A Tailored Approach to Leadership Recruitment in Alternative Investments

Hudson Gate Partners has established itself as a leader in executive search, specializing in the alternative investments sector. At the forefront of this success is Dawn Magnotta, head of the infrastructure practice, whose career spans over two decades in recruiting and finance. She recently sat down with Hunt Scanlon Media to discuss the firm’s approach to executive search, her observations in the alternative investments sector, and how she measures the success of candidates placed by Hudson Gate.

January 13, 2025 – The executive search industry attracts individuals for various reasons. Some are motivated by a passion for talent acquisition and the desire to assist organizations in securing top leadership. Others are drawn to the chance to work across different sectors and develop robust professional connections. Additionally, the promise of lucrative earnings and opportunities for career growth makes the field particularly appealing. But many that are in the field say it’s the true passion for people and finding the right fit for organizations.

Dawn Magnotta, head of the infrastructure practice at Hudson Gate Partners, joined the firm in 2016 and has over 20 years of recruiting experience in the alternative investments area. She has expertise in accounting, legal/compliance, human resources and operations executive search. Ms. Magnotta is also the co-head of the C-level executive search practice. Her expertise ranges from C-level to searches in the hedge fund, private equity, and family office space.

At the beginning of Ms. Magnotta’s career, she started out as an accountant at the investment banks. “I soon transitioned onto the investment side in mortgage bond sales,” she said. “During my time in bond sales, I was able to obtain a foundation in both the operational and the investment side of the business. I learned a lot about derivative products, and the clients I worked with were in the alternative investment arena, in hedge funds, pension funds.”

“I believe that my foundation working in accounting, operations, and the investment side is very unique in recruiting and definitely gives us an advantage, because not only do we have a strong understanding of what our clients do and the products they work with, but we also have a unique understanding of the type of people that work within alternative investments, culture fits, and career progression for candidates,” Ms. Magnotta said. “After working in finance, I went back to school part time to become a therapist. I received my master’s and post-master’s in counseling at NYU. My foundation and knowledge in the financial services business combined with my counseling expertise helps when talking to clients as far as helping advise them on what type of candidate they need, and what type of expertise they need. I am also a counselor to our candidates; we’re able to find a fine balance and put the clients’ and candidates’ needs first. We also act as career counselors to our candidates and help guide them through their career, whether it be taking a role with us or another firm.”

During her time at Hudson Gate Partners, the firm has helped to launch a few funds with over $1 billion. Ms. Magnotta and her team have worked with the newly launched funds to help them hire their first accounting professional, their first operations professional, their first general counsel, as well as some other key roles. “There are many challenges we encounter when building out infrastructure teams,” Ms. Magnotta said. “We need to truly understand a fund’s vision for their culture, and make sure that we are able to communicate it to potential candidates. We also need to conduct intensive market research on compensation at different levels. Usually, even before we start a search, we present a range of candidates at different experience levels. Finally, we work together with our client to craft an interview plan for each and every role, serving as advisors through each step of the process.”

Ms. Magnotta recently sat down with Hunt Scanlon Media to discuss her approach to executive search, what she is seeing in the alternative investment space, and measuring the success of candidates that Hudson Gate places.


Dawn, you mention a highly consultative approach to your search work. What does that look like in practice, and how do you ensure that you provide tailored advice to your clients?

 At Hudson Gate Partners, we do not just take a job description from a client and use that as our only tool to find them the best hire. We take the time to meet with clients, and really understand what it is they are looking for, what has not worked in the past, and where the gaps are (culturally and technically). We also get to know the individuals on the client team, so that we understand how current individuals collaborate, and what resources might be available to the new hire. We approach each search as trusted consultants/advisors. Most of the time, even within the search, a lot can evolve (the client realizes they need someone with more experience, less experience, budgets shift, etc.). Not only do we execute the actual search, but we also provide clients with updated market data, in regards to compensation and team structures.

What significant changes have you observed in the alternative investments space, particularly regarding talent acquisition and retention?

Since the onset of COVID, there has been a large shift with remote work, with a lot of younger candidates requesting to work more remotely. Most funds are now going back to the office at least three to four days. In terms of retention, when we are asked for compensation advice from clients, we look at compensation from a holistic approach. We look at the candidate’s background, the resources they have had, in addition to whether or not the candidate is outperforming others (and what the cost might be to replace that person). A lot of our funds now provide more growth for candidates, as younger candidates nowadays tend to move more than candidates did in the past.

When evaluating candidates for C-level positions versus min-level and junior roles, what differences do you find in the search process, and how do you adapt your strategies accordingly?

For mid-level and junior roles, we really try to assess their ability to perform the duties required, as well as their mindset and ability to pick up on new skills quickly. Most firms within alternative investments tend to be smaller than banks, so culture fit ends up being a critical component when assessing for fit, both at the junior, mid-, and senior levels. There’s more flexibility with the junior folks because there’s room for them to grow and evolve. With junior candidates, we have historically seen that technical ability is more important. With C-level, candidates must not only have done the duties of the role, but EQ and managerial experience tends to be required of candidates.

How has your background in finance helped you build trust and long-term relationships with clients and candidates in the industry? Can you provide an example of how that trust has led to successful placements?

I think that my background in finance has definitely helped to set me up as a financial recruiting leader. However, the background in finance isn’t the only thing– it is our track record of placing candidates who end up being very successful in their new roles, and stay to build up the funds. Over the years I have been at Hudson Gate Partners, we’ve had numerous funds that come back to us time and time again because of how successful our first placement was with them. We’ve earned our clients’ respect because we’ve taken the time to figure out what they are looking for, and have listened to them to know what they are looking for to fit in the culture they have created.

Can you describe the steps involved from the moment you are retained by a client to the initial planning of the search? What information do you gather during this phase?

From the moment that we are retained by a client, the first thing we do, if we haven’t done it already, is go over the job description and make sure that it is finalized. This is after taking a deep intake of the client’s needs, functions, and the team supports. We also go over a plan for the interview process and help guide them through what best practices would look like. We then set up a plan to show them the first set of a wide range of resumes that vary in level and compensation so that we can work together and narrow down what they are looking for, as the search evolves. Before we launch the search, we make it our priority to get to know the client, the department, and their culture. That entails phone calls, Zooms, and in person meetings.

What strategies do you employ to identify and attract potential candidates? How do you ensure a diverse pool of applicants?

We have a team of seasoned recruiters who have worked on both the sell side and the buy side; we have prior relationships with both clients and candidates. We are a female-founded diverse firm, so we make it our top priority to have a pool of diverse candidates in our database. Our first go at a search is a soft launch in which we talk to candidates we have interacted with in the past. Then, we always take a proactive approach, and selectively reach out to diverse candidates that would not only meet the needs of the client technically, but culturally as well.

“With C-level, candidates must not only have done the duties of the role, but EQ and managerial experience tends to be required of candidates.”

What criteria and methods do you use to evaluate candidates during the interview process? How do you ensure alignment between candidates and the client’s company culture?

Oftentimes, candidates start by saying what their firm and department does. We start off the process allowing the candidates to tell us about themselves — both professionally and personally. After we hear about what their department does, we do a deep dive into their exact role, and what they themselves have actually done. As many of our clients are smaller firms that are looking for “roll up your sleeves” candidates, sometimes, at our suggestion, our clients will also require a test on technical abilities and a professional culture test. We go above and beyond to assess abilities and culture fit, as we think it is important for smaller firms. We don’t just ask if the candidates know the actual role, but we also ask about the candidates’ management styles, past performance, as well as their personal and professional goals.

How do you maintain communication with your clients throughout the search process? What role do clients play in candidate evaluations and decision-making?

We make sure that we schedule a call weekly, if not bi-weekly, to go through the candidates and assess them pre and post interviews. Ultimately the clients have the final say in who they decide to hire, but we offer a tremendous amount of guidance throughout the entire process, as well as after a candidate is hired.

What kind of support do you provide after a candidate is placed?

Post-placement, because we’re a boutique firm, we’re very high touch. We talk to the candidates before they start, as they are about to start on the journey, and then again once or twice during the first few weeks. We also touch base with the client after the candidate has been onboarded a few times throughout the first month. If there are any issues that need to be addressed, as per the client and the candidate, we offer guidance, as a lot of these firms do not have internal HR. We make it a policy to take a candidate out for dinner after a placement so we can congratulate them and discuss how their first month of work has gone.

How do you measure the success of your placements over time, and what strategies do you have in place to maintain long-term relationships with both clients and candidates?

We constantly check in with both the candidates and clients, and we’ve maintained very close relationships (10-15 years after placements). We don’t just fill roles; we constantly check in with clients to see if there is any information they need from us, for instance, in regards to market color, compensation, and advice on building their infrastructure or internal departments.

Related: Bridging Leadership Gaps: The Journey from Education to Executive Search

Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor  – Hunt Scanlon Media

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