Balyasny Asset Management (BAM) appears to have made one of Millennium’s London portfolio managers an offer he couldn’t refuse.
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Dan Avery, the 35 year-old recently-promoted partner at Millennium Management in London, is joining BAM to set up a delta one team.
Balyasny declined to comment. Millennium and Avery didn’t respond to a request to comment.
Avery, who famously made managing director at Goldman Sachs aged 28 in 2015, joined Millennium in October 2020. He’s thought to have run up to $1bn at Millennium and is expected to build a team at Balyasny.
It’s not clear what prompted Avery to leave Millennium for Balynasy, but it’s not thought to be related to performance. Balyasny, which recently promoted new partners, is adding new portfolio managers after comparatively weak performance in 2023. Sources say Avery is likely to have been offered up to $25m to make the move.
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