Hedge fund Balyasny hired the co-head of BlackRock's US investment grade platform
Daniel Chen seems like the sort of guy who finds somewhere nice to work and hangs around there for a long time.
💥Follow us on WhatsApp for news alerts.💥
For 26 years until January 2026, Chen's nice place was BlackRock's New York office. He joined in 1999 after graduating in economics from Wharton. He stayed while he did an MBA at NYU Stern. In 2023, he became the key guy running BlackRock's global corporate bond fund. And then he left for "another opportunity."
That opportunity is at Balyasny Asset Management (BAM). BAM declined to comment but Chen's LinkedIn profile says he's just arrived at the fund as a portfolio manager, based in New York.
BAM could perhaps benefit from additional senior credit talent. Its fixed income business is run by Steve Goldberg and Nilson Kocher, both of whom have macro backgrounds.
Multistrategy hedge funds have been adding new firepower to their investment grade credit teams. In January, for example, Millennium created a new credit trading business under Dan Friedman, who joined in 2023 and previously ran credit trading at Diameter Capital Partners in Europe. Friedman reports into Millennium's CIO Justin Gmelich, and has made various hires, including Gianfranco Canepa from JPMorgan.
Jain Global also recently hired Jon Stead, a high yield trading MD from Morgan Stanley.
Follow me on X. Follow me on LinkedIn.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.
