A handful of portfolio managers exited $20 billion hedge fund Balyasny in early August

• Four stock-picking portfolio managers left Balyasny in early August.
• Some are headed to rival multi-manager hedge funds, according to people familiar with the matter.
• The $20 billion fund is trailing its peers in performance this year.

According to people familiar with the matter, multi-strategy hedge fund Balyasny Asset Management saw a handful of departures in its stock-picking business earlier this month.

According to the sources, four portfolio managers left the $20 billion fund in early August, including Neville Irani, Colin Kronewitter, Ben Shapiro, and Jason Temerowski.

A spokesman for Balyasny declined to comment.

Some of the departing employees are said to be joining competing multi-strategy funds.

According to his LinkedIn profile, Temerowski, a financials PM who has been with Balyasny since 2004, will be joining ExodusPoint. Ben Shapiro, a healthcare project manager, is also said to have left to join another multimanager.

Balyasny has lagged behind its peers in terms of performance this year, returning 1.3% through July.