Zoe Berg

Traditionally, Yale’s finance clubs have been dominated by the “sell side” –– the part of finance that creates and sells investment products. Now, a new student group is tapping into growing interest in the “buy side.”

The Yale Undergraduate Hedge Fund Association, or YUHA, has grown to over 100 members since its founding in fall 2023. It is the only undergraduate club at Yale exclusively focused on hedge funds. 

Founder Asher Barondes ’26 started the club to fill a gap in pre-professional opportunities for students interested in the “buy side” of finance –– firms that invest in stocks, bonds and other assets to generate returns.

“[Before YUHA], I recognized that most clubs on campus weren’t geared towards the investment management side,” Barondes said. “So I wanted to create an opportunity for those interested in exploring it.”

YUHA aims to make hedge fund education accessible, offering a curriculum designed for students with and without finance backgrounds, Barondes said.

It hosts monthly speaker events with Yale alumni and hedge fund executives, giving members a chance to apply what they learn. This week, Jim Rogers ’64, CEO of the Quantum Fund and Soros Fund Management, will speak.

Around 19 percent of Yale graduates enter finance as their first job, typically landing at investment banks or consulting groups. Of the nearly 20 business-oriented clubs on campus, most emphasize skills suited for these roles, such as advising clients, facilitating trades and raising capital.

The rise of clubs like YUHA may reflect a broader shift, as hedge funds recruit more undergraduates directly, according to Eric Arabadzhiev ’28, YUHA’s incoming head of alumni engagement.

“A lot of Yale’s finance-adjacent culture is geared towards banking and consulting and over the past say 20 years, we’ve been incredibly successful at getting people in those positions,” Arabadzhiev said. “But as more and more buy-side firms, particularly hedge funds, have started opening their doors to recruit straight out of undergrad in recent years, the previous implied requirement of doing banking first has shifted more towards an option.”

One of the club’s biggest challenges is preserving a “small club” feel despite its growth, said co-president Jack Stemerman ’26. To maintain close connections, he and other board members host club dinners and conduct in-person interviews for prospective members.

Barondes attributed part of the organization’s growth to its relatively open recruitment process.

“Some clubs on campus are unnecessarily difficult to get into,” Barondes said. “I wanted to provide opportunities for students who are interested but haven’t had requisite experience. I think people really appreciate that.” 

Next, he aims to forge more partnerships with hedge funds and expand the speaker series. 

The group typically meets on Tuesdays.