Financial Models Portfolio S&P 
Mergers and Inquisitions
DECEMBER 6, 2023
The multi-manager hedge fund model is simple: Raise $10-20 billion, borrow at the fund level to take this to $50-$100 billion, and then allocate this capital to dozens of internal teams. Beta-Neutral Portfolios: For example, if the S&P 500 goes up or down by 5%, your team’s portfolio should move by ~0%.
Mergers and Inquisitions
JANUARY 31, 2024
They might have separate teams for specific strategies or markets, but everything is run under a single Profit & Loss statement (P&L). There are very few real “requirements” besides the single PM / single P&L one above and the standard Limited Partner / General Partner structure that all hedge funds use.
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Mergers and Inquisitions
MAY 24, 2023
If you’re working at a special situations fund, you could trade this deal in many ways: Long Jacobs and Short CMS – You believe the company is correct about the deal’s benefits, but you think CMS is overvalued at 11.5x 5) Portfolio Concentration – Many special situations and distressed funds run concentrated portfolios (e.g.,
Mergers and Inquisitions
FEBRUARY 28, 2024
And the credit rating agencies (S&P, Fitch, Moody’s, and Morningstar DBRS in distant 4 th place) specialize in fixed income research. You cover quarterly earnings and send updated models and notes to clients and other teams. Each role has common analytical elements, but the specifics and deliverables differ (e.g.,
Mergers and Inquisitions
APRIL 19, 2023
Diversified Miners – These companies have a wide global portfolio of mines, and they extract, produce, and distribute just about every metal in the two categories above. The metals & mining team’s classification varies based on the bank. One example is Steel Dynamics, which we feature in our main financial modeling course.
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