Balyasny Asset Management is a hedge fund that has seen an immense growth in their tech infrastructure since 2017. To take their business to the next level, the firm has tapped into the public cloud technology of Amazon Web Services and Microsoft Azure and deployed an arsenal of secret weapons that are expected to prove invaluable for their mission.
The hedge fund, set up by Dmitry Balyasny, Scott Schroeder, and Taylor O’Malley in 2001, has invested heavily in their tech infrastructure and their spending has increased by 130% in 2022 compared to the previous year. With about 75% of their technology resources available on the cloud, their tech division has been successful at efficiently utilizing the cloud-based tools and services of Big Tech.
Michael Grimaldi, the Chief Information Officer of Balyasny, detailed four cloud-based tools that the firm had built or significantly updated over this past year. He stated that their data, applications, and investment teams all operate on cloud-based technologies and as they expand, they have been able to develop more applications and take existing ones to a much larger scale.
Grimaldi, a former managing director of JPMorgan and Goldman Sachs, stated that the big leap taken by the hedge fund enabled them to save money and time as they did not need to rip out and replace their existing legacy tech.
Carson Boneck, the Chief Data Officer of Balyasny, has provided more details on the four cloud-based tools created by the hedge fund. He added that these tools have been developed to respond to their front office’s expanding role and make sure the back-end technology can keep up with their growth. To accommodate the expansions, their tech and data team has doubled in size over the past year and currently consists of more than 450 people.
In conclusion, Balyasny Asset Management is leveraging the power of public cloud technology to create cutting-edge tools that are essential for the growth of the $19.5 billion hedge fund. Under the firm’s leadership, the tech teams of the firm have efficiently maneuvered the cloud tools to make significant progress in the expanding field of technology.
