Energy investing remains a focus for Balyasny Asset Management, with the Chicago-headquartered hedge fund firm currently hiring traders in Denmark, Singapore, and possibly London, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming that Balyasny, which manages around $21bn, has already hired several commodities investment professionals in Singapore, and is looking to add power traders in Denmark. The company may also look to add to its growing gas, power and carbon desk in London, according to Bloomberg’s sources.
The recruitment drive comes despite a decline in the extreme energy market surges seen over the last year.
Energy markets remain sensitive to supply threats though, including concerns over an escalation of the current conflict in the Middle East, and Balyasny and its multi-strategy rivals including Millennium Management and Citadel, are looking to their teams of traders to profit from the upheaval in the energy landscape, while major investment banks including Goldman Sachs Group Inc, Citigroup Inc, JPMorgan Chase & Co, and Barclays Plc, have also reportedly been adding to their energy desks.
