๐‡๐ž๐๐ ๐ž ๐…๐ฎ๐ง๐ ๐‡๐ข๐ซ๐ข๐ง๐  ๐”๐ฉ๐๐š๐ญ๐ž:
As we move into Q2, theย Laz Partners team is continuing to see a lot of movement in the hedge fund Space. Below, we highlight some key strategies in demand, as well as a snapshot of some recent industry movements.

๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ข๐ž๐ฌ ๐ข๐ง ๐ƒ๐ž๐ฆ๐š๐ง๐:
1๏ธโƒฃ ๐ƒ๐ข๐ซ๐ž๐œ๐ญ๐ข๐จ๐ง๐š๐ฅ ๐Œ๐š๐œ๐ซ๐จ: We are seeing a big pickup in demand for directional macro talent, with several of our clients actively hiring PMs, Sub-PMs, and research talent to drive directional macro pnl. Additionally, thereโ€™s a growing need for macro specialists with backgrounds in areas such as STIR and Rates Vol to help support these teams as they build out.

2๏ธโƒฃ ๐‚๐ซ๐ž๐๐ข๐ญ: Our clients are significantly ramping up their hiring of Credit talent. This is not a surprise, given that the Goldman Sachs Capital Introduction Annual Allocator Survey recently noted that allocators are favouring credit over all other strategies. While credit has historically has been an area that many hedge funds (especially multi-strats) have struggled to get right (and with some firms even fully exiting credit in past years), it seems that there is huge hiring momentum, however with the bar being higher than ever at the same time for talent.

3๏ธโƒฃ ๐‚๐จ๐ฆ๐ฆ๐จ๐๐ข๐ญ๐ข๐ž๐ฌ: The marketโ€™s ongoing battle with energy transitions and volatility has sparked a large growth in demand for commodities expertise, particularly within the energy sector. Several of our clients are actively hiring PMs, Sub-PMs, and research talent to drive pnl within commodities.

๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐Œ๐จ๐ฏ๐ž๐ฆ๐ž๐ง๐ญ:
We have seen firms taking decisive hiring actions reflective of their strategic market positioning.ย Brevan Howardย has cut about two dozen traders in a bid to streamline operations and bolster performance. Similarly,ย Walleye Capitalย recently cut itโ€™s macro team, resulting in a dozen people leaving the firm.

On the expansionary front,ย Balyasny Asset Management L.P.ย is strategically hiring PMs, signaling confidence and a forward-looking growth plan, despite recalibrations post its event-driven credit business losses.

Citadelย andย Millennium, two of the industry’s most prominent names, continue to selectively onboard new PMs, although at a slower pace than in previous years.

We are continuing to see hedge funds rapidly expanding in ๐ƒ๐ฎ๐›๐š๐ข and ๐€๐›๐ฎ ๐ƒ๐ก๐š๐›๐ข, with a large migration of top-tier investment talent from financial hubs like London into the MENA region. Within Europe, ๐Œ๐ข๐ฅ๐š๐ง is has recently emerged as a new growth hub for hedge fund talent.

๐‚๐จ๐ง๐ง๐ž๐œ๐ญ ๐ฐ๐ข๐ญ๐ก ๐‹๐š๐ณ ๐๐š๐ซ๐ญ๐ง๐ž๐ซ๐ฌ
The team atย Laz Partnersย is actively looking to grow our network of top-tier investment talent, even those not looking to move until 2025.

For a confidential conversation (and if we have not spoken recently), please reach out to me atย [email protected] and I will be happy to connect you with a relevant member of our high-calibre team who can help.