A handful of PMs have exited $20 billion Balyasny following departure of global equities head

  • Four stock-picking PMs have recently left Balyasny Asset Management.
  • The departures follow the exit of global equities chief Jeffrey Runnfeldt in October.
  • Balyasny is up 2.8% this year, lagging most of its peers.

Balyasny Asset Management, a $20 billion firm that parted ways with its global equities chief in October, has lost a handful of long-short equity portfolio managers.

Four stock pickers have recently left the fund, according to people familiar with the situation, including TMT investor Rob Bevegni, consumer PMs Jeff Russel and Matthew Gardner, and healthcare PM Chris Kuehnle.

Balyasny’s spokesman declined to comment.

Balyasny gained 0.05% in October in its Atlas Enhanced fund, which is now up 2.8% for the year, according to people familiar with the figures.

The fund underperformed its peers in multi-strategy hedge funds in 2023, and its equities business has been a source of concern. In early August, a group of long-short portfolio managers left, and in early October, global equities head Jeffrey Runnfeldt left.

There has been no announcement of a replacement, and Dmitry Balyasny, the group’s founder and CIO, has assumed leadership.

Similar Posts

Leave a Reply