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.


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