Walleye Capital Cuts Equity Teams After Worst Loss Since 2020
Walleye Capital terminated its head of equity long-short and reduced investment teams following a 5.9% loss in October.
The hedge fund Walleye Capital terminated Anil Gondi, its head of equity long-short, and a substantial portion of its internal long-short investment teams. The restructuring follows a 5.9% loss in October, marking the firm's worst monthly performance since March 2020.
CEO and Chief Investment Officer Will England informed investors that the firm is simplifying its internal equity business. England stated that previous efforts to improve the unit did not produce expected results and that the resources consumed were too high relative to the return.
Walleye Capital will continue trading stocks, with the remaining internal teams reporting directly to England. The firm is shifting its strategy toward hiring internal portfolio managers and investing in externally run stock-picking funds. To support this transition, the firm recently hired Anna Dev to identify external investment opportunities.
