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- ExodusPoint, which set a record for the biggest hedge fund launch ever last year with $8 billion in seed capital, has brought on Ivan Ross, the former head of fixed income at Carlson Capital, to run a bond sleeve for the New York-based manager, according to people familiar with the matter.
- Ross’ team will run a fixed-income strategy that will be a part of the firm’s larger multi-strategy fund, sources say.
- Ross is joining ExodusPoint with former Carlson portfolio manager Ron Buesinger and former Carson analyst Keith Albert, the people said
- ExodusPoint has been aggressively hiring to put its seed capital to work, primarily adding from founder Michael Gelband’s old shop, Millennium.
Millennium Management’s former fixed-income head, Michael Gelband, has hired Carlson Capital’s former fixed-income head, Ivan Ross, to his new firm, sources tell Business Insider.
Ross will run a fixed-income strategy at Gelband’s ExodusPoint Capital Management, which broke records when it launched with $8 billion in seed capital last year. The strategy will feed into the firm’s larger multi-strategy offering, sources say.
Ross’ team already includes two former Carlson investment professionals — former portfolio manager Ron Buesinger and former analyst Keith Albert— and sources say there are plans to eventually add more team members.
The three joined ExodusPoint in March, according to sources and Albert’s LinkedIn profile.
Buesinger was also the head of mortgages and rates at Carlson.
Hedge Fund Alert initially reported on Ross and Albert joining ExodusPoint, but did not report Buesinger joining ExodusPoint.
Ross left Carlson in 2018 after running the fixed-income side of billionaire Clint Carlson’s Dallas-based fund. Before Albert was an analyst for Carlson, he was the chief technology officer for Iron Peak Capital Management and Tequesta Capital Advisors, according to his LinkedIn.
Ross, Albert, and Buesinger did not immediately respond to requests for comment. Carlson and ExodusPoint declined to comment.
See more: Here are the hedge-fund managers to watch in 2019 as the industry battles poor performance
ExodusPoint hired aggressively last year, and the firm’s goal is to eventually have 30 teams trading across equities and fixed income in New York and London. The firm recruited heavily from Gelband’s old shop, and also reportedly pulled people from hedge funds like Tudor Investment Corporation and Caxton Associates and investment banks like Nomura and Cantor Fitzgerald.
The fund barely broke even through roughly six months of trading last year, but has reportedly been up 1.61% through February this year. A somewhat slow start for performance has not scared off large investors: Texas Teacher Retirement System announced a $300 million investment in the fund last month.
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Source: Business Insider – bsaacks@businessinsider.com (Bradley Saacks)