Balyasny Boosts Swiss Hedge Fund Scene With Plans For Zug Base

(Bloomberg) — Balyasny Asset Management is opening a presence in the Swiss tax haven of Zug, adding to the numbers of global hedge fund roles located in the country.

The Chicago-based firm with $38 billion assets under management is currently hiring for two commodities-related roles with Zug as a location option, as well as other analyst roles, according to the firm’s recruitment web page.

The firm co-founded by billionaire Dmitry Balyasny already has a presence in Geneva, among more than a dozen locations worldwide. It is currently awaiting a license to trade in Zug, according to a person familiar with the matter. The canton is well established as a low corporate-tax center, and commodity trading powerhouses including Glencore Plc are also located there.

Balyasny declined to comment.

Ranked among the biggest global multi-strategy hedge funds, Balyasny, like its peers, employs multiple teams of traders across asset classes to earn steady returns. As demand for multistrat services remains strong, firms are constantly on the lookout for more ways to recruit and retain top talent to run their growing assets. Aside from setting up in new locations to tap locally, some firms have been known to establish outposts for existing teams.

Switzerland has recently seen a flurry of hedge funds setting up a presence there including Capula Investment Management which established a Zug branch earlier this year. New York-headquartered Schonfeld Strategic Advisors plans to open in Zurich later in 2026, Bloomberg has reported.

Millennium Management has offices in both Geneva and Zug, while Brevan Howard Asset Management and Diego Megia’s Taula Capital Management each have offices in Geneva.

–With assistance from Liza Tetley.

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