Mastering Niche Recruitment: A VP-Level Fundraiser for a Macro Hedge Fund in London

Executive Summary: Carnegie Consulting successfully navigated the recruitment of a Head of Fundraising for a Macro Hedge Fund based in London. This case study highlights our innovative approach to sourcing a candidate well-versed in dealing with High Net Worth clients and Family Offices, amidst a talent pool dominated by institutional-focused professionals.

Introduction: Our client, a privately-owned global investment company, required a fundraiser with specific experience in engaging directly with High Net Worth individuals and Family Offices. The challenge was intensified by the market’s inclination towards candidates with institutional backgrounds, relying heavily on brand recognition to secure assets under management (AUM).

Opportunity: The need was for a fundraiser who could independently drive fundraising without the backing of a well-known brand—someone who could genuinely engage potential investors and ‘roll up their sleeves’ to make sales happen in a growing business environment.

Solution: We crafted a dual-focused search strategy. Firstly, we targeted Property & Casualty Brokers within the hedge fund industry who were adept at reinsurance but were based outside of Minneapolis and demonstrated a willingness to relocate. Secondly, we approached professionals from related but peripheral markets who had strong personal connections or demonstrated flexibility in relocating to Minneapolis.

Execution: Our recruitment process involved a comprehensive understanding of the local and national candidate markets. We engaged in deep conversations with candidates to gauge their true motivations and capabilities. This involved detailed discussions about their career aspirations, personality fit within a small team environment, and long-term goals.

Findings and Benefits: We discovered that focusing on personal motivations and cultural fit was as crucial as assessing technical skills and experience. This approach allowed us to identify candidates who were not only capable of fulfilling the technical demands of the role but who were also genuinely interested in contributing to a start-up-like environment.

Result: The process led to the successful placement of a candidate who had previously relocated from Minneapolis to New York City but was looking to return home. This candidate was selected because of their strong local ties, motivation to return, and alignment with the client’s needs. The placement was completed with an excellent offer, including a relocation package that facilitated the candidate’s transition back to Minneapolis.