Hedge Funds

Balyasny unveils plans for big money raising


Balyasny Asset Management has been quietly putting the word out to investors that it plans to accept its first significant slug of capital since opening its doors three years ago - and will nearly triple its assets to $1 billion from the less than $400 million of equity capital it currently runs.

Until now, just a few outsiders had the chance to invest alongside the firm's own principals and Schonfeld Securities founder Steve Schonfeld, who incubated Balyasny's team and gave it his blessing to spin it out in 2001. As a result, BAM has become one of the