Key Takeaways
- • Balyasny Asset Management promoted three new partners, bringing its partner count to 23 alongside the 20 existing partners, according to a memo seen by eFinancialCareers.
- • Two of the three new partners, Wade Clark and Max Zaraisky, are commodities portfolio managers, underscoring the fund's expansion in commodities trading.
- • Wade Clark joined Balyasny in 2021 from BP as a US energy portfolio manager focused on natural gas and started the Houston office; Max Zaraisky joined in 2021 from Squarepoint Capital and is based in London.
- • Steve Brown, a macro portfolio manager who started the Austin office in 2017, is the third new partner, praised by co-founders for technology-driven returns.
- • Balyasny manages $21bn in AUM and, per Bloomberg, lost $100m in its event-driven credit trading business toward the end of 2023.
Summary
Balyasny Asset Management, the multistrategy hedge fund co-founded by Dmitry Balyasny, has promoted three new partners, according to a memo seen by eFinancialCareers. The memo, issued by Balyasny and co-founders Taylor O'Malley and Scott Schroeder, adds the three to the fund's 20 existing partners.
Two of the new partners are commodities portfolio managers. Wade Clark, who joined Balyasny in 2021 from BP, is a US energy portfolio manager focused on natural gas trading and started the firm's Houston office. Max Zaraisky, who joined in 2021 from Squarepoint Capital, is based in London and has helped develop Balyasny's data-focused commodities trading platform. The third new partner, Steve Brown, is a macro portfolio manager based in Austin, Texas, who started the Austin office in 2017. The co-founders praised Brown and his team for their use of technology to generate high Sharpe returns.
The promotions follow similar moves at rivals. Millennium made seven new UK partners in January, and ExodusPoint recently promoted ex-Citadel equities portfolio manager Yash Agarwal in London. The article notes Balyasny's apparent enthusiasm for commodities comes after Citadel's 20-person commodities trading team was understood to have made $4bn in profits last year, implying a bonus pool of roughly $600m.
Balyasny has $21bn in assets under management. Bloomberg reported that the firm lost $100m in its event-driven credit trading business toward the end of 2023.
Two of the new partners are commodities portfolio managers. Wade Clark, who joined Balyasny in 2021 from BP, is a US energy portfolio manager focused on natural gas trading and started the firm's Houston office. Max Zaraisky, who joined in 2021 from Squarepoint Capital, is based in London and has helped develop Balyasny's data-focused commodities trading platform. The third new partner, Steve Brown, is a macro portfolio manager based in Austin, Texas, who started the Austin office in 2017. The co-founders praised Brown and his team for their use of technology to generate high Sharpe returns.
The promotions follow similar moves at rivals. Millennium made seven new UK partners in January, and ExodusPoint recently promoted ex-Citadel equities portfolio manager Yash Agarwal in London. The article notes Balyasny's apparent enthusiasm for commodities comes after Citadel's 20-person commodities trading team was understood to have made $4bn in profits last year, implying a bonus pool of roughly $600m.
Balyasny has $21bn in assets under management. Bloomberg reported that the firm lost $100m in its event-driven credit trading business toward the end of 2023.
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