Key Takeaways
- • Balyasny Asset Management hired Daniel Chen, former co-head of BlackRock's US fundamental investment-grade credit platform, to lead a new dedicated credit team after his 30-year tenure at the asset manager ended in January 2026.
- • Chen will build out a team of three to four additional staff members, including traders and analysts, to expand Balyasny's US investment-grade corporate credit capabilities.
- • The new team will trade both long and short positions in US high-grade corporate bonds and pursue relative-value opportunities, positioning Balyasny to capture alpha in the credit markets.
- • Balyasny manages approximately $38 billion in assets across a multi-strategy platform spanning equities, macro, credit, and other strategies, with this hire signaling strategic expansion in the credit vertical.
Summary
Balyasny Asset Management has recruited Daniel Chen from BlackRock to establish and lead a new team focused on US investment-grade corporate credit. Chen, who spent nearly three decades at BlackRock before departing in January 2026, most recently served as co-head of the asset manager's US fundamental investment-grade credit platform and as a lead portfolio manager. According to Bloomberg, Chen joined Balyasny last week to spearhead this new initiative.
The hire underscores Balyasny's strategic intent to expand its credit investment capabilities. Chen is expected to build out the operation by recruiting three to four additional team members, including both traders and analysts, to support the mandate. The new credit team will focus on trading long and short positions in US high-grade corporate bonds while pursuing relative-value opportunities—a strategy designed to capitalize on inefficiencies and spread dynamics within the investment-grade credit markets.
Balyasny, founded by Dmitry Balyasny, operates as a multi-strategy hedge fund managing approximately $38 billion in assets. The firm's platform spans equities, macro, credit, and other alternative investment strategies. By bringing in Chen, a seasoned credit professional with three decades of portfolio management and investment experience, Balyasny is positioning itself to compete more aggressively in credit-focused strategies—an area where institutional investors have increasingly allocated capital amid volatile rate environments and credit market dislocations.
The hire underscores Balyasny's strategic intent to expand its credit investment capabilities. Chen is expected to build out the operation by recruiting three to four additional team members, including both traders and analysts, to support the mandate. The new credit team will focus on trading long and short positions in US high-grade corporate bonds while pursuing relative-value opportunities—a strategy designed to capitalize on inefficiencies and spread dynamics within the investment-grade credit markets.
Balyasny, founded by Dmitry Balyasny, operates as a multi-strategy hedge fund managing approximately $38 billion in assets. The firm's platform spans equities, macro, credit, and other alternative investment strategies. By bringing in Chen, a seasoned credit professional with three decades of portfolio management and investment experience, Balyasny is positioning itself to compete more aggressively in credit-focused strategies—an area where institutional investors have increasingly allocated capital amid volatile rate environments and credit market dislocations.
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