the history of GSO.
Interested in more stories on GSO? Casey Sullivan and Alex Morrell have you covered, mapping out where 11 former GSO employees landed. With distressed-debt investing in the spotlight, it’s definitely worth a read.
Dakin Campbell and I reported last week on hedge funds eager to fill the void left by Robinhood shutting off access to its trading data. Now here’s a story on an alt-data provider who feels like it can fill that gap with its web-traffic data. Click here for the full story, which includes 20 charts of its data on some of the most popular stocks.
Speaking of follow-up reporting, Meghan Morris previously wrote about housing developer Corvias trying to influence return-to-campus plans for some colleges where it has student housing. Turns out that story caught the eye of Senator Elizabeth Warren and Representative Rashida Tlaib — who I am sure are big readers of this newsletter — and are now asking for more information. Meghan has all the details on the inquiry.
The American Express executive tasked with managing the soon-to-be acquired SMB lender Kabbage spoke to Shannen Balogh about how the fintech fits into the card giant’s broader strategy to go after small businesses. Here’s the full story.