Sunday, 29 March 2015
Last updated 2 days 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…