Being exposed to the alternative investments industry, even only for a few months, is like walking into the wardrobe that leads to Narnia. As an intern with limited knowledge of the alternative investments industry, I dove into the world of hedge funds, private equity, managed futures and more with a keen insight to learn. However, I wasn’t prepared for the other side when I crossed through the proverbial magic portal.
The Other Side
It’s “normal” to have the entry of fresh graduates and younger people (which has always occurred) entering the industry. What’s eye-opening is that they are redefining how a salesperson looks, moves, and talks. This newest group of entrants have grown up with a very different approach to gathering and processing information.
Who the “salesperson” is in the alternative investments world is something dissimilar to many other industries. In many areas of banking, it’s more commonplace to have analysts making that first call. However, in this relationships-based universe, senior partners take on client facing roles and have a team of support staff making sure the engine is well-oiled. Perhaps, this is one of the few environments left unpenetrated by the domination of millennials (yet!).
However, having seen the disruptive approach that Meyler takes to help raise capital, I might have spoken too soon. With the rate at which technology has been influencing all facets of business, perhaps the whole alternative investments industry may see a large shift in the way capital will be raised. And it’s not going to take 30 years to happen. It would not surprise me if the modern fund manager in a decade from now is a lot younger than when current managers first started out. With versatile, forward-thinking, and what we would now call “revolutionary” ideas.
The need to raise capital is something that will never change. However, ways to raise capital evolve on a continuous basis.
By Roderick Moy