New York-based hedge fund firm Walleye Capital has appointed Portfolio Managers Jared Baker and Conor McDonnell to lead a new financial sector equities investment strategy as the $8bn manager continues to refine its multi-strategy platform, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as revealing that the new strategy will initially run exclusively within Walleye before the pair are given the option to launch an external fund backed by third-party capital.
Baker, who joins in September, previously worked at Kodai Capital, Citadel Global Equities and Balyasny Asset Management. McDonnell, set to start in November, was most recently at Azora Capital and earlier at Citadel’s Surveyor Capital.
Walleye, which has repositioned itself as a multi-strategy firm with a focus on volatility, quant, and fundamental long-short strategies, has pulled back from some areas of expansion and paused new investor inflows to keep assets manageable. The firm gained 17% in 2024 and is up 8.8% through July this year.
