"From Millennium to Citadel, Soren Gandrud has traded for some of the biggest hedge funds in the world. Now, he's setting out on his own with backing from one of the industry's up-and-coming players, $12 billion Walleye Capital, two people close to the funds told Business Insider. His fund, Jones Hill Capital, is expected to raise at least $500 million, these people said, with capital from other backers in addition to Walleye. It is set to begin trading in the first quarter of 2026."
"The move is another example of how in-demand top traders from the biggest multistrategy funds are, with many striking out on their own with support from large firms. Gandrud, who invests in the healthcare sector, hired industry veteran Marty Meekins as his chief operating officer and brought former Tourbillon and Balyasny investor Nik Khetarpal to his team. Gandrud spent roughly three years at Millennium before leaving to start Jones Hill earlier this year."
Soren Gandrud will start Jones Hill Capital, a healthcare-focused hedge fund, and is expected to begin trading in the first quarter of 2026. The fund plans to raise at least $500 million, with day-one backing from multistrategy firm Walleye Capital and additional external investors. Gandrud hired Marty Meekins as chief operating officer and added investor Nik Khetarpal to the team. Gandrud previously traded at Millennium for roughly three years and spent a decade at Citadel's Surveyor unit, with earlier experience as an analyst at HealthCor Management. Walleye deploys capital to independent managers to access top trading talent.
Read at Business Insider
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