Balyasny expands Swiss footprint with Planned Zug operation
Balyasny Asset Management is preparing to establish a presence in Zug, Switzerland, adding to a growing concentration of international hedge fund firms in the country’s low-tax financial centres, according to a report by Bloomberg.
Balyasny Asset Management, a Chicago-based multi-strategy manager managing approximately $38bn in assets, is set to establish a presence in Zug, Switzerland, according to a Bloomberg report. The firm, co-founded by billionaire Dmitry Balyasny, is advertising commodities-focused positions on its recruitment website, listing Zug as a potential location among other analyst vacancies.
While the firm already operates in Geneva as part of a global network spanning over a dozen locations, it is awaiting regulatory approval to conduct business in Zug. Zug, known for its favorable corporate-tax environment, has long attracted financial and commodities businesses, including the multinational trading group Glencore.
The expansion by Balyasny comes amid a broader increase in hedge fund activity in Switzerland, with firms such as Capula Investment Management and Schonfeld Strategic Advisors also setting up operations in the country.
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