WorldQuant Lures Talent With Intellectual Property

  • Hedge fund seeks to hire 15 teams for its Accelerator platform
  • Quants can access firm’s modeling and back-testing techologies

Igor Tulchinsky’s $5 billion WorldQuant is seeking at least 15 teams of independent quantitative money managers in an effort to grow its multi-manager platform.

WorldQuant is trying to attract top talent to its Accelerator platform, which currently has about 15 teams of managers, by offering them its modeling and back-testing technologies, the hedge fund said in a statement on Tuesday. The quants will also be allowed to keep their intellectual property, according to a person with knowledge of the matter. The strategies created by the managers will be used within WorldQuant’s main portfolio.

“We are seeing more and more interest from the industry’s top quantitative talent in joining established institutional investment platforms that have been built by quants for quants,” Tulchinsky, chief executive officer of WorldQuant, said in the statement.

The hedge fund’s willingness to let managers retain rights to their algorithms is rare in the industry and could help WorldQuant compete for the top minds in mathematics, financial engineering, computer and data science. Quant funds face growing competition for recruits from traditional hedge funds that have joined the race to develop big data and quantitative investing, in addition to technology giants like Google Inc. and startups.

WorldQuant, which is based in Old Greenwich, Connecticut, has made other efforts to tap hard-to-find quant talent. It maintains offices in 15 countries around the world, including India, Vietnam, and South Korea. Before starting WorldQuant in 2007, Tulchinsky, a native of Belarus, spent 12 years as a money manager at Millennium Management focusing on statistical arbitrage, a mathematical strategy that seeks to profit from price differences across markets. WorldQuant manages money for Millennium.

— With assistance by Katherine Burton, and Simone Foxman

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