Hedge Funds

Balyasny adds merger arb, single-fee class


Balyasny Asset Management has hired a former senior analyst with Citadel Investment Group to head the firm's first foray into merger arbitrage. Balyasny has also launched a new investor share class that waives management fees but charges higher performance fees.

Adam Schwartz has joined Balyasny as a portfolio manager. In his new position, he will contribute to the firm's event-driven effort and establish a merger arbitrage strategy within Balyasny's flagship multistrategy fund, Atlas Global Investments.

Separately, Balyasny re-opened Atlas in September with a new share class that carries a 30% performance fee and no management fee.

Balyasny initially charged a