Balyasny hired the CIO of a quant fund with a sad past
Balyasny Asset Management (BAM) has hired Limin Yang, a quant veteran who spent the past few years as chief investment officer at Nebula Research and Development, a New York-based stat arb fund.
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Nebula was founded by Michael Graves, a former top quant portfolio manager at Cubist. Graves spent nine years at Cubist and resigned in 2018. He founded Nebula in 2019. Sadly, Graves reportedly died of a heart attack aged 49 while on vacation with his family three years later, leaving his wife to run the fund. Business Insider reported that Paloma Capital Partners, which had seeded Nebula, pulled money from the fund following Graves' sudden death.
Yang's LinkedIn profile says he acted as CIO at Nebula from August 2022, a few months after Graves' death, until September 2025. Yang has only just joined Balyasny, which declined to comment.
Prior to Nebula, Yang was an MD on the quant research team at BlackRock alternative asset management, a portfolio manager at Laurion Capital Management, and a prop trader at Credit Suisse.
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