Moore Capital Management, the storied New York hedge fund founded by Louis Bacon, is quietly strengthening its bench by rehoming high-performing portfolio managers exiting rival multi-strategy firms, according to a report by eFinancial Careers.
In its latest moves, Moore has hired Barry Piafsky, formerly of Eisler Capital, and Neil Smith, a standout from ExodusPoint Capital Management, according to people familiar with the matter. Both traders specialise in relative value strategies – arbitraging price discrepancies between historically correlated assets – and have previously ranked among the top performers at their former firms.
The hires signal Moore’s continued evolution from its roots as a global macro hedge fund into a leaner multi-strategy investment office, now housing around 50 portfolio managers and focusing increasingly on managing Bacon’s personal wealth alongside select external capital.
Piafsky, who previously spent eight years at Moore before joining Eisler in 2023, reportedly left Eisler in May following a significant drawdown – allegedly around $30m – linked to volatility during the early stages of Donald Trump’s tariff announcements. Sources suggest Moore had been courting Piafsky’s return ever since his departure.
Smith, meanwhile, exited ExodusPoint in February and is believed to have recently completed a non-compete period. He was widely regarded as one of ExodusPoint’s top profit generators, with deep expertise in fixed income and relative value strategies.
Moore Capital declined to comment on the hires.
