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Nishant Kumar reports that LMR is building a group to allocate capital to traders outside of its own employee base.
The move comes as multi-strategy hedge funds increasingly compete to deploy funds with traders who rarely or never work from their own offices, reflecting a rising trend in separately managed accounts (SMAs) in the industry.
Nishant Kumar previously reported that Millennium is set to back a new quantitative hedge fund led by former Citadel researcher Paul Dou, with potential assets exceeding $1 billion here. In an earlier update, BlueCrest described the UK as less attractive for business after losing a $265 million Supreme Court case related to trader tax treatment here. These developments reflect the shifting priorities and risks facing large hedge funds.