Key Takeaways
- • Lazard Asset Management expands its quantitative equity platform by hiring a four-person systematic investment team from San Francisco-based hedge fund Baylight Capital, which the team founded in 2013.
- • The new Lazard U.S. Systematic Equity team comprises Oren Shiran, Philip Summe, Stefan Tang, and Seavan Sternheim, bringing expertise across financial markets, mathematics, and computer science.
- • The team employs a multi-model quantitative framework focused on identifying market inefficiencies, currently targeting U.S.-listed companies with market capitalizations below $10 billion and managing both long-only and long/short portfolios.
- • Lazard Asset Management manages $228.7 billion in client assets as of May 31, 2019, and this expansion strengthens its quantitative equity, U.S. equity, and alternative investment capabilities.
- • Nathan Paul, Chief Business Officer of LAM, emphasized the team's differentiated approach will enhance the global investment platform and provide clients with additional solutions for evolving investment needs.
Summary
Lazard Asset Management announced on June 18, 2019, the expansion of its quantitative equity platform through the addition of a specialized U.S. systematic equity investment team. The four-member team—Oren Shiran, Philip Summe, Stefan Tang, and Seavan Sternheim—joined LAM from Baylight Capital, a San Francisco-based hedge fund the team had founded in 2013. This strategic hire marks a significant capability expansion for Lazard's alternative investment offerings.
The team brings a differentiated systematic investment process centered on a multi-model quantitative framework designed to identify and exploit market inefficiencies consistently. The investment approach focuses specifically on U.S.-listed companies with market capitalizations below $10 billion, operating both long-only and long/short portfolio strategies. Team members collectively possess diverse expertise spanning financial markets, mathematics, and computer science—a combination positioning them to execute sophisticated quantitative strategies.
According to Nathan Paul, Chief Business Officer of Lazard Asset Management, the addition directly strengthens the firm's quantitative equity, U.S. equity, and alternative investment capabilities. He noted that the team's "differentiated approach and unique perspectives will enhance our global investment platform and add value for our clients," while also providing additional investment solutions to address evolving client needs. At the time of the announcement, LAM and affiliated asset management companies within the Lazard Group managed $228.7 billion in client assets as of May 31, 2019, representing substantial scale for deploying the team's systematic investment strategies across institutional and alternative investor bases.
The team brings a differentiated systematic investment process centered on a multi-model quantitative framework designed to identify and exploit market inefficiencies consistently. The investment approach focuses specifically on U.S.-listed companies with market capitalizations below $10 billion, operating both long-only and long/short portfolio strategies. Team members collectively possess diverse expertise spanning financial markets, mathematics, and computer science—a combination positioning them to execute sophisticated quantitative strategies.
According to Nathan Paul, Chief Business Officer of Lazard Asset Management, the addition directly strengthens the firm's quantitative equity, U.S. equity, and alternative investment capabilities. He noted that the team's "differentiated approach and unique perspectives will enhance our global investment platform and add value for our clients," while also providing additional investment solutions to address evolving client needs. At the time of the announcement, LAM and affiliated asset management companies within the Lazard Group managed $228.7 billion in client assets as of May 31, 2019, representing substantial scale for deploying the team's systematic investment strategies across institutional and alternative investor bases.
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