Balyasny Ready To Raise Money, Recruit

Oct 31 2013 | 11:25am ET

Balyasny Asset Management plans to reopen its funds to new investment next year, no doubt hoping that some of the billions leaving SAC Capital Advisors will find their way to Chicago.

The firm told investors that its funds, which have closed to new investment over the past two years, would reopen in the first quarter, ValueWalk reports. Balyasny cited an improving opportunity set for the move.

It did not mention the difficulties facing its rival SAC, or that Citadel Investment Group is preparing to close its flagship funds to new investments. But it did say it is looking to add to its headcount—and Balyasny has already hired some traders fleeing scandal-tarred SAC, which is expected to plead guilty to insider-trading charges and become a family office.

Balyasny said in its quarterly letter that it is hiring in Asia, commodities, Eastern Europe, macro, telecommunications, media and technology, and healthcare. The firm said it is up 7.02% through September and has added 1.9% this month through Oct. 28.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...