Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- Everything you need to know if you want to get hired as a junior investor at private-equity giant KKR.
- New, smaller hedge funds are thriving this year. Here's why.
- We've got an update on Merrill Lynch's advisor training program.
Insider.com update: Newsletters are now coming from our new domain, @insider.com. Also, a friendly reminder to add [email protected] to your address book.
Like the newsletter? Hate the newsletter? Feel free to drop me a line at [email protected] or on Twitter @DanDeFrancesco.
Small hedge fund managers are feeling optimistic as launches surge and investors seek alternatives to the industry's biggest names
Starting in July 2020, there have been three consecutive quarters where more funds were launched than were liquidated – an impressive stat since fundraising meetings and conferences ground to a halt during the throes of the pandemic.
Click here to read the entire story.
How to land a job at KKR, according to one of the private-equity giant's top HR execs
In 2020, KKR accepted less than 2% of 1,678 collegiate applicants to its analyst program. We spoke with Grace Koo, KKR's head of talent acquisition, who told us they're looking for two attributes in applicants: exceptional intellect and strong cultural alignment. Here are the other tips she gave for landing a job.
Affirm, Klarna, and Afterpay are in the midst of a 'difficult moment' as big players like Apple and PayPal push into BNPL
David M. Benett/Getty Images
Fintechs like Affirm, Afterpay, and Klarna are fighting for consumer loyalty as incumbents step in. Here's where the competition is.
College dropout turned hedge fund manager Eric Khrom is up 47% this year. His latest investor letter lays out the drivers of his blockbuster performance.
Several hedge funds have struggled to replicate their 2020 success so far this year - but Eric Khrom's fund is not one of them. Here are some of the firm's biggest winners this year.
Merrill Lynch's talent pipeline is showing early signs of getting back on track after months of uncertainty
After months of turmoil within the advisor training program, a higher number of advisors-in-training than Merrill expected are now electing to continue with the newly shortened program. Here's what that means for the storied wealth management firm.
Credit Suisse just rehired a specialty-finance dealmaker who's a double boomerang at the bank to rebuild its FIG team
Credit Suisse is adding people back to its financial institutions group by rehiring a banker who previously spent 15 years at the firm, per an internal memo. A look at what we know about his new role.
Odd lots:
Marc Rowan Plans to Be the CEO Who Keeps Apollo Above the Fray (Bloomberg)
M.B.A. Programs From Stanford to Columbia and NYU Pass on Hybrid Learning (WSJ)
Tether: the former plastic surgeon behind the crypto reserve currency (FT)
Co-Working Spaces Are Back. And There Are Many, Many Options. (NYT)
Bitcoin's Volatility Isn't Slowing Down Crypto Hiring Spree (Cheddar)