Pros
Verition has grown dramatically over the years in AUM, and has developed a very strong and stable track record.
However, the most important feedback is that it is investing heavily in its people and systems to build a great firm.
Unlike many multi-strategy market neutral firms, where short-term performance is all that matters, Nick and Josh have executed through their actions a communicated vision to build a firm that invests back in its people to drive long-term growth and a positive culture.
From Risk , Trading, Talent, HR, Marketing, and other functions, the teams noticeably over-index (vs peers) to wanting to help rather than police. The firm is investing in systems to make all of these functions top of class while retaining this positive culture.
Make no mistake, this is a performance-driven industry and firm, but the difference culturally is that the functions are set up to help and improve performance. As an example, during some market stress early this year, the firm and founders made themselves available. The firm also performed exceptionally well throughout the turmoil.
I highly recommend the firm across all of its functions based on my experience.
Cons
The firm has grown very quickly, but it is adding the right infrastructure and people to keep up and I see very positive dynamics.
