Bayforest Capital employs just five people but expects to oversee $235m in the coming month, compared to $45m at the end of 2019
London — A machine-learning hedge fund backed by Blackstone Group is enjoying a growth spurt after notching a 20% gain in this year’s wild pandemic markets.
A record of positive gains every month in this year’s cross-asset roller-coaster is drawing fresh client attention to the firm run by Theodoros Tsagaris, a quant with previous stints at Tudor Investmen, GSA Capital and BlueCrest Capital Management. “We’re receiving billions of data points every day and we adapt our algos based on the new information,” said Tsagaris in an interview.
A Bayforest strategy of following capital flows holds particular appeal in a volatile market jumping from record losses to historic gains. That’s especially so for systematic investors whose directional bets have been crushed by rapid shifts in bull and bear regimes. Investing styles that follow flows can range from trading ahead of index rebalancing to buying shares touted on websites followed by day traders.
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