Balyasny Asset Management expands Swiss presence with planned Zug office

Balyasny Asset Management, a Chicago-based multi-strategy hedge fund managing approximately $38 billion in assets, is planning to expand its presence in Switzerland by opening an office in Zug.

The firm is currently awaiting a license to trade in the canton and has begun advertising for commodities-related roles and analyst positions that list Zug as a potential location. Balyasny, co-founded by Dmitry Balyasny, already maintains operations in Geneva.

This move follows a trend of international hedge funds establishing operations in Switzerland’s low-tax financial centers. Other firms recently active in the region include Capula Investment Management, which opened a Zug branch earlier this year, and Millennium Management, which operates in both Geneva and Zug. Additionally, Schonfeld Strategic Advisors is reportedly planning a Zurich opening in late 2026.