Walleye Capital restructures equity long/short business following 5.9% October loss
Walleye Capital is restructuring its internal equity long/short business following a 5.9% loss in October, with the $17bn hedge fund manager parting ways with the division’s head, Anil Gondi, and a substantial proportion of its investment team. In a letter to investors seen by Business Insider, chief executive and chief investment officer Will England said the firm was reviewing “every aspect” of…
Hedge fund manager Walleye Capital has announced a restructuring of its internal equity long/short business following a 5.9% loss in October. The company, which manages $17bn in assets, has parted ways with the division’s head, Anil Gondi, and a significant portion of its investment team. CEO and Chief Investment Officer Will England stated that the firm is reviewing "every aspect" of its business following its worst monthly performance since March 2020, and that the changes are due to the previous investment in developing the firm's internal stock-picking capabilities not yielding the expected results.
Despite the restructuring, Walleye does not plan to withdraw from equity investing and will continue to maintain its investments in externally managed stock-picking funds while recruiting new internal portfolio managers. The restructuring follows another senior departure from Walleye's equity business this year, with Matt Giannini leaving the unit in September to return to Citadel.
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