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Hedge Fund Balyasny Plans Hiring Spree for New Unit in Equities Expansion

  • Corbets Capital will debut in second half and grow to 20 teams
  • Business is named after a treacherous ski run in Jackson Hole

Balyasny Asset Management is launching a new business to bolster the hedge fund’s equities strategy and plans to hire investment managers as part of the expansion.

The unit, Corbets Capital, will debut in the second half of the year with offices in New York and Greenwich, Connecticut, according to a memo seen by Bloomberg. Tom Stephens, Balyasny’s associate director of research, will head Corbets as president, reporting to the firm’s equity-management team.