Hedge Fund Balyasny quietly opened a new office near the beach

If you thought Miami was the only city where you can get a beachside hedge fund job, you'd be mistaken. Balyasny Asset Management is building out a small new office in the City of Angels.

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Balyasny's Los Angeles office opened earlier this year and is thought to only house a few teams. One will be run by Jake Koury; he previously spent four years at Balyasny in New York, covering consumer stocks, but left for Citadel back in 2020 to join its global equities group. 

Koury was also based in LA during his stint at Citadel. With Intelligence reported last year that his Citadel book was liquidated at a loss. He was thought to have previously posted strong returns across his tenure, however. We have not confirmed this with Koury, who did not respond to a request to comment.

Balyasny brought in another Citadel trader experiencing a rough patch earlier this year. Dave Brodsky, who Citadel said had a drawdown of $60m, is joining Balyasny on a pay package of up to $50m... after he finishes sitting out a 21-month non-compete.

Balyasny's plans for LA aren't set in stone. Future growth in the city is thought to be dependent on business and talent needs. As the Suits revival teaches us, swapping New York for LA can sometimes be short-lived.

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