Austen Partners
Equity L/S Analyst
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Equity Long/Short (Special Situations) Analyst - Generalist (Market Neutral)
Small, collegiate equity long/short hedge fund team searching for an Equity Analyst to take a generalist seat on a market-neutral, catalyst-driven book.
The Opportunity
Our client is a strong performing team with growing AUM, searching for an analyst who can generate ideas and drive alpha generation with a generous compensation structure. The book runs market neutral, so returns come from stock selection rather than beta, and the edge comes from identifying catalysts before the market prices them in. Global remit, and European tilt, all-cap universe with a mid-cap bias. You'll have direct access to the PM and real ownership of your ideas.
The Strategy
Special situations:
- Spinoffs
- Restructurings
- M&A
- Buybacks & Recapitalisations
- Index Entry & Exit Candidates
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Catalysts can include Earnings, Capital Markets Days, Management team changes, IPOs, etc.
The Role
- Originate, research and pitch new long and short ideas across sectors and geographies
- Underwrite special situations end to end, from deal mechanics and forced flows to post-event re-rating
- Build and maintain a forward catalyst calendar, positioning ahead of earnings, CMDs, management changes and IPOs
- Pair longs and shorts to isolate stock-specific alpha within a market-neutral framework
- Monitor live positions, refresh theses as news breaks, and recommend sizing and exits to the PM
You
- 4-10 years in equity investing or research, including at least 2 years at an equity l/s hedge fund
- Hands-on exposure to special situations: spinoffs, restructurings, M&A, buybacks, recapitalisations or index events
- A demonstrable record of generating original long and short ideas
- Generalist curiosity, with depth in European equities and comfort across market caps
- Rigorous financial modelling, sharp verbal communication, and the conviction to defend a view
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Why This Seat
- Small, collegiate team - ideas are debated openly and judged on merit, not seniority
- Genuine ownership - your names, your theses, your P&L attribution
- Broad remit - global, all-cap and sector-agnostic
- High performing team with growing AUM, and attractive performance related compensation
“It took my CV and asked me questions relevant to understanding what kind of jobs to suggest for me. Suggestions were almost perfect. Jobs were exactly what I’ve been looking for.”
Jessica, London
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