Balyasny Asset Management posted record revenue growth in Asia last year, with regional revenues jumping 82% year-on-year as the global multi-strategy hedge fund continues to expand its footprint across the region, according to a report by Bloomberg.
The Chicago-based firm, which manages around $31bn in assets globally, has increased combined headcount across its Hong Kong, Singapore and Tokyo offices by 40% over the past two years to approximately 250 staff, according to chief operating officer Kevin Byrne. Asia now accounts for more than a quarter of the firm’s total revenue.
Balyasny has operated in Asia for nearly two decades and currently runs more than 30 investment teams in the region, around 30% more than a year ago. The firm plans to lift that number by a further 10% to 20% on a net basis over the coming year as it continues to invest heavily in talent and infrastructure.
The expansion reflects broader industry trends, with large multi-manager hedge funds deepening their presence in Asia to capitalise on diverse economic conditions, policy divergence and increasingly liquid capital markets across China, India and Japan.
Balyasny has been seeking to close the gap with larger rivals such as Millennium Management, Citadel, and Point72 Asset Management. AUM at the firm has risen nearly 50% since late 2023 following a rebound from a period of weaker performance and redemptions, supported by a 17% return in 2025.
The firm has ramped up recruitment globally, spending around 1.5% of assets annually on hiring. In Asia, investment staff now number about 130, with several newly hired portfolio managers yet to start trading due to non-compete restrictions.
Recent senior hires include Patrick Yau, one of the region’s largest equity portfolio managers, who joined as head of the Hong Kong office, and Ron Choy, a veteran Japan macro trader formerly of BlueCrest Capital Management.
Balyasny is also expanding its physical presence, with plans to move into a significantly larger Tokyo office in March. The office will support both locally led trading pods and Asia-focused teams run by portfolio managers based elsewhere.
