Key Takeaways
- • Walleye, a $17 billion multistrategy hedge fund, hired two executives in October 2026 to expand its equity long-short stock-picking unit: Jordan Tanner from Balyasny Asset Management and Anna Dev from Millennium Management.
- • The firm lost Matt Giannini, its chief operating officer of the unit, who returned to Citadel in September 2026 after less than a year in the role.
- • Walleye has added 14 external equity long-short managers in 2026 so far, nearly doubling its roster from 17 outside funds, and now runs about half of its equity long-short market exposure through outside managers, according to a person close to the firm.
- • Three internal PM hires (Mike Scheer, Matt Aleksinas, Mike Li) start before year-end, with five more stock-picking PMs set to trade once non-compete periods expire in 2027.
- • Walleye is down 0.5% year-to-date through the first three quarters of 2026, trailing rivals and PivotalPath's multistrategy index, which returned more than 6% over the same period.
Summary
Walleye, the $17 billion multistrategy hedge fund manager, is expanding its equity long-short stock-picking unit despite the September departure of chief operating officer Matt Giannini, who returned to Ken Griffin's Citadel after less than a year in the role, according to Business Insider Africa, which cited a person close to the firm.
This month the firm hired two executives to support the unit. Jordan Tanner, Balyasny Asset Management's chief equities strategist, will work across the fundamental stock-picking, volatility and central strategies teams and is tasked with using artificial intelligence and other technologies to improve collaboration among them. Anna Dev, who previously recruited and evaluated external investment opportunities at Millennium Management, will focus on recruiting investing talent across the firm and evaluating external managers. Both will begin at the New York-based firm in mid-2027. The unit is run by Anil Gondi, a former Balyasny portfolio manager who previously worked with Tanner. Walleye declined to comment.
The stock-picking business has grown both internally and externally. Walleye's long-short equity division added 14 external managers in 2026 alone, and three additional external stock-picking firms are planned for backing once they launch. The firm started the year with investments in 17 outside equity long-short funds, so the expansion nearly doubles that roster. Outside funds now run half of the equity long-short market exposure, and spin-outs by former Citadel portfolio managers have been a focus.
Walleye is also building its internal PM bench. Mike Scheer (formerly of Jain Global), Matt Aleksinas (formerly of SIR Capital) and Mike Li (formerly of Junto) are scheduled to start before year-end, and five more stock-picking PMs will begin trading for the firm once their non-compete periods expire next year.
Performance has been weak in 2026. Walleye has lost money in eight of the year's first nine months and is down 0.5% through the first three quarters, trailing rivals and the overall market, while PivotalPath's multistrategy index returned more than 6% over the same period. The firm produced a 15.5% gain in 2025, outpacing larger peers including Millennium.
This month the firm hired two executives to support the unit. Jordan Tanner, Balyasny Asset Management's chief equities strategist, will work across the fundamental stock-picking, volatility and central strategies teams and is tasked with using artificial intelligence and other technologies to improve collaboration among them. Anna Dev, who previously recruited and evaluated external investment opportunities at Millennium Management, will focus on recruiting investing talent across the firm and evaluating external managers. Both will begin at the New York-based firm in mid-2027. The unit is run by Anil Gondi, a former Balyasny portfolio manager who previously worked with Tanner. Walleye declined to comment.
The stock-picking business has grown both internally and externally. Walleye's long-short equity division added 14 external managers in 2026 alone, and three additional external stock-picking firms are planned for backing once they launch. The firm started the year with investments in 17 outside equity long-short funds, so the expansion nearly doubles that roster. Outside funds now run half of the equity long-short market exposure, and spin-outs by former Citadel portfolio managers have been a focus.
Walleye is also building its internal PM bench. Mike Scheer (formerly of Jain Global), Matt Aleksinas (formerly of SIR Capital) and Mike Li (formerly of Junto) are scheduled to start before year-end, and five more stock-picking PMs will begin trading for the firm once their non-compete periods expire next year.
Performance has been weak in 2026. Walleye has lost money in eight of the year's first nine months and is down 0.5% through the first three quarters, trailing rivals and the overall market, while PivotalPath's multistrategy index returned more than 6% over the same period. The firm produced a 15.5% gain in 2025, outpacing larger peers including Millennium.
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