Verition’s Equities Business Undergoes Changes
Verition, a small and friendly multistrategy hedge fund, has recently been making some significant changes to its equities business. Earlier this year, the firm brought on Gustav Rydbeck, a former equities COO from Balyasny, to serve as the global head of its equity long short business. However, it appears that there has been some movement within the team, as a senior portfolio manager is rumored to be leaving.
The Departure of Sara Nainzadeh
While Verition has declined to comment on the matter, sources have indicated that Sara Nainzadeh, a senior portfolio manager who joined the firm from Millennium, has left. Nainzadeh, who specializes in the industrials, materials, and energy sectors, had spent 20 years at Millennium before making the move to Verition earlier this year. The reasons for her departure remain unclear as she has not responded to requests for comment.
Nainzadeh’s departure comes on the heels of another senior portfolio manager, Richard Heath, who also left Verition recently. Former colleagues of Nainzadeh have described her as a star performer, with a reputation for generating significant alpha at a young age. Known for her directness, integrity, and focus on family, Nainzadeh has inspired incredible loyalty among those who have worked with her.
Next Steps for Nainzadeh
It is currently unknown what Nainzadeh, an English major, plans to do next. Interestingly, a report from nine years ago by Business Insider mentioned someone with her name having a secret room behind a bookcase, leading to speculation about her current whereabouts.
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