Hudson Bay Expands $20 Billion Hedge Fund Business to Dubai

Hudson Bay Capital Management is opening an office in Dubai, joining the likes of Balyasny Asset Management and ExodusPoint Capital Management in expanding to the Middle Eastern business hub.

(Bloomberg) — Hudson Bay Capital Management is opening an office in Dubai, joining the likes of Balyasny Asset Management and ExodusPoint Capital Management in expanding to the Middle Eastern business hub.

The Greenwich-based multi-strategy investment firm, which manages about $20 billion, has hired Chiara Chabanne as senior executive officer and its first portfolio manager in the region, according to a person with knowledge of the matter. She will start today and will be supported by Antoine Chabanne, the person said, asking not to be identified because the matter is private.

Both previously worked at Schonfeld Strategic Advisors LLC. Chiara has also worked at Moore Europe Capital Management and JPMorgan Securities, according to LinkedIn.

A representative for Hudson Bay declined to comment.

The move comes as multi-strategy hedge funds firms that rely on groups of traders to make money expand globally in a bid to hire the best talent. Offering a location of choice is an important perk in their package to lure potential money makers.

Hudson Bay is the latest hedge fund to turn to Dubai, which is drawing some of the world’s biggest investment firms to its shores after already attracting crypto firms, property investors and Russian billionaires.

Izzy Englander’s Millennium Management has more than two dozen people working for him in Dubai, while Michael Gelband’s ExodusPoint, one of the largest multi-strategy hedge funds, is expanding in the city. Michael Platt’s private investment firm BlueCrest Capital Management is also building a presence.

Hudson Bay is expanding its team globally and now has close to 100 investment and risk professionals. The firm also has offices in New York, London and Miami.

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