Key Takeaways
- • Ilex Capital, a London-based hedge fund founded by former Citadel traders, has expanded to $7 billion in assets under management with headcount exceeding 40 staff members and relocated to a premium Kensington office.
- • The firm hired James Osoi as a quant researcher this month; Osoi previously spent over five years at Balyasny conducting quant and quantamental research across London and Singapore, most recently working at Orbis Capital Management.
- • Ilex's compensation structure is competitive: the firm paid an average of $997,000 in salaries and wages to 23 employees in its fiscal year ending March 2025, with the top earner receiving $80 million.
- • Paul Ward, another senior quant at Ilex who joined in January 2025, came from UBS where he headed quantitative investment solutions for the wealth management division, indicating the fund's strategic focus on building quantitative research capabilities.
Summary
Ilex Capital, a London-headquartered hedge fund established by former Citadel traders, continues its rapid expansion through strategic talent acquisition in quantitative research. The firm has grown its assets under management to $7 billion and expanded its workforce to over 40 employees, recently securing larger office premises in Kensington—a move that signals confidence in sustained growth.
The hedge fund's recruitment focus has turned toward building quantitative capabilities. This month, Ilex hired James Osoi as a quant researcher, bringing substantial experience from the sector. Osoi spent more than five years at Balyasny, where he developed expertise in quant and quantamental research across both London and Singapore operations. Prior to joining Ilex, he held a position at Orbis Capital Management working on quant research and data insights. His arrival follows the January 2025 hire of Paul Ward, who joined from UBS as a quant professional and previously headed quantitative investment solutions for UBS's wealth management arm.
Compensation levels at Ilex reflect competitive market standards for institutional-grade hedge funds. According to the firm's most recent financial accounts for the year ending March 2025, Ilex paid 23 employees an average of £738,000 ($997,000) in salaries and wages. The compensation structure shows significant variance, with the highest-paid individual earning $80 million, consistent with typical hedge fund pay models that heavily reward portfolio managers and senior investment professionals. These figures underscore the firm's ability to attract talent from established institutions including major asset managers and bulge-bracket banks.
The hedge fund's recruitment focus has turned toward building quantitative capabilities. This month, Ilex hired James Osoi as a quant researcher, bringing substantial experience from the sector. Osoi spent more than five years at Balyasny, where he developed expertise in quant and quantamental research across both London and Singapore operations. Prior to joining Ilex, he held a position at Orbis Capital Management working on quant research and data insights. His arrival follows the January 2025 hire of Paul Ward, who joined from UBS as a quant professional and previously headed quantitative investment solutions for UBS's wealth management arm.
Compensation levels at Ilex reflect competitive market standards for institutional-grade hedge funds. According to the firm's most recent financial accounts for the year ending March 2025, Ilex paid 23 employees an average of £738,000 ($997,000) in salaries and wages. The compensation structure shows significant variance, with the highest-paid individual earning $80 million, consistent with typical hedge fund pay models that heavily reward portfolio managers and senior investment professionals. These figures underscore the firm's ability to attract talent from established institutions including major asset managers and bulge-bracket banks.
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