Wednesday, 3 September 2014
Last updated 13 hours ago
Dec 30 2010 | 12:57pm ET
Three of the five former Stark Investments partners who left the hedge fund in June over disagreements about its future have landed at Balyasny Asset Management.
Former Stark President and Chief Operating Officer Colin Lancaster and former global macro co-head Ashok Bhatia headline the new arrivals at New York-based Balyasny. Bhatia's three-member team, which also includes former co-head of distressed investments Robert Dishner and former global macro team member Owen Walsh, are charged with building up Balyasny's global macro effort, Financial News reports.
All four will join Balyasny early next year, the firm told investors in a letter.
Balyasny has done little with global macro since spinning off Comac Capital, led by former top global macro trader Colm O'Shea, four years ago. Bhatia's team will be seeded with $250 million from Balyasny and will consider launching a separate fund in the second or third quarter. The team will also manage between 10% and 25% of Balyasny's multi-strategy fund.
"Ashok's strategy emphasizes a research-intensive, discretionary process which is designed to identify high-conviction macroeconomic themes," Balyasny said in the letter.
Lancaster will become a senior managing director at Balyasny, and in addition to focusing on the "build out of the macro strategy" will have other "executive" responsibilities.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...