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Big Hedge Funds to Swoop on Start-Up Talent

MoneyBeat – Some of the world’s biggest hedge funds, including Marshall Wace, Millennium Management, CQS and BlueCrest Capital Management, are among firms that are capitalizing on a difficult environment for start-ups, hiring potential managers who might once have considered setting up on their own.

Marshall Wace, which has seen its assets grow 60% in the past 12 months to $10.7 billion, is planning a recruitment drive in the U.S., which will be spearheaded by partners Daniel Roberts and Nick Nielsen, who are relocating to New York. The firm plans to hire about a dozen staff, including portfolio managers in the next couple of years and is moving its U.S. office from Connecticut to midtown Manhattan, according to a person familiar with the matter.

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