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☆ Schonfeld's head macro researcher is leaving after less than a year to join Bridgewater
▼ + stars: | 2024-05-10 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Jerome Saragoussi, Schonfeld's top macro researcher, is set to join Bridgewater Associates. Saragoussi's exit follows the departure of macro trader Ben Melkman for Bridgewater. Schonfeld's top macro researcher is leaving after less than year to join hedge fund giant Bridgewater Associates. Jerome Saragoussi, head of macro research and strategy at Schonfeld Strategic Partners, is expected to join Bridgewater in June, according to people familiar with the matter, who weren't authorized to speak publicly about the move. The move reunites Saragoussi with macro trader Ben Melkman, who recently joined Bridgewater, the industry's largest hedge fund by assets, in a senior role after a brief spell at Schonfeld.

Persons: Jerome Saragoussi, Ben Melkman, Schonfeld, Colin Lancaster, Mitesh, weren't Organizations: Bridgewater Associates, Schonfeld Strategic Partners, Bridgewater, Business Locations: Bridgewater

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Schonfeld's Asia cohead is leaving the $10 billion firm's fast-growing outpost
▼ + stars: | 2024-05-07 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Eric To is leaving the $10 billion New York-based multi-manager, people close to the firm told Business Insider. He was the cohead of APAC and head of APAC fundamental equity. This story is available exclusively to Business Insider subscribers. A person close to the firm told Business Insider that To's cohead, Chris Antonelli, will take over as the sole head of the Asia business going forward. In the five years To was there, this person noted, Schonfeld's Asia business expanded to Japan and Australia and nearly tripled its head count in the region.

Persons: —, Eric, Sol Kumin's, Chris Antonelli, Ken Organizations: Service, Business, Schonfeld, SAC Capital, Schonfeld's, Citadel Locations: York, Hong Kong, Folger Hill, Asia, Balyasny, Schonfeld's Asia, Japan, Australia, APAC

☆ Billionaire Steve Cohen's $33.9 billion Point72 sheds stockpickers
▼ + stars: | 2024-05-07 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +2 min

Billionaire Steve Cohen's Point72 has cut at least seven long-short equity portfolio managers. The firm, which is up 5.9% in 2024 through April, has dozens of portfolio managers across strategies. AdvertisementBillionaire Steve Cohen's Point72 has cut at least seven long-short equity portfolio managers, several people close to the fund told Business Insider. As of last September, the firm had 100 long-short portfolio managers. Five more macro portfolio managers joined the firm in March, Bloomberg previously reported, and the total number of macro teams now stands at more than 50.

Persons: Steve Cohen's Point72, —, Brevan Howard, Schonfeld, Point72, Mo Grimeh Organizations: Service, Business, Bloomberg, Millennium

☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ Citadel's stock-pickers lead the way in April — here's how hedge fund competitors fared
▼ + stars: | 2024-05-02 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +1 min

Ken Griffin's $61 billion Citadel is leading multistrat funds in performance this year. The firm's flagship fund returned 2% in April, bringing 2024 gains to 7.8%. Firms such as Walleye, Millennium, and Schonfeld are also off to a strong start this year. Despite equity markets tumbling in April, Ken Griffin's teams of stockpickers helped lead his firm to a 2% return in its $61 billion flagship fund. A person close to Griffin's Citadel told Business Insider that Wellington's year-to-date returns rose to 7.8% following April's gains.

Persons: Ken Griffin's, stockpickers Organizations: Citadel, Walleye, Griffin's Citadel, Business Locations: Miami

☆ State of macro: Hedge funds Point72 and Pan Capital are adding talent, while Schonfeld, Brevan, and Walleye cut back
▼ + stars: | 2024-03-26 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Read previewIn what has been billed to be the year of macro, hedge funds are taking diverging paths on the sector. This story is available exclusively to Business Insider subscribers. Related storiesTwo people familiar with the changes told Business Insider that Jaime Villa, Schonfeld's head of macro research, is no longer with the asset manager. And despite the popularity the strategy might have with allocators at the moment, funds are still quick to cut underperformers. Brevan Howard, one of the biggest macro players in the world, cut dozens of investors earlier this month after its biggest loss on record in February.

Persons: —, Chris Rokos, Jaime Villa, Schonfeld's, Villa, Colin Lancaster, Mitesh, Jerome Sargoussi, Eisler, Raj Sethi, Brevan Howard, Steve Cohen's Point72, Mo Grimeh, Bloomberg —, Grimeh, Brett Gardocki — Organizations: Service, Federal, Business, Pimco, KKR, SPX, Walleye, Bloomberg, Millennium, Pan, Former Walleye Locations: Schonfeld's London, New York, Minnesota, Stamford, Houston, Hong Kong

☆ Schonfeld's strong start to 2024 has the once-imperiled manager besting larger peers
▼ + stars: | 2024-03-05 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The $10 billion manager returned 1.5% last month in its flagship fund, pushing its 2024 returns to 3.3% for the year, sources close to the firm told Business Insider. Since September, when Schonfeld was drumming up cash and cutting costs, the firm has returned 6.2% in its flagship fund and 7.4% in fundamental equity. Its 2023 performance to date has the New York-based manager leading its multi-strategy peers, including Millennium and Ken Griffin's Citadel. AdvertisementBalyasny, which trailed peers in 2023, was flat last month, while Michael Gelband's ExodusPoint was up 0.7%.

Persons: —, Schonfeld, Griffin's, Steve Cohen's Point72, Michael Gelband's ExodusPoint Organizations: Service, Schonfeld Strategic, Millennium, Business, Investors, Griffin's Citadel, Citadel Wellington Locations: Asia, York, Wellington

☆ The fastest-growing hedge funds are now investing conglomerates. That's changing how investors judge the biggest firms.
▼ + stars: | 2024-02-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

The rise in multi-manager hedge funds over the past five years has forced allocators to create a separate due diligence model for the fastest-growing segment in the industry. Even an executive at a midsized multi-manager admits their firm and its peers are "more like corporations than hedge funds." AdvertisementA new type of hedge-fund kingsFounders were once simply the best traders and money-makers, spinning out of banks' trading desks and larger hedge funds. Bobby Jain, the former Millennium executive starting his own multi-billion hedge fund, hasn't traded in decades but was a part of the leadership team at one of the biggest hedge funds in the world. Jobs at multi-manager platforms are roughly a quarter of the industry's overall roles, despite these funds holding roughly 14% of the assets.

Persons: —, allocators, Griffin's, Izzy Englander's, Jack Springate, Allen Cheng, Cheng, Bobby Jain, hasn't, Michael Gelband, Dmitry Balyasny, Steve Cohen, Izzy Englander, Ajay, Kevin Lyons, Lyons, Springate Organizations: Service, Business, Fortune, Goldman Sachs Asset Management, Aon, Millennium, Treasury Locations: Schonfeld's

☆ Ex-Informant Accused of Lying About Bidens Said He Had Russian Contacts
▼ + stars: | 2024-02-20 | by ( Glenn Thrush | Alan Feuer | ) www.nytimes.com time to read: +1 min

informant accused of making false bribery claims about President Biden and his son Hunter — which were widely publicized by Republicans — claimed to have been fed information by Russian intelligence, according to a court filing on Tuesday. But Mr. Smirnov told federal investigators that “officials associated with Russian intelligence were involved in passing a story” about Hunter Biden. Those disclosures, including Mr. Smirnov’s unverifiable claim that he met with Russian intelligence officials as recently as three months ago, made him a flight risk and endangered national security, Justice Department officials said. Mr. Smirnov had been held in custody in Las Vegas, where he has lived since 2022, since his arrest last week. He was released from custody on Tuesday on a personal recognizance bond after a detention hearing, said his lawyers, David Chesnoff and Richard Schonfeld.

Persons: Biden, Hunter —, Republicans —, Alexander Smirnov, Smirnov, Hunter Biden, David Chesnoff, Richard Schonfeld Organizations: Republicans, Justice Locations: Las Vegas

☆ Citadel is on top, and Schonfeld is picking up steam. Here's how hedge funds kicked off the new year.
▼ + stars: | 2024-02-02 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Hedge funds are off to a good start in 2024 after mediocre performance last year. January returns were strong at multi-strategy managers like Citadel, Point72, and Millennium. A leaner Schonfeld closed out a rough 2023 on high note, and it's kept the momentum going in 2024. In 2023, even the best multi-strategy hedge funds trailed the broader stock market. Citadel led its peers with a 15.3% gain last year, but the S&P 500 notched a total return of 26.3%.

Persons: it's, Ari Glass Organizations: Citadel, Business Locations: Point72, Wellington

☆ Eisler portfolio manager Sean Gambino is spinning out of the London-based hedge fund and launching his own firm
▼ + stars: | 2024-01-12 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Read previewLess than two years after joining Eisler Capital, Sean Gambino is spinning out of the $4 billion multi-strategy firm and starting his own manager, two people familiar with the matter told Business Insider. This story is available exclusively to Business Insider subscribers. He was one of many investors who closed down their own, smaller firms to join forces with a larger multi-strategy fund, which can offer big payouts and reduced compliance and technology headaches. Eisler will support the new firm, one of the people familiar with the matter told Business Insider, though details are still scant on the new fund. AdvertisementWhile Eisler has lost a portfolio manager to start 2024, its team is still much larger than it was a year ago.

Persons: —, Sean Gambino, Gambino, Eisler Organizations: Service, Eisler Capital, Business, Heron Bay Capital Locations: Heron Bay, Stamford , Connecticut, Europe

☆ As key deadline looms, Schonfeld employees remain in the dark about the hedge fund's future
▼ + stars: | 2023-11-13 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +4 min

The update, according to two people with knowledge of the talks, was that there is no update — at least about the much-ballyhooed tie-up between Schonfeld and its much larger rival, $60 billion Millennium Management. Whether investors will pull a significant chunk of capital or stand by the firm won't crystallize until 5 p.m. Thursday. Schonfeld, whose assets stood at $11.7 billion in October, has experienced two years of lackluster returns following a period of rapid expansion. Schonfeld management was courting several institutional investors, and in early October, the Financial Times reported that Millennium threw its hat in the ring. In the event of some form of tie-up with Millennium, there would be redundancies, especially in corporate and back-office roles.

Persons: they'd, Ryan Tolkin, Andrew Fishman, Izzy Englander, execs, Schonfeld, Justin Gmelich, Goldman Sachs, Balyasny, Dmitry Balyasny — Organizations: Strategic, Millennium Management, Strategic Partners, Investor, Financial Times, Millennium, Seagram Locations: Schonfeld, —

☆ October was a scary month for stocks, but multi-strategy hedge funds saw some gains. Here's how funds including Citadel, Millennium, and Point72 performed.
▼ + stars: | 2023-11-06 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Stocks slid for the third consecutive month in October, but top hedge funds fared better. Multi-strategy hedge funds mostly produced positive returns, continuing a recent run of strength. Citadel, Point72, and Schonfeld each saw gains of 1% or better last month. Stocks fell for the third consecutive month in October. Multi-strategy hedge funds have fared better over that spell, including mostly positive performance in October.

Persons: Stocks, Point72 Organizations: Citadel Locations: Point72

☆ Millennium isn't Schonfeld's only suitor. Investors like Blackstone and Abu Dhabi's wealth fund are also in the picture, as the deal is far from certain.
▼ + stars: | 2023-10-13 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +4 min

The message was that a tie-up with Millennium was a 50-50 proposition and that any agreement would be contingent on Schonfeld remaining independent. Other strategic investors in the mix include Blackstone, GIC, and Future Fund, an Australian sovereign wealth vehicle that's already a significant Schonfeld investor. Schonfeld's assets have dipped this year amid meager returns, and the fund has cut costs and slowed hiring in recent months. But fundraising from cautious institutional investors is time-consuming, and Millennium chief trading officer Mark Meskin contacted Schonfeld's leadership to discuss a potential tie-up, sources say. Schonfeld, industry sources say, was likely under pressure from existing investors, who have had to bear a higher brunt of the fees following redemptions.

Persons: Izzy Englander, Justin Gmelich, Ryan Tolkin, Schonfeld, Steve Schonfeld's, Mark Meskin, Schonfeld's, — Organizations: Financial Times, Millennium, Schonfeld, Tolkin, Abu, Abu Dhabi Investment Authority, year's, Future Fund Locations: Manhattan, Millennium's, Abu Dhabi, Schonfeld

☆ Summer is fading. But performance in August was hot at hedge funds including Citadel, D.E. Shaw, Millennium, and Sculptor
▼ + stars: | 2023-09-07 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Most managers posted positive performance, Sculptor and Citadel led the way. Shaw (+1.3%) also had strong performance. Multi-strategy fund managers remain as popular as ever. "Clearly right now the multi-strategy managers are very much in vogue. Here's how other top multi-strategy players stacked up after August:Fund August performance Year-to-date performance Sculptor Multi-Strategy 2.8% 12.6% Citadel Wellington 2% 10.8% Point72 0.83% 6.6% D.E.

Persons: Shaw, Ken Griffin, Here's, Marshall Wace Eureka Organizations: Citadel, Financial Times, Capital, Wellington Fund, Citadel Wellington, Shaw Locations: Wellington

☆ Schonfeld's growing pains: Ryan Tolkin reckons with his greatest challenge yet as returns dry up at the $13 billion hedge fund
▼ + stars: | 2023-08-23 | by ( Alex Morrell | ) www.businessinsider.com time to read: +14 min

When it was raising fresh money from investors in 2020, one slide on the pitch deck for the hedge fund Schonfeld Strategic Advisors got to the heart of the issue: "Why Schonfeld?" A hedge fund recruiterAmid the weakness, the fund has begun to prune costs. Steve Schonfeld (class of 1977) and Brad Tolkin (class of 1976) attended Roslyn High School in Roslyn Heights, New York. Tolkin told Insider in 2019 that the firm's goal was no less than becoming "the premier equities hedge fund globally." While Steven Schonfeld's 20% annual-return goals would've been ambitious for any sizable hedge fund, returns have also lagged behind peers.

Persons: Israel Englander, Ryan Tolkin, Steve Schonfeld, hasn't, It's, Schonfeld, Quita Ramirez, Trina Geatz, who've, Tolkin, Goldman Sachs, Andrew Fishman, Goldman Sachs —, Steven Schonfeld's, Ryan Tolkin's, Brad Tolkin, Brad, Jeff, Alex Morrell Steve, CJ, Sean, Ryan, Brad Tolkin's, Steven Schonfeld, Ryan —, who's, Steve, Michael Gelband, Michael Englander, Izzy Englander's, Steven, Sharpe, Fishman, Michael Nagle, Colin Lancaster, would've, Brevan Howard, ExodusPoint Organizations: Citadel, Duke, Goldman, Long, Newsday, Schonfeld Securities, Roslyn High School, American Express, Cleveland Cavaliers, Jewish, —, Bloomberg, Strategic Partners, Equity, Schonfeld, Nasdaq, Management Locations: Israel, Miami, Stamford , Connecticut, Manhattan, Delta, Duke, Long Island, Roslyn Heights , New York

☆ Hedge fund performance in July was muted. But Citadel distanced itself from Point72, Millennium, and other competitors.
▼ + stars: | 2023-08-04 | by ( Alex Morrell | ) www.businessinsider.com time to read: +1 min

Top multi-strategy hedge funds trailed the stock market in July. Citadel led the pack, gaining 1.3% last month and pushing its 2023 tally to 8.6%. Verition bested most of its peers, gaining 1.2% in July. The world's largest hedge funds, meanwhile, posted more muted gains. Among its multi-strategy hedge fund peers, Ken Griffin's $59 billion Citadel remains second to none, gaining 1.3% in July in its flagship Wellington fund.

Persons: Verition, Ken Griffin's, It's, Marshall Wace Eureka Organizations: Citadel, Citadel Wellington, Hudson, International, Representatives Locations: Wellington

☆ $13 billion hedge fund Schonfeld loses several senior technology and recruiting personnel
▼ + stars: | 2023-07-19 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Several leaders in Schonfeld's technology and recruiting teams have recently exited. Several leaders of multi-strategy hedge fund Schonfeld Strategic Advisors' technology and recruiting operations have exited the firm, according to people familiar with the matter. Steve Kordik, who headed up a team in North America responsible for supporting the trading technology platform, left in May. Tom Burdo, director of front-office technology talent acquisition, left in June. Schonfeld, which manages about $13 billion in outside money, grew from some 600 employees in mid-2021 to around 860 at the end of 2022, according to a filing with the Securities and Exchange Commission.

Persons: Vincent Aniello, Schonfeld, Steve Kordik, Renee Kenas, Radhika Arora, Tom Burdo, Point72, buildout, Colin Lancaster, Mitesh, It's, Toby Kung, Derry Herlihy, Goldman Sachs, Riccardo Riboldi Organizations: Advisors, Securities and Exchange Commission, LinkedIn, Citadel, Derry, Delta Locations: North America, Macquarie

☆ How Citadel, Millennium, Point72 and other hedge fund giants stack up as they enter the second half of a challenging year
▼ + stars: | 2023-07-06 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Hedge funds have reached the halfway point in a challenging year. The first half of 2023 was not how hedge fund managers drew it up. They invested heavily in global macro hiring late last year, expecting plenty more runway in the strategy's revival after a blockbuster 2022. Overall, the hedge fund industry lags far behind, gaining just 1.23% through May, according to the HFRI Fund Weighted Composite Index. Citadel's strength has been one of the few certainties in an otherwise uncertain year for hedge funds.

Persons: Ken Griffin's, Izzy Englander's, Here's, Steve Cohen's Point72 Organizations: Millennium, Suisse, HFRI, Ken Griffin's Citadel, Citadel Wellington, Carlson, Global Locations: Wellington

☆ 'It can't get much worse than this': A trail of portfolio managers have resigned or been liquidated as the once lush index-rebalance strategy dries up
▼ + stars: | 2023-05-11 | by ( Alex Morrell | ) www.businessinsider.com time to read: +5 min

Heavyweight multi-strategy hedge funds aren't known for their patience. It seems their patience has run out on the index-rebalance strategy, one of the most popular and sought-after hedge fund moneymakers in recent years. Representatives for the hedge funds declined to comment or did not respond to requests for comment. While hedge funds are allocating their capital elsewhere, they haven't given up on index-rebalance trading. Do you know more about the index-rebalance trade?

☆ Point72 and Citadel outpaced rival hedge funds in April. Here's how Millennium, D.E. Shaw, and other multi-strats are faring this year.
▼ + stars: | 2023-05-04 | by ( Alex Morrell | ) www.businessinsider.com time to read: +1 min

Point72 led multi-strategy hedge funds in April with a gain of 1.58%. Citadel was up 1.11% and leads peers year-to-date with a gain of 5.37%. Point72 had the best month among multi-strategy hedge funds, up 1.58% in April and 4.63% for the year. Citadel continues its hot streak with a 1.11% return in April and leads among peers year-to-date, up 5.37%. Fund April performance Year-to-date performance Point72 1.58% 4.63% Citadel 1.11% 5.37% D. E. Shaw (as of 4/21) 0.60% 1.90% Balyasny 0.82% 1.32% ExodusPoint (0.10) 0.80% Millennium Flat 0.50% Schonfeld 0.30% 0.20%April saw a reversal of sorts among hedge fund strategies.

Firms that concentrate on stocks, however, rode a late month market rally to small gains, according to investors and industry data. Many hedge funds are still compiling March and first quarter numbers, but preliminary reports from research firm Hedge Fund Research showed the average hedge fund was off 1% last month and ended the quarter flat. The macro hedge fund is down nearly 9.5% year-to-date through March, the source added. The Balyasny Atlas Enhanced fund gained 0.8% in March and is up 1% for the year. A Goldman Sachs report, based on returns posted by the bank's prime brokerage's clients, showed fundamental long/short funds gained 1.04% in March.

☆ Multi-strategy hedge funds had mixed results for a mad March. Here's how Citadel, Millennium, and Point72 did.
▼ + stars: | 2023-04-04 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

Multi-strategy hedge funds had a mixed March after the Silicon Valley Bank collapse put markets on edge. The Citadel Wellington fund ended the month up 1.38%, while Steve Cohen's Point72 was up 1.33%. Equities was up 2.16% in March, bringing year-to-date performance to 4.56%. Its global fixed income fund returned 0.12% in March, bringing year-to-date performance to 1.77%. Hedge fund performance figures are still trickling out, but data and reports suggest that trend-following and macro funds were caught out after the banking crisis rocked markets.

☆ Why Goldman Sachs alumni are being hoovered up by elite hedge funds like Citadel and Millennium
▼ + stars: | 2023-03-21 | by ( Alex Morrell | ) www.businessinsider.com time to read: +14 min

In November, one of the world's most consequential hedge funds announced a shake-up at the top of its power structure. In an internal memo, the founder of Millennium Management, Izzy Englander, said that Bobby Jain would be vacating the co-CIO role. "You can't readily find that managerial experience at other hedge funds and Goldman is a perfect place to look for those people." 8 former Goldman Sachs leaders are now Millennium execsEnglander isn't alone — firms rarely are in the copycat world of multistrats. In a statement to Insider, Abbey Collins, a spokesperson for Goldman Sachs, said, "Goldman Sachs has always been and remains a talent magnet.

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