Balyasny Asset Management, the multistrategy hedge fund co-founded by the comparatively jolly personage of Dmitri Balyasny, has promoted a new class of partners.
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In a memo seen by eFinancialCareers, Balyasny and his co-founders, Taylor O’Malley and Scott Schroeder, announced the promotion of three new partners to accompany the 20 existing partners at the fund.
Two of the three, Wade Clarke and Max Zaraisky, are commodities portfolio managers. Clark, who joined Balyasny in 2021 from BP, is a US energy portfolio manager focused on natural gas trading. He started the Houston office. Zaraisky, who joined in 2021 from Squarepoint Capital, is based in the London office and has helped develop Balyasny’s data-focused commodities trading platform.
Balyasny’s third new partner is Steve Brown, a macro portfolio manager based in Austin Texas. Brown started the Austin office in 2017 and was praised by the fund’s co-founders for he and his team’s use of technology to generate high sharpe returns.
Balyasny’s partner promotions follow similar occurrences at Millennium, which made seven new UK partners in January, and ExodusPoint, which just promoted ex-Citadel equities portfolio manager, Yash Agarwal, in London.
Balyasny’s apparent enthusiasm for commodities investing comes after Citadel’s 20 person commodities trading team was understood to make $4bn in profits last year, implying a circa $600m bonus pool.
Balasny has $21bn in assets under management. Bloomberg reported that it generated made a $100m loss in its event driven credit trading business towards the end of 2023.
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