Balyasny’s New Yen Rates Hire

• According to Bloomberg, Balyasny Asset Management has reportedly recruited a prominent yen rates portfolio manager, Ron Choy with a compensation package valued at approximately $30 million. This move is part of Balyasny's broader strategy to enhance its macro trading capabilities, particularly in the Japanese government bond (JGB) market.

• Joon Park, co-founder of Kodai Capital, is joining Balyasny Asset Management as Chief Operating Officer of Equities. Park co-founded Kodai in 2020 with Neville Shah, backed by Millennium Management. Kodai decided to return capital to investors and shut down due to underperformance in 2024 and early 2025, and Park's impending departure. At Balyasny, Park will report directly to founder Dmitry Balyasny, contributing to the firm's ongoing efforts to enhance its equities division according to Bloomberg’s reporters Nishant Kumar and Siddharth Vikram Philip.

• Hans Tang, a portfolio manager at Dymon Asia Capital, is departing the firm after his merger arbitrage strategy reached its predetermined loss limit, leading to the automatic liquidation of his positions. Tang joined the $4.7 billion hedge fund in May 2024, bringing experience from Millennium Capital Management and UBS Group AG. His exit underscores the stringent risk management practices within multi-manager hedge funds, where individual pods operate under strict loss thresholds to protect overall capital.