Silver Ridge Capital Management, the macro hedge fund set up by Citi’s former global head of FX Anil Prasad in 2015, is a small operation – even if it has been hiring senior ex-traders from investment banks this year.
However, Jean David Aube, a former interest rates options trader at Barclays who joined Silver Ridge when it launched in 2015 as a portfolio manager, has just departed. He’s left for the most aggressive buy-side recruiter of 2017 – Balyasny Asset Management.
Aube joined Balyasny Asset Management as a macro portfolio manager in September, after nearly two years in a similar role at Silver Ridge. He was one of six London-based employees at Silver Ridge, which has around $300m in assets under management.
Earlier this year, Silver Ridge hired Jay Parshottam for its London office from Citigroup, where he was a managing director in emerging markets credit trading. It also brought in Elias Sakkal and Jay Rawal, a former senior trader at J.P. Morgan, as portfolio managers in its New York office.
Silver Ridge released its UK accounts for 2016 in September this year, and made £654k profit. This follows a loss of £101k in 2015 when the fund was setting up.
Aube is the latest recruit at the Chicago-based Balyasny, which has been poaching from large investment banks and rival hedge funds alike this year as it builds its London operation and aims to become the ‘Amazon’ of hedge funds by hiring traders and portfolio managers across a diverse range of strategies.
As well as Aube, Balyasny also hired Ryan Capilupi, a portfolio manager at Tudor Investment Corp in London, as an associate portfolio manager in late September. Capilupi left Tudor in June after nearly ten years at the hedge fund. He joined in 2007 from Deutsche Bank, where he was an associate equities trader.
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