Balyasny promotes star stock picker to co-lead equities
Balyasny Asset Management has promoted portfolio manager Ilan Weiss to global co-head of equities, elevating one of the multi-strategy hedge fund's strongest-performing stock pickers to help oversee its largest investment strategy, according to a report by Bloomberg. The report cites an eternal memo sent to employees on Monday as saying that Weiss will run the equities business alongside founder…
Balyasny Asset Management has promoted Ilan Weiss, a star stock picker, to co-head of its equities division alongside founder Dmitry Balyasny, according to a Bloomberg report. Weiss, a portfolio manager at the multi-strategy hedge fund, will oversee the firm's largest investment strategy, which accounts for 35% of Balyasny's gross capital.
The promotion comes as the equities strategy continues to generate profits, proving crucial for the firm's overall performance amid losses in other areas. Weiss, who joined Balyasny in 2022 through the firm's analyst-to-portfolio-manager development program, has consistently outperformed other equity teams under Balyasny's leadership.
The leadership shift follows three years of Balyasny's direct involvement in the firm's equities investment platform, aimed at enhancing returns.
Written by urgent.news from Hedgeweek's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
