Equity researchers looking for jobs on the buyside may find hedge funds acting in their favour, both by hiring researchers themselves and encouraging long only funds to recruit.
It emerged today that Centaurus Capital, a $2.5bn (€2.1bn) London-based hedge fund manager, has hired Roberto Casoni, a former senior luxury goods analyst at Citigroup. Recruiters say hedge funds' appetite for research staff is rising.
"Hedge funds are recruiting more analysts as the sector grows," says Andrew Morland, head of finance recruitment at EM Finance. He adds: "At smaller hedge funds the role is a hybrid of research, trading and portfolio management, but larger funds increasingly have distinct roles for analysts."
A headhunter focused on equity research confirmed the trend. "Big asset inflows mean hedge funds have a lot more money to manage. As the industry matures, funds are taking on a lot more specialist research professionals."
He points to hedge funds such as Egerton Capital and TT International, which he says employ teams of between six to ten equity analysts to work on European long short funds.
Last week, Richard Grottheim, chief executive of AP7, the Swedish national pension fund, told a London conference that hedge funds could face greater competition from traditional long-only managers who make more use of in-house stock research to dictate investment decisions.