Michael Grad is departing from Bluecrest Capital, where he has excelled since 2017 in recruiting and business development. His expertise in attracting top portfolio managers (PMs) has made him a highly valued asset in the competitive hedge-fund landscape. Despite Bluecrest's transition to a family office in 2016 due to previous poor performance, the firm recently rebounded, achieving significant gains and attracting attention. Grad's departure raises eyebrows in the industry, especially given the ongoing demand for skilled PMs among hedge funds.
Grad’s ability to lure talented PMs across an array of strategies is an edge hedge-fund managers covet and pay top dollar for.
Bluecrest was once one of the industry's top hedge funds, managing more than $35 billion, but it transitioned to a family office in 2016 after a run of poor performance.
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