Hedge Funds Pay Up in U.S. to Poach From Rivals Stung by Turmoil
- Pay packages at multimanager giants can exceed $20 million
- Millennium, Balyasny hiring on track with last year’s level
This article is for subscribers only.
Izzy Englander sent his Millennium Management staff to work from home in early March. Since then, about 100 people have quietly joined the $42 billion hedge fund.
He’s not the only one snapping up talent as a deadly pandemic roils markets and upends offices. Dmitry Balyasny has recruited 12 portfolio managers at his eponymous firm this year, and Michael Gelband’s ExodusPoint Capital has added 20, according to people with knowledge of the matter. Across the industry, hiring by multimanager shops is on pace with last year’s robust level.