From an army of traders in Long Island to quants around the world: What’s coming next for hedge fund powerhouse Schonfeld Strategic Advisors

August 13, 2019

Steven Schonfeld, Ryan Tolkin, Andrew Fishman

Billionaire Steven Schonfeld’s hedge fund was quick to adopt algo-trading strategies and now has 75 portfolio managers across the world.
Schonfeld Strategic Advisors has been open to outside capital for just over three years and has bold aspirations — its chief investment officer says the goal is to be the premier equities hedge fund in the world.
The firm keeps to its roots, though, with 50 old-school traders still working in Long Island, roughly half of whom have been with the firm for more than 15 years.
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Schonfeld Strategic Advisors — the hedge fund that grew out of the fortune of billionaire trader Steven Schonfeld — has seemingly bold aspirations given it has been open to outside investors for just three years.

“Our goal is to be the premier equities hedge fund globally,” said Ryan Tolkin, Schonfeld’s chief investment officer, in an interview with Business Insider at the firm’s midtown Manhattan office.

A lofty target, but the firm’s ambitions might not be as much of a reach as they sound — it has been steadily adding strategies over the years, enjoys stable financial backing from its founder, and has demonstrated an ability to navigate change in the past.

Schonfeld, known in the 1980s for using legions of Long Island-based traders to essentially do quant trading by hand, now has 75 hedge fund portfolio managers across the world that employ event-driven equity, quant, and discretionary long-short strategies, with $2.6 billion in outside assets.

See more: Billionaire Steven Schonfeld poaches a top quant from Glenn Dubin’s Engineers Gate to run a new fund

And the firm once said to be a part of “Wall Street’s B-list” by a Wall Street Journal article in 2009 is outperforming many of its better-known peers in Chicago, Greenwich, and …read more

Source:: Business Insider

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