Millennium syrup Balyasny's Schurr with an offer of $ 100 million

(Bloomberg) – Millennium Management has hired Steve Schurr, a senior stock manager at Balyasny Asset Management, with a possible payout of over $ 100 million. Schurr, who was Balyasny’s senior managing director of fundamental shares, will join a one -year -old garden leave at Izzy England’s millennium, according to people who are familiar with the case, who asked not to be identified, discussing staff movements. Representatives from both firms declined to comment. Schurr, 54, also refused to comment. The Hedge Fund of Dmitri Balyasny promoted Schurr in 2023 to its leadership team amid a renovation of the equity industry after leaving Jeff Runnfeld, head of the global stock, after a lack of performance. The firm, which runs about $ 24 billion, has since added several portfolio managers and offered possible payouts of as much as $ 50 million. Such compensation packages are usually paid over a few years and are linked to performance and subject to Klapbacks. Multimillion-dollar payments have become more common as multi-strategy hedging funds, including Balyasny and larger competitors Citadel and Millennium, compete for limited pool top traders. Multigrates have risen in popularity as investors seek steady returns, regardless of the market environment. Millennium, which runs about $ 73 billion and rarely posted a loss month, fell by 2% this year, as President Donald Trump’s trade war fueled volatility. Balyasny returned by 3.4% this year. Several high-profile portfolio managers have changed businesses this year, including Joon Park, who supported Kodai Capital Management of Millennium and joins Balyasny. Kodai returned all customer capital as part of the move. Schurr joined Balyasny in 2021 as a portfolio manager and later became a member of his investment committee. He previously worked at Steve Cohen’s Point72 Asset Management and Jim Chanos’ Kynikos Associates. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP first published: 30 Apr 2025, 01:41 am Ist