Hedge fund Verition's top hire from Millennium appears to have left again
Verition, the small and friendly multistrategy hedge fund, has been making some changes to its equities business. Earlier this year, it hired Gustav Rydbeck, a former equities COO from Balyasny as the global head of its equity long short business. Now, a senior portfolio manager appears to be leaving.
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Verition declined to comment, but multiple sources said Sara Nainzadeh, a senior portfolio manager who joined Verition from Millennium, has left again. The reason for her exit is unclear. Nainzadeh didn't respond to a request to comment.
Nainzadeh spent 20 years at Millennium before joining Verition at the start of this year. She is a senior portfolio manager specialising in the industrials, materials and energy sectors. Her disappearance follows that of Richard Heath, another equities portfolio manager who joined Verition in 2021 and left a few months ago.
Former colleagues of Nainzadeh say she is a star and that she was one of Millennium's big alpha generators by her 20s. She inspires "incredible loyalty" says one, and is known for her "directness, integrity, and absolute focus on family."
It's not clear what Nainzadeh, who is an English major, is doing next. Nine years ago, Business Insider said someone with her name had a secret room behind a bookcase, so maybe she is spending some time there.
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