Private Equity: A Memoir

Author: Carrie Sun

Hedge Funds have always had this air of mystery about them. I picked up this book as it promised to give a first hand view into what goes on at the very top of a hedge fund. Carrie Sun, the author, is the daughter of Chinese Immigrants who have made a lot of sacrifices so Carrie can have the best education and be well set up for life. She graduated  from MIT with dual degrees in Mathematics and Finance and at just 25 years of age she got to work as an analyst at Fidelity Investments where she was making over $300K a year. However she was burnt out by the intense work culture and was disillusioned with her job, so she quit and of all things decided to become the personal assistant and right-hand to the hedge fund’s billionaire founder, “Boone Prescott”

We only have Carrie’s word for it, but by all accounts she was very good at her job. She had an inside view to everything happening in and around her, but the book is scant for details (probably for good reason as I can’t imagine why her employer would consent to her sharing any company or personal secrets).  There’s details of the opulent trappings of the upper echelons of power and privilege.  The only things that stick with me are company events and some food and sundries. 

What is clear from the start is that Carrie is expected to work 24/7 and she has no work/life balance of any sort. She ends up taking on more tasks than she can possibly complete by herself. The drama is around how the assistants don’t want to help each other and to cut a long story short, Carrie gets eventually burnt out here as well.  

The book is very well written and is a breeze to read. However there’s not much to sink your teeth into.