Balyasny Asset Management has encountered a setback with plans to build its merger arbitrage capabilities after plans to hire a senior analyst from Citadel Investment Group fell through.
As reported in the November issue of Absolute Return, Adam Schwartz was slated to jump ship from Citadel and report to work at Balyasny, but the hire did not occur. Citadel declined to comment. Schwartz, who is no longer at Citadel, could not be reached for comment.
Balyasny had recruited Schwartz to head up a new merger arbitrage strategy in its flagship multistrategy fund, Atlas Global Investments.
Balyasny still intends