Schonfeld Strategic Advisors is preparing to establish a new office in Zurich, further expanding its presence in Europe as competition intensifies among multi-strategy hedge funds seeking to attract and retain investment talent, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as revelling that the New York-headquartered firm intends to launch the Swiss office later this year. As part of the expansion, Schonfeld has recruited portfolio managers Yohan Hwang and Pierre Kling from rival multi-manager platform Millennium Management, with both expected to be based in Zurich.
Representatives for Schonfeld and Millennium reportedly declined to comment on the move, while Hwang and Kling did not respond to requests for comment.
The planned Zurich office reflects a broader trend among large multi-strategy hedge fund firms, many of which are expanding their geographic footprint to access new talent pools and provide greater flexibility for investment teams. Switzerland has become an increasingly attractive destination for hedge funds, offering access to experienced financial professionals and a well-established investment ecosystem.
Several prominent alternative investment firms already maintain a presence in the country. Millennium operates offices in Geneva and Zug, while Brevan Howard and Taula Capital Management have established bases in Geneva.
The Swiss expansion comes amid a period of significant growth for Schonfeld. The firm has approximately doubled its assets under management over the past two years, reaching around $20bn. During that time, it has broadened its investment capabilities through additions to its credit platform, including convertible arbitrage and structured credit strategies, while also making a number of hires across its macro investing business.
Hwang joins Schonfeld after roughly six years at Millennium. Prior to that, he worked at Element Capital Management, according to publicly available professional records. Kling spent more than three years at Millennium and was previously with Bell Rock Capital Management, where he worked for around five years.
